Inland Homes Share Discussion Threads

[pj 1] 29/10/2015 07:51

First time in 3 years that delayed Results have worked in my favour! What was all the fuss about?

[manrobert] 29/10/2015 07:50

yes excellent results and very detailed,looks like the resultant p.e ratio will be a much more acceptable 9 against the historical 25,am sure these results will attract good attention from big builders.

[winsome147] 29/10/2015 07:49

Comments on current NAV would be welcome. I'm unsure how to price fair value for the share price and whether its worth jumping in again. Good results but they are now priced roughly 1.75 times current NAV which is higher than Bovis and Barratt but lower than some of the bigger boys. Who said NAV was to be 100p?

[pastybap] 29/10/2015 07:49

Winsome- they employ a very conservative NAV methodology in their accounts. True NAV is much higher. How much higher... who knows?

[dt1010] 29/10/2015 07:43

Group Highlights

Record performance, well ahead of market expectations
Expansion of housebuilding programme adding significantly to results - 248 private homes sold this year (2014:114)
Creation of residential investment property portfolio contributed £14.5m of revaluation surplus and rental income has exceeded £1.1m per annum post year end
Land bank has continued to grow and currently stands at 5,176 plots (2014: 3,734 plots), 1,200 of which are consented (2014:1,318). Net asset value per share has increased by 43% to 43.9p
Total dividend (interim 0.3p plus proposed final 0.7p) per share increased by 67 per cent to 1.0p (2014: 0.6p) which demonstrates the Group’s continued strong financial position and confidence in the medium-term outlook.
Outlook
After a brief lull in the UK housing market in the early part of 2015, house prices in the South East, where the Group predominately operates, continued to increase by 6.7 per cent in the year
The ‘Help to Buy’ scheme has now been extended to 2020, and this year 31 per cent of the homes sold by Inland used this scheme
Due to the continual undersupply of housing in the areas in which the Group operates and the expectation of continued low interest rates for the foreseeable future, it is likely that house prices in Southern England will continue to rise
The Company expects its site in Southampton, the former Meridian TV Studios, to be cash generative in the current financial year
Stephen Wicks, Chief Executive of Inland, commented:

“Inland Homes has exceeded market expectations and delivered growth in value for our shareholders.

“The 94 per cent increase in revenue and 48 per cent increase in net asset value per share validates our strategy of expanding our housebuilding programme and remaining focused on development opportunities in Southern England, in locations where the economy is robust and demand is consistently high.

“Our business model has delivered a substantial increase in house completions during this past financial year and we are now well positioned for expansion opportunities.

“With purchasers’ confidence high, supported by the removal of any political uncertainty and continuing strong demand for homes and building land, we have every confidence in delivering further significant progress in the current financial year.”

[dt1010] 29/10/2015 07:41

Inland Homes PLC
brownfield regeneration specialists and home builders
(‘Inland’;, the ‘Company’; or the ‘Group’)
Preliminary results for the year ended 30 June 2015
Rapid Growth Enabling Record Results

2015 2014 (restated2) Change
Revenue £114.2m £58.9m +94%
Profit before tax (including £14.5m revaluation surplus) £34.0m £9.6m +254%
Period-end cash balance £21.4m £11.1m +93%
Net asset value per share1 43.9p 29.6p +48%
Basic earnings per share 14.67p 3.46p +324%
Dividend per share 1.00p 0.60p +67%
1 Excludes unrealised added value accumulated within the land bank due to planning permissions achieved on some sites.
2 The results for 2014 have been restated due to the change in accounting policies to allow for the revaluation of investment properties and for the consolidation of Drayton Garden Village Limited.

[winsome147] 29/10/2015 07:40

Great results. I expected NAV to be higher given that some people have been saying recently that their assets are worth 100p per share.

[pastybap] 29/10/2015 07:39

I wouldn't like to speculate on price movements, but given the results were so far ahead of expectations, I think the market will take a while to fully ravalue them. Truly astonishing results and well worth the wait.

[retsius] 29/10/2015 07:34

Absolutely first class results.
Let's see how the share price does at the open.
ST in IC this should make up for Globo:))
R.

[dt1010] 29/10/2015 07:34

Incredible results!! As predicted!!! The shares will seriously break out now!!

Here's to 100p+ by end of March.

[sogoesit] 29/10/2015 07:24

So what's it worth on open? Any guesses?

[impvesta] 29/10/2015 07:19

Absolutely stonking results!:

[qs99] 29/10/2015 07:15

well IMO these look pretty good!

[ravin146] 27/10/2015 20:25

Ouch a placing in this market!Hope it works out PJ.I hope inland don't require one!

[pj 1] 27/10/2015 19:18

TEF have shafted (short term) PI's today with a placing when an open offer, prob at a higher price, could have been an option. Lets hope these do not follow

[jaws6] 27/10/2015 12:00

david
Good idea,let's do that.

[pj 1] 27/10/2015 11:32

Barbados,for the sun and sea? With your position size here DT I thought you would go more in land? :-//

[sogoesit] 27/10/2015 11:26

Are you sure it wouldnt be better in Bermuda DT?
(Given the stick you get on the BB's?)
Said in jest :-)

[dt1010] 27/10/2015 11:24

I am in Barbados over Xmas until end of Jan. Same every year.

[pj 1] 27/10/2015 11:08

Yes David, good idea, I do not have a large holding but enjoy meeting other PI's

[davidosh] 27/10/2015 10:55

The meeting will still go ahead but clearly only once results are released and most likely in the week after. Last time it was scheduled for the following Monday.

It now looks like the Agm will be a Christmas Party as that will have to be postponed as well and is normally first week in December. Lots of mince pies for us this year.

We can arrange a Christmas lunch/pub trip after the Agm if a few of the long termers here fancy extending the visit.

[peter27] 26/10/2015 18:17

SE Rules for AIM companies extract -
19. An AIM company must publish annual audited accounts which must be sent to its shareholders without delay and in any event not later than six months after the end of the financial year to which they relate.
An AIM company incorporated in an EEA country must prepare and present these
accounts in accordance with International Accounting Standards. Where, at the end of the relevant financial period, such company is not a parent company, it may prepare and present such financial information either in accordance with International Accounting Standards or in accordance with the accounting and company legislation and regulations that are applicable to that company due to its country of incorporation.
The accounts produced in accordance with this rule must provide disclosure of:
• any transaction with a related party, whether or not previously disclosed under these rules, where any of the class tests exceed 0.25% and must specify the identity of the related party and the consideration for the transaction;

[pj 1] 26/10/2015 17:48

davidosh, is your meeting with them still going ahead?

[ravin146] 26/10/2015 17:37

Bhafc - I would not say disgraceful lack of info. They just released a RNS recently, stating accounts will include the asset and then await audit to 'audit'. Could be tomorrow, next week, next fortnight. If you are a long term investors there is nothing to worry about atm.I'm just wondering if on a regulatory perspective they have a deadline.