Inland Homes Share Discussion Threads

[master rsi] 06/7/2022 10:46

30 v 31p +1p (3.39%)
The large trades today signal a change of attitude toward buying at this lower price

Level 2- bid side10:34 SING 5,000 30p10:34 PMUR 5,000 3010:20 WINS 5,000 29Offer side31p 5,000 JBER 07:5232 5,000 WINS 10:2032 5,000 PEEL 07:50

[master rsi] 06/7/2022 10:28

It looks like the Support around the 30p is holding and Buyers are back at those prices.

Level 2 has improved to 5 v 1,
spread 29 v 31p

[master rsi] 06/7/2022 10:08

Another 60K bought at a cheap price, but was cheaper at the end of the day and today.....

Inland Homes announces that on 5 July 2022 it purchased an aggregate of 60,000 ordinary shares at a volume weighted average price of 30.62 pence

20,000 30.75 08:57:11
40,000 30.55 10:05:08

[farrugia] 06/7/2022 09:34

well they need to hasten those sales then and crystallise some value for long-suffering shareholders!

[oi_oi_savaloy] 06/7/2022 08:31

The one thing I'll say about land at the moment is that it's in demand (but subject to local issues that sometimes cloud the overall picture). Alot of development companies sold very well in the lockdown...but were too reticent on land purchases. And suddenly companies have woken up to the fact they've not got enough in the pipeline coming through to either a) keep the build crews busy and the lights on at head office or b) not delivering enough profit....but either reason is immaterial....it's fierce out there for the right site.

A case in point - we made an offer for a nice site in Newbury 2 weeks ago - right at the top end of the margins we try to preserve when buying sites....we were outbid by over £600k (on a £3mill land value). Understandably the Board were concerned....how could we be so off the pace? We re-looked at the sales data we'd assumed the finished units would go for, compared it to the local agents thoughts, we re-looked at the build cost, the build programme, the deal structure, our internal financing, had the RSL's re-look at their offer for the affordable......and nope....we can't see how we were that off the pace unless....unless you decided to take a massive punt now and buy on single digit gross profit margins and hope the market goes with you on the sales front.

I'm hearing that's what's happening for other coveted sites.....conversely if you've a poor consent in a marginal area...you're going to struggle.

[igoe104] 06/7/2022 08:13

I expect sales will accelerate, commodities prices have fallen alot over the last few months. Its going to be a much better environment for the construction sector going forward.

NATURAL GAS -42% WHEAT -37% COPPER -30% IRON ORE -29% SILVER -28% CORN -28% BRENT CRUDE OIL -16% GOLD -13.5%

[farrugia] 06/7/2022 07:56

As i said they have to accelerate those sales. That's the only way we will see value here.

[suetballs] 06/7/2022 07:49

Good points on the debt savaloy.
We shouldn't have to work it out and the board should imo be giving a target figure that they are comfortable with.
However I just hope that are no other material problems lurking in the background.
Suet

[igoe104] 06/7/2022 07:26

Another land sale, this debt will be down to nothing in no time at this rate,

Graham nearly all mirco caps are falling, unfortunately we are in a bear market. Hopefully the company will continue to clear the debt, and eventually the market will catch up...

[grahamg8] 06/7/2022 07:25

More cash in the pot can't be bad. No indication of what the carrying value was and so we don't know whether this represents a profit or loss. Continuing share price drop suggests there is fear of more bad news to come before we hopefully come out the other side with at least some value left in the business.

[oi_oi_savaloy] 06/7/2022 07:22

That RNS this morning is going to move the share price up imo. So INL's debt is down to £74.5mill.

(I'm assuming the land sale that was announced in Oct 20 and updated v recently, took the debt down to £84mill, as others thought, rather than my thinking, that as it was an unconditional sale, with a delayed completion, that they'd already 'booked' the deal back then and thus the debt was still £96mill last night but is now £86.5mill).

They've not actually clarified the debt number in any of the RNS's covering land sales over the last two weeks. They've left it to us to work it out which is a pity because that land sale in Oct 20 wasn't straight forward (from an accounting point of view - there are two ways you can book that money - then... (on unconditional exchange, even though you've not technically received the money)....and now (completion in mid-july).

Interested to hear others thoughts.

At what point does the debt become manageable? £50mill?

[oi_oi_savaloy] 05/7/2022 23:06

I've had a brief look and can't see which appointment you're talking about? Inland's corporate website is showing a Board without an MD and Nish still as group finance director (even though I'm sure I've read somewhere, on a forum, that he's been made MD?). Interested to hear more.

[hybrasil] 05/7/2022 21:08

Somewhere between here and the 8p it fell to in 2008/9 period

I ll buy if it falls to 14p

Not impressed with recent director appointment

[master rsi] 05/7/2022 09:00

Another 75K less in the market, with buying at different times of the day ...

Inland Homes announces that on 4 July 2022 it purchased an aggregate of 75,000 ordinary shares at a volume weighted average price of 30.76 pence 25,000 31.55 08:12:19 25,000 29.40 10:27:12 25,000 31.34 16:22:30

[alter ego] 04/7/2022 14:11

No it's not "their money". We are part owners so it's our money they are squandering.

[pillion] 04/7/2022 11:46

Simon Thomson got it right then -- post 4864

I often contemplated buying into this property company
Glad I held off

[master rsi] 04/7/2022 09:55

The broker Panmure Gordon doing the buying for the company, I would say is useless, despite seeing the share price falling and the best price in the past is buying close to the end of the day, On Friday bought at the start and paying 36.66p, but of course is not their money.....

Inland Homes announces that on 1 July 2022 it purchased an aggregate of 65,000 ordinary shares at a volume weighted average price of 34.80 pence

27,000 36.66 08:01:27 25,000 34.00 08:10:17 13,000 32.50 08:36:14

[oi_oi_savaloy] 04/7/2022 09:42

I can't remember if they have apportioned the £12mill to the debt already (so it's part of the money that has got the debt down to £96mill) or if this is new money to throw at the £96mill (thus reducing it to £84mill).

That £7.6mill is going to be eaten up if there's another DCB event(s) on other contracts.

And if there aren't - gives them some leeway on working capital requirements.

[igoe104] 04/7/2022 08:37

Its a confirmed 12 million reduction of debt in mid-July, and 7.6 million added to the working capital.

[oi_oi_savaloy] 04/7/2022 08:25

It does surprise me that they'd rns something that gives them an extra £400k but failed to tell us about the £4mill overrun.

[oi_oi_savaloy] 04/7/2022 08:20

It's old news.

[igoe104] 04/7/2022 08:01

Nice property deal, I suppose we won't see many posts, as INL have some good news for once...

[hugepants] 03/7/2022 23:15

Looking ahead, the group said: 'Notwithstanding the loss incurred for the first six months of the financial year, based on management's current expectations
regarding the timing of planning applications and the completion of planned land sales, the financial outlook for the Group for the financial year remains unchanged.

To make that statement, given that we are now entering Q4, they must surely have had a strong Q3 and good visibility on Q4? They are basically anticipating a £22.5M profit for H2 which looks a stretch but actually similar to last year when they posted a £5.8M loss in H1 and a £19M profit in H2. Also net debt reduced last year during H2 by 11% and epra NTA increased by 10p a share. So you'd expect something similar during this years H2.