Inland Homes Share Discussion Threads

[p1966] 28/3/2020 23:34

http://www.inlandhomesplc.com/media/2184/inland-homes-2018-19-full-year-results.pdf I realise the presentation is now out of date, but page 26 may be of interest. Apologies if you have seen already.

[dozydave1] 28/3/2020 21:19

Berenberg,Goldmans and canaccord genuity views 09:30 Sat 28 Mar 2020 HTTP://rebrand.ly/rym89su

[davebowler] 28/3/2020 19:12

Cerrito - Cerberus??

[manrobert] 28/3/2020 18:29

surely would it not be good business for a big builder to clear any debts and inherit a clean inland and benefit from the assets.

[spud] 28/3/2020 17:21

If the dividend is cancelled then I shall commence my disposal of shares here. Currently holding 270k. spud

[cerrito] 28/3/2020 17:14

Trying to wok out what to do here in the context that there will be less cash coming in from residential sales on sites such as Wilton Park, Alperton, The Venue and less progress paymets from the housing association partners as even if they continue working on their sites, progress will be slower given supply constraints.. I am going on the basis that we will have an update this week. I am going on the basis that the dividend will be either cancelled or postphoed. The cost would be £4.5m. At the same time the clock is ticking on the interest bill. Remember that in the FY to 9.19, gross interest costs-ie pre capitilization-were £10.7m up from £6.7m the year before and interest income went uo to £1.7m from £0.9m. Last year’s interest expense was just about ok but wll be high given my current reading that operating profit will be less this year The good news is that they have £20m available on their revolver and I will make the assumption that there will be no issue with covenants.They do have £48m of loans coming due this year £26m from banks and the rest of non banks-this is an organization with if I remember a name from Greek mythology but the exact name escapes me and operates much the same way as Cheyne. Also as per the AGM, they have a bank loan secured on houses in Wilton Park maturing next February and another on land there maturing in November that rolls over each year. I am assuming that these get rolled over. Also note that as per note 22 they have included in the figure for inventories,£67m of billings made ref construction contracts and one hopes that these have been collected-actually the level of trade payables was not too bad. My current thinking is that INL will not go out of business because of its debt. It will however mean no dividends for the next 18 months; that given this lack of financial flexibility it will have to pass on attractive opportunities and also have to make disposals that if it had better finances, it would not have to make. I have the weekend to consult with my pillow as to what I should do. Other views most welcome

[cerrito] 28/3/2020 16:08

Posted on the INL website Friday 27th March 2020... The Marketing Suites Our Marketing Suites are currently closed for the health and safety of our customers and staff. Our Sales Team are available over the phone to help you continue with your property search… Phone our Sales Team for development information, plot availability and to be put in touch with our recommended Independent Financial Advisors, Solicitors and Help to Buy. Browse our website for videos, images, floor plans, site plans and specification details, which can all assist you in finding your perfect home. Follow us on social media, where we’ll be posting daily updates, blog posts, walk through videos and Q&A sessions to keep you up to date and well informed about buying a new home. Plus, you can reserve a new Inland home with just a £99 reservation deposit!*

[qs99] 28/3/2020 09:24

things will reopen IMO Mayish time, that may be wrong, but that's my gut feel, however, the economic pain will go on, that will hit major asset purchases IMO, why would you still shell out with the job losses and uncertainty? DYOR

[igoe104] 28/3/2020 09:23

remainder of 2020 ? where did you get this information from you idiot. What do the Spanish know about uk building sites anyway ? you've won the plonker of the week award.

[mallorca 9] 28/3/2020 08:17

Building sites may soon be closed for the remainder of 2020. Preserve you cash.

[stevieweebie2] 27/3/2020 22:57

Indeed . I absolutely believe that

[bwm2] 27/3/2020 22:27

We are in the eye of the hurricane imo

[stevieweebie2] 27/3/2020 09:43

yes I sold out of my position into the bounce yesterday but took a loss, I dont see it getting much over 50 for the year ahead to be honest. lots of news to come yet.

[qs99] 27/3/2020 08:25

Personally just think that even with the govt help, the economy is going to tank for a while, so the really bad news hasn't hit builders yet IMO....so make the most of any "bounce" as really can't see how it can do anything other than re-trace across so many industries until the dust settles....DYOR and GLA!

[bwm2] 26/3/2020 15:48

Agreed and it is not just labour but materials that are being disrupted as well

[grahamburn] 26/3/2020 15:19

Don't forget Inland receive considerable income for building houses for other entities (eg Housing Associations). The company has always said that the stage payments make a positive contribution to their cashflow. One has to assume that such payments are contingent upon the completion of specific stages in the construction process. So if such processes cease for the foreseeable future Inland will lose out just as much as other house builders, if not more so on a comparable basis.

[pavey ark] 26/3/2020 10:51

I'm not familiar with the business model of house builders but I assume that they get no cash until they sell their houses INL would appear to be in a different position. To say that INL is a house builder in the traditional sense is rather misleading. These house builders are cutting / suspending their dividends to conserve cash AND to set themselves up for government subsidy. INL may follow them but not necessarily due to strict financial pressure. I suspect that a number of people going on about the debt here haven't taken the time to go over, in detail, the recent results and updates given by the company.

[p1966] 26/3/2020 10:42

But, curiously (as of 10.30am), GLE is up 16%. I'm not sure I can work that one out. Difficult though it is, as a long term investor in INL, I am trying to ignore daily price movements.

[p1966] 26/3/2020 03:49

https://masterinvestor.co.uk/latest/mark-watson-mitchells-cv19-recovery-portfolio/As always, DYOR.

[master rsi] 25/3/2020 22:43

pudsy1 re - INL save by slashing their Jun 20 dividend Very easy 2.25p dividend X 205 million share in issue (1) = £4.63 Million (1) For use in basic measures 205,739 shares

[spud] 25/3/2020 22:40

It's not hard to work out pudsy! spudPs. It won't happen though...

[pudsy1] 25/3/2020 21:17

How much money would INL save by slashing their Jun20 dividend and shore up their balance sheets ?

[maturo] 25/3/2020 18:12

WOW! Hard work and dedication really paid off Many thanks - Master RSI - this is really dedication from you, considering some say you may have sold.

[master rsi] 25/3/2020 17:40

How the Builders are performing during last 3 month