Inland Homes Share Discussion Threads

[dt1010] 30/9/2015 08:54

Buying opportunity today as muppets flee the nest and free up more value

[dt1010] 30/9/2015 08:53

Inland Homes PLC
(‘Inland’;, the ‘Company’; or the ‘Group’)

Results Update
The Board of Inland Homes announced in its trading update on 23 July 2015 that the preliminary results announcement for the twelve months ended 30 June 2015 would be released in September 2015. The Board can now confirm that the announcement of these results will be on or before 19 October 2015. The reason for the delay is that the Board is re-considering the application of the new accounting standard, IFRS 10, as to whether Drayton Garden Village Limited should be consolidated within the Group's financial statements. IFRS 10 is effective for accounting periods beginning on or after 1 January 2014 and, to date, Drayton Garden Village Limited has not been consolidated.

Irrespective of whether or not the Group consolidates Drayton Garden Village Limited, the Board can confirm that, as first advised on 17 June 2015, the Group's profit before tax for the year ended 30 June 2015 will be significantly ahead of the then consensus forecast in the market of £12.7m.

[igbertsponk] 30/9/2015 08:49

They were well aware of IFRS10.
In the 2014 accounts they said "None of the standards above are expected to have an impact on the Group’s financial statements. The Directors are currently assessing the impact of IFRS10 on accounting for the DGVL arrangement but at this stage do not anticipate any material changes. However, as
IFRS10 specifically requires the question of control to be reassessed on an ongoing basis, this matter will be kept under review."

It would seem pretty likely to me that as they get over 90% of the profits of DGVL they would be viewed as having control. However clever any artificial structuring was to avoid this.

The annoying thing for me is they've obviously known about this for a few days, so why wait until today when everyone is awaiting results to announce the delay ? Daft.

[manrobert] 30/9/2015 08:44

its rarely a good idea to delay the results whatever the reason.communication seems to be a big issue here.

[joe say] 30/9/2015 08:16

Amazing what speculation - especially when the RNS spells out the reason why

A new accounting standard effective for periods beginning post 1 Jan 2014 - it would seem to me that the auditors have challenged the company to apply this standard which the company has either missed or decided does not apply

As simple as that - and as the RNS states will still leave the profits significantly ahead of market consensus

[manrobert] 30/9/2015 08:13

lots of small investors voted with their feet.

[shanklin] 30/9/2015 08:02

No bravery required IMHO. They didn't want to release results on the date they had forgotten to update on their web-site, so they RNS'd some uncontentious reason for delaying it. All IMHO.

[manrobert] 30/9/2015 08:00

winsome;thats a good point they would want to show results in best light.

[retsius] 30/9/2015 07:59

Agree with all you guys. Slightly disappointing to say the least.
Still,results to be released slightly later than scheduled,after a reassuring statement that nothing has changed.
Something to raise at the AGM.
R.

[source] 30/9/2015 07:57

Shares look like they will open up despite having to wait until Oct now. Reaffirming "significantly ahead" no doubt helped! :)Regards Source.

[winsome147] 30/9/2015 07:56

Could be to buy time pending offer discussions?

Market doesn't like uncertainty. Could create a buying opp this morning for the brave.

[bluerunner] 30/9/2015 07:45

That's the problem with bulletin boards. 1 + 1= 3. Too much speculative / conspiracy theory spin. However, it does seem surprising that the delay is due to something of this nature ie late in the day.

[peter27] 30/9/2015 07:32

Does this mean they may have to restate figures back to Jan 14? Can they get a refund on the audit fee? Will they change their auditors? Lots to discuss at the AGM.

[spot1034] 30/9/2015 07:25

Not really worth getting up early for was it!

[bodgit] 30/9/2015 07:16

So, what to make of the delay and the potential for impacting the share price? Good luck all.

[manrobert] 30/9/2015 07:12

well what a damp quid.a bit late in the day to not understand the rules.

[jaws6] 29/9/2015 19:39

david
Thank you ,that would be good start for INL to come and talk to PI again.
so far they have not change date on fin calender on INLAND web page yet

Financial Calendar
Annual General Meeting December 2015
Interim Results March 2016
Preliminary Results End September 2015
Annual Report November 2015
Final dividend details:
Dividend amount TBC
Ex dividend date TBC
Record date TBC
Payment date TBC
hxxp://www.inlandhomes.co.uk/investors/financial-calendar

[dt1010] 29/9/2015 19:35

Pound cost averaging David! Making use of the fall back from today's high too.

I will continue to buy while this remains a compelling investment :) for me an my son.

[davidosh] 29/9/2015 18:34

DT1010....Perhaps it would be easier if you told us on the odd day that you do not buy more ! lol

I am not sure if tomorrow is the day for results but I have asked the broker and company for an update RNS if not and a results presentation for PIs when they do release.

[pj 1] 29/9/2015 17:33

Well, twitter seems alive with reasonably intelligent tweeters referring to Results tomorrow and some sort of corporate activity.

Sweet dreams!

[dt1010] 29/9/2015 16:23

Have just bought more

[joeall] 29/9/2015 14:53

I rang the company about half hour ago,they said"nothing to worry about"
issuing statement tomorrow.

[manrobert] 29/9/2015 14:32

jaws6, look under ST article small caps value play and look at the readers comments, you will find it there

[jaws6] 29/9/2015 13:44

I tried to look on IC and can not find what you got in 594 , Thanks .

[manrobert] 29/9/2015 13:25

happy to share,jaws.