Inland Homes Share Discussion Threads

[davebowler] 10/2/2022 14:43

Thanks, Igbert.

[igbertsponk] 10/2/2022 13:45

Read their recent accounts - quite a long bit on cladding and they seem virtually untouched.

[davebowler] 10/2/2022 13:34

Anybody know whether Inland Homes is likely to be affected by the recent decision to make developers pay retrospective cladding costs on earlier developments?

[george stobart] 09/2/2022 18:36

this one will be taken out like U+I, Urban Civic, St Modwen

[tole] 09/2/2022 18:00

https://masterinvestor.co.uk/equities/small-cap-catch-up-featuring-alu-bag-and-blv/Inland Homes (LON:INL) – the market is not getting the buzz yetConsidering just how long I have been following this £120m company and respecting the ability of its management, I have to say that I am currently disappointed.I would question whether their brokers are performing satisfactorily in supporting and presenting the company to their multitude of professional investors.As too I would suggest that their public relations folks need to pick up their game. Certainly, I would say that both sets of advisers are apparently lacking commitment, and nowhere near the level of boss Stephen Wickes whose words on digital media totally outstrip those of his overpaid hirelings.The recently announced results from the company, which were below expectations (but only fractionally), achieved almost nil response in market terms, despite the incredible value the group's shares offer, they are now just 52.3p compared to a 108p NAV.To precis those 2021 results they showed record revenue of £181.7m, a profit before tax of £13.2m, while net debt showed a 20.3% reduction to £118.1m. In its partnership housing the group has a forward order book of £164.7m.Its land portfolio was 10,055 plots, while the group has an estimated gross development value of £3.0bn for its land portfolio. The last year showed homes under construction totalled 1,547, which included 1,257 on behalf of its partners. It recorded 216 private homes sales, if one excludes those of its joint ventures.I consider that there is still considerable upside in potential considering its current value and just what the group has to offer. I wonder whether its shares would do better if the group had new advisers?

[igbertsponk] 05/2/2022 09:33

Here's the houses, first phase and the smaller ones as it's not the best bit of the sitehttpS://www.bewley.co.uk/developments/wilton-park/overview/

[igbertsponk] 05/2/2022 09:31

httpS://www.bucksfreepress.co.uk/news/19900913.wilton-park-back-map-show-homes-finally-open/

[fegger] 03/2/2022 12:58

Hopefully retirement will seem a lot more attractive option as travel & leisure options open up again after the pandemic

[davidosh] 03/2/2022 12:49

Inland floated at 50p about 15 years ago and is now 52p.

Never lost a planning application in the long term and had some whopper sites with amazing value locked in. The company has not been very good for shareholders though has it?

The enhanced value in gaining all these consents has either been drained away by poor selling prices or very expensive build outs or costly management of the operations or maybe all three !!?

Somehow investing in the company has not been as attractive for investors as all the other stakeholders or even the house buyers and we are not a charity.

So what has gone wrong? A comparative chart with all the other builders would certainly look dire

[daneswooddynamo] 03/2/2022 12:34

Some you win some you lose, sadly the go for growth strategy and flog it has not worked as planning permissions are too easy to come by for the big boys as huge green areas are built upon. And now the music has stopped with too much debt which will take a while to clear

[oi_oi_savaloy] 03/2/2022 11:41

Agreed - losing the will to live with this one....been in it for years and years....thinking, this is going to do really well.....and then it.....doesn't.

[igbertsponk] 03/2/2022 11:04

Wicks is 71, Malde is 64... can't be long before they want to retire!

[horndean eagle] 03/2/2022 09:13

INL has been awful. The NAV has gone nowhere for years and in what has been such a strong period for housebuilders. The only way i can see value coming for shareholders is from a take out. The question is how long do you have to wait for that to happen.

[p1966] 02/2/2022 17:25

Full Annual Report and Accounts (158 pages) now available on the INL plc website.

[cheshire man] 01/2/2022 10:00

Very happy with that :-)

[igbertsponk] 01/2/2022 08:40

EPRA Net Assets 107.84p, so they are still trading at half price.

[albert arthur] 01/2/2022 08:02

Cracking number this morning.

[suetballs] 01/2/2022 07:25

A dividend at some stage would be good too.
Suet

[igoe104] 21/1/2022 19:29

In last week's Investors Chronicle on p42 Simon Thompson talking about #INL again and says at 56p it is a 43% discount to EPRA NAV of 97.66p.

[tole] 19/1/2022 18:16

https://masterinvestor.co.uk/equities/two-dollars-a-nut-a-brownfield-a-pier-and-a-sausage-skin/A brownfield – Inland Homes (LON:INL)This 'capital light' specialist housebuilder, regenerator and 'brownfield' developer has a growing side of its business – asset management.On behalf of investors, it puts together projects and manages them from identifying likely sites through the often-laborious process of getting planning permissions then on to the construction and eventual marketing.It currently has six such projects on hand, with a combined potential of some 3,300 homes.Obviously along the way it comes up against objections from local residents, from local councils and authorities, even from local Mayor's offices.But Inland does its work professionally and stands by its request for permissions. The Borough of Hillingdon sought a Judicial Review to overturn the planning permissions granted in September 2020.However Inland has won through yet again. Over the last twenty years it has achieved a 100% success rate in securing permissions on brownfield sites.On Monday morning the company announced that the High Court had quashed the Hillingdon request – it had tried to put down the project in so many ways, all of which are now firmly closed against the Borough.Stephen Wicks,. the boss of Inland, stated that: "The former Master Brewer site is a brownfield site that has been vacant for 11 years and is exactly the type of scheme where we can make a meaningful contribution to housing delivery in a sustainable way.We are very pleased that this scheme has cleared the final obstacle to its development. This consent has taken over three years to be validated and has been extremely difficult to achieve. It is very disappointing that it should be such a long and torturous process to develop on an allocated brownfield site in a highly sustainable location.The Hillingdon Gardens site is part of our asset management division, where we are seeing increasing demand for our experience and skill in navigating the planning system. This will be an area of primary focus in the coming year and we are excited about the opportunities in this growing area of the business."Upon this piece of news, the group's shares went to 59.9p (within a whisker of my recent price aim), before easing back on much more than double the average dealing volumes.They closed last night at 54p, a bargain price in my view.Hold very tight, the 2021 September year end final results are due within days.

[grahamg8] 18/1/2022 17:45

A bit of inside knowledge goes a long way bagpus. Standard practice in the motor industry used to be to gradually increase the size of your orders in exchange for slightly lower prices. Eventually unwary suppliers would discover that they had the bulk of their output going to one customer for negligible profit, terrified that their big customer would just walk off and start all over again elsewhere. Many never recovered.

INL's inability to manage their construction side for profit goes back long before Covid and the current price rises won't be helping for sure.

[oi_oi_savaloy] 18/1/2022 09:53

But costs have risen for everyone in the building industry -and there was no way to forecast these rises - they've been unprecedented. It's not just INL whom have suffered. They can't really hedge to any large extent. Besides - the rises and lack of supply have been felt across the UK, everywhere. It's been a nightmare for thousands of builders/developers. At least some of their future deals have these price rises already locked in and they're able to buy with a discount to the current open market land value of these sites. I can't comment on how late INL pay their suppliers - there are others on here whom have more knowledge of that. it's not a good long-term practice however. People don't forget.

[igbertsponk] 18/1/2022 09:51

Costs have been spiralling for all builders, mostly materials. No builder exempt.
There is now a steadying in the rises as supply has caught up a bit.
INL will have contracts that enable some of the increases to be passed on. Especially any recent contracts.
Worry less.