|J Smart & Co
||EPS - Basic
||Market Cap (m)
|Construction & Materials
J Smart & Co Share Discussion Threads
Showing 26 to 50 of 50 messages
|Please note that the market cap on the advfn quote page is incorrect. Their market cap is actually a couple of percentage points lower than quoted due to the fact advfn hasn't rebased it following share buybacks.
Fingers crossed more buybacks to come if the market opportunity arises|
|Hi Glassboy, if they are listening to me then we should probably be worried!
Agree it is one to be patient with and if they can mop up shares at these levels then we should do alright in time. From their website they have a couple of sizeable housing projects underway which will hopefully help things along this year.|
|Seems they are listening to you Joe, 50000 bought back today. Will be interesting to see how the proposed boost to Housing Association builds develops over the next few years. And whether the healthier construction / property sector finally helps Smart get turnover and profits back up. One to be patient with.
Shows what a prudent bunch they are to keep so much cash on hand. I'm hoping that they use some of it to buy back more shares. Cash isn't earning much interest and reducing the number of shares in issue increases net assets attributable to each remaining share.
|I read the Annual Report & you are correct, "monies on deposit" are cash balances on deposit longer than 3 months. It all helps.|
|'Monies on deposit' could well be cash placed on long term deposit (i.e. greater than 3 months) or amounts invested in money market funds in order to get a better interest rate than is available for immediate access.
Accounting rules require that these sort of balances are identified separately from cash and cash equivalents (which should only include amounts that are available to spend either immediately or without much of a delay).|
|Don't quote me but I thought "monies on deposit" were the deposits held at the solicitors in respect of buying and selling future developments / properties. I presume the market is warming up, more transactions so this amount was significant this year. Maybe the timing meant at the year end, there was a transaction(s) pending completion.|
|Good point, I have no idea why there is a separate entry for "monies held on deposit" vs cash and cash equivalents... this item didn't exist in last year's accounts. Perhaps it's something that isn't immediately accessible; I'm not an accountant and don't really understand the distinction.
They do warn that contracting margins are still under pressure, so I wouldn't expect a fast return to pre-recession operating margins. However, I think a gradual increase might be expected, and with a benign property market we should see good sales in residential, and hopefully an uplift in commercial.
The updates they give the market make me smile... there's so much spin and optimistic bluster in most financial reports, whereas Mr Smart (the chairman) just tells it exactly as it is! There's no smoothing of profits and revenues to try to maintain a constant growth trajectory.
As an aside, I have no idea why they waived 50% of the dividend.|
|With £3.5m "monies held on deposit", cash is £16.8m... which only reinforces your point. Operating profits back to £2m, looks like the corner is finally turned as recession and referendum recede into the past. Operating margins were double this level in better times. Property values should start rising again.
51k trade yesterday, buybacks may have restarted.
|For the full results, see http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12559394.html
The ADVFN report is truncated for some reason, missing some of the accounts.
Note the cash position increasing by £5million to £13.3 million, not bad on a company with market cap of approx £47m.
Strip the cash from net assets and market cap and you would have a market cap of £34m with asset backing of £75m.
My opinion is that these shares are undervalued. I would hope to see further share buybacks.|
|Good timing LB.
Results seem fine, trading picking up and divi small inc (tho board still not taking any.) Good to see BV increasing for the 1st time in a few years as well|
|Results are normally released last Thurs in October, so this year should be 29th October|
|Just bought a few of these for my mummy, who has some savings sat earning nothing.
Don't really see what's to dislike - 50% discount to NTAV, 3%+ divi yield. Concentration of power to the board but they've been trading for decades with no sign of misappropriation. Scottish commercial and residential outlook fairly positive.
Not expecting much movement, just a return of a few percent over base rate works for me. No alarms and no surprises, hopefully!|
|I agree the are challenges. Pure asset value play IMO.|
|Only problem is that they are invested in Scottish Property. I believe that was the only property market that went backwards in the last year.|
|What is good for the Goose appears to be good for the Gander.|
|Value on sale here. Plenty of cash for buybacks.|
|The buyback continues :)|
|Finger hovered the offer at 85p......maybe the will be a chance to average in.|
|Waiting in the wings for a few and these are in my top two. Problem is the rest of my portfolio is doing really well, so what to sell and when? Age old Q I know. GLA|
|I'v bought in, big discount here IMO.|
|Yes, maybe - I was too concerned by the construction profit warning though in the annual report. Looks like that business is doing dreadfully.|
|Help to Buy is starting in Scotland this year, I believe, and J Smart are on the list of participating home builders:
If this works out similar to the English Help to Buy then comp likely to do very well|
|Well I've sold the few shares I have here before the xd pull back this week. I was a tad spooked by two things in the final results:
- first that contracting revenues will be half that of last year (and last year they made a > £2m loss)
- secondly that the family have waived their dividend entitlement so the dividend increase is actually a 50% cut.
All very shareholder friendly and hats-off to the directors, but looks a bit of a sign of bad things to come to me!
Looks like there will be a very significant reduction in profitability next year before revaluation adjustments. Not totally convinced on the dividend if things continue to deteriorate. Still a large discount to book value, but to make a 10% profit in one year on a bad call is good enough for me. Will keep watching and may get back in at some point as it is a reasonable value play long term. I'd like to see just how bad contracting can get first though!|
|some other investors concur hxxp://www.marketfolly.com/search?q=smj&x=16&y=19|