Inland Homes Share Discussion Threads

[mallorca 9] 30/6/2020 07:28

Loss before tax of £7.6 m
No interim Divi
Net debt £150m

!!

[skinny] 30/6/2020 07:26

.

Key financials:

· Revenue £59.6m (six-month period to 31 December 2018: £51.0m), lower than anticipated due to the aborted land sales referenced above which had a total revenue of £46.2m

· EPRA NAV increased to 109.30p from 103.57p (31 December 2018)

· Net Asset Value per share ("NAV") of 75.75p (31 December 2018: 71.71p)

· Net borrowings: £150.1m (30 September 2019: £152.3m; 31 December 2018: £96.6m)

· Gross profit of £4.9m (six-month period to 31 December 2018: £14.6m)

· Loss Before Tax of £7.2m (six-month period to 31 December 2018: Profit Before Tax £5.5m)

In May 2020, the Group raised £9.4m (net of expenses) through a successful placing and subscription of 20,750,000 new ordinary shares at an issue price of 47.5p per share. The new ordinary shares represent approximately 9.9 per cent of the existing issued ordinary share capital of the Group. The net proceeds of the capital raising have strengthened the Group's balance sheet and provided additional working capital.

Operational highlights:

· Land bank increased to a record 9,143 plots, 2,881 of which have planning consent

· 56 private home sales (31 December 2018: 79 private homes), excluding joint ventures realising £13.8m (31 December 2018: £18.6m). During the twelve-week period from 1 April 2020, 52 gross reservations and 6 cancellations resulting in 46 net reservations achieved from five active outlets

· Current forward sales of homes reserved and exchanged amounts to £21.2m including a block sale of 24 units from one site, and in addition, a hotel under construction in Bournemouth for £13.3m

· The planning application at Hillingdon Gardens, Hillingdon was 'called-in' by the Mayor of London, with the application expected to be heard in the last quarter of the full-year reporting period

· Development agreement signed in April 2020 with Homes England for more than 600 homes, commercial and community facilities, as well as a site for a new school in Basildon, with estimated gross development value of £200m

· Unconditional sale of 94 plots at the Group's flagship development site at Wilton Park in Beaconsfield to Bewley Homes plc, with completion in September 2020

Note: On 6 June 2019, the Group changed its accounting reference date from 30 June to 30 September so that its reporting timetable was more closely aligned to value recognition and the operational cycles of the business. Consequently, the current period presented is for the six-month period to 31 March 2020, and the comparative information for the six-month period to 31 December 2018.


more.....

[thewheeliedealer] 22/6/2020 21:19

Hi all,

My mate Peter @Conkers3 and myself did a Twin Petes Investing Podcast a few days ago and part of our discussion covers INL which I don’t hold myself at present but I suspect it could be quite undervalued. We also chatted about loads of other Stocks and as always a fair bit of general Portfolio Management educational stuff. Anyway, if you use Apple, Audioboom, Overcast or Spotify you can find it under the 'Conkers Corner' Channel (you want TPI Podcast 25) and you can find it on Soundcloud at the link below.

I hope you enjoy it and find it useful,

Cheers, WD
@wheeliedealer

[p1966] 22/6/2020 12:01

Great spot igoe104. Thank you for sharing.

[igoe104] 22/6/2020 11:06

Good News.

Plans for 119 flats off Brook Street in Colchester approved.

[theprovosts] 17/6/2020 19:43

Let's hope some of that 500m comes our way in land sales.

[p1966] 17/6/2020 18:49

TW placing to raise GBP 500 million (extract):'We have taken decisive and early action to conserve cash and increase flexibility through the COVID-19 pandemic and we are now seeing a significant opportunity to invest in land at attractive prices. We are today launching an approximately GBP500 million equity raise from a position of strength, to enable us to take advantage of these near term opportunities. These investments will support sustainable future growth and deliver enhanced, long term value to shareholders.'And following INL's example, they are using PrimaryBid!

[mallorca 9] 17/6/2020 07:54

I am very tempted to jump back in .

[mallorca 9] 16/6/2020 18:17

I hope you're right.
This used to be one of my favourites.

[its the oxman] 16/6/2020 16:37

Plans are in place to see debt reduced, obviously one can wait for that happen but the shares will probably be much higher by then. Management have raised some money, overall prospects and their record of delivery look good. Sizeable discount to close re nav. I'm happy and suspect there are further gains to come here.

[mallorca 9] 16/6/2020 09:10

I must say that I am still hesitant to come back in here.
The debt level is a big concern and I wonder whether this sale is desperation measure.
I see a big downturn in the economy ahead , especially when the furlough scheme ends.
Many are already building up mortgage arrears which may lead to repossessions next year.
For this reason I fear a slump in the housing market in 2021.
Not a great time to have £150m in debt.

[spud] 16/6/2020 07:49

Inland Homes plc sells 94 plots at Wilton Park16 June 2020 Inland Homes plc("Inland Homes", "Group" or "Company") Inland Homes plc sells 94 plots at Wilton Park, BeaconsfieldInland Homes plc (AIM: INL), the leading brownfield developer, housebuilder and partnership housing company with a focus on the south and south-east of England, today announces the unconditional sale of 94 plots at its flagship development site at Wilton Park in Beaconsfield to Bewley Homes plc, a specialist in high quality developments in the South East. The sale is part of phase one and two of the project, which totals 147 units including 27% affordable housing.The consideration payable presents a premium to the EPRA valuation. The sale, which is expected to complete in September this year, has been structured so that circa two-thirds of the consideration will be payable in cash on completion with the balance payable on a deferred basis and no later than twelve months post-completion.The sale will enable debt reduction and free cash flow that will be reinvested into the Group's operations.spud

[cordwainer] 16/6/2020 02:11

..they are rather brutish and regimented aesthetics, to my mind hardly any prettier than a series of multi-storey car-parks, or prison blocks. On the other hand, I'd swap my old house for one of those newly finished flats any day.

[igoe104] 15/6/2020 19:39

PLANS to build another 119 homes off a notoriously polluted street in Colchester are set for approval.

Inland Homes' want to build five apartment blocks, made up of one and two-bed flats, on land off Brook Street.

[igoe104] 13/6/2020 17:08

Developer plans 700 homes for DIY store
A scoping report submitted to Waltham Forest Council by developer Inland Homes revealed plans to develop a major new housing scheme that would

[p1966] 11/6/2020 12:21

There are times (up and down) where INL does not mirror the sector, but it's more than just a house builder. Unless there is a late-reported large trade, this morning's change is on a volume of just 154k shares, which seems low, in itself, to drive such a change. On a positive note, the recent capital raise was oversubscribed. A material land sale / planning permission gain would improve sentiment and support a re-rating of the shares.DYOR.

[igoe104] 11/6/2020 10:41

Most are down 2/3 %, but INL is double the normal.

[alter ego] 11/6/2020 10:30

Buy/sell indicators are unreliable since they make assumptions based on quoted prices not the direction of actual trades. The whole market is off today so not surprising to see INL also lower.

[igoe104] 11/6/2020 10:22

Why has this fallen 5.6% today, as many buys as sells. Have I missed something ?

[alter ego] 10/6/2020 10:02

more anecdotal evidence that property sales are buoyant at the moment - one of my local agents says they have sold way more properties in the last week than normal. Might just be pent up demand but demand seems to be there.

[p1966] 10/6/2020 09:38

https://www.theguardian.com/money/2020/jun/10/property-sales-recover-to-pre-lockdown-levels-across-england-says-zoopla

[spud] 04/6/2020 16:00

Think it's going to be a bit of a slog what with the virus disruption and 10% dilution. Sold 200k when they announced pulling the dividend but still retain 70k. Shame really as I had these on to hit £3 within 5 years. Oh well. spud

[tyranosaurus] 04/6/2020 15:49

These appear to be going absolutely nowhere at the moment.

[master rsi] 27/5/2020 11:39

Holding at best of the day on a small spread 51 v 52p +2p

[master rsi] 27/5/2020 09:15

Another move up this morning after a few large buys, there is always someone that take advanced of the rise to sell some.