Inland Homes Share Discussion Threads

[farnesbarnes] 17/1/2023 09:16

Not a close follower of INL anymore but just read that the CEO was only in the post for 35 days. High staff churn has always been an issue with INL but at this level is profound. Sounds like a pretty toxic place to work. Our co no longer deal with them.

[cc2014] 17/1/2023 09:08

One month in post and part of that was Christmas and he's resigned due to disagreements with the Board.

I suspect he's discoverd that there are things that need to be done and the Board weren't supportive.

I cannot see anything but some form of further bad news down the line regarding the financial position. The debt looks unstaintable to me in anything except a low interest rate bullish housing market.

[cerrito] 17/1/2023 00:22

You may be right about kitchen sinking robertspc1 although I suspect that they will not be making any decisions on this for a month or so. I am going on the basis that with PwC getting to grip with the issues we will not get the full year results till the very last days of march.
Last week I was thinking of buying more but luckily inertia won.

[robertspc1] 16/1/2023 20:47

This is a bit of a false market. No one seems to know the extent of the company's problems. Can only assume the CEO felt the need to kitchen sink things and was unable to get Board agreement. Trouble ahead IMHO

[spob] 16/1/2023 18:19

Pretty poor no reason given in the RNS

[geckotheglorious] 16/1/2023 16:40

The fact it was off 9% BEFORE the RNS hit tells you some knew beforehand.

[suetballs] 16/1/2023 16:15

The company surely has to provide more information.
What has happened today is imo very material.
Do the buyers know something we don't?
Suet

[igoe104] 16/1/2023 15:38

Some decent size buys coming in, plus a 50k at over 20p

[oi_oi_savaloy] 16/1/2023 14:51

Me too in truth Suet.. Can't see me selling really (despite what I rambled on about above).

Everyone is saying 'there's £3 billion in land' but my concern is the cost to elicit that £3bill (in planning costs) and the time it'll take.

Company I work for have just spent £80,500 on planning on a 5 house/unit site just outside Birmingham and that's without the bat and newt survey the council now want......and that's just to get it to the submission stage (NO appeal lodged yet etc etc).

We just need to know what's going on inside INL as soon as possible.

Perhaps there is a sale imminent (and therefore the CEO would be surplus to requirements perhaps so he jumped now than wait). Let's hope anyway.

[scburbs] 16/1/2023 14:46

That's the gross development value. Given the margin performance it is likely it would cost INL at least £3bn to build it out!!

[suetballs] 16/1/2023 14:41

savaloy - I think I'm here to the end whatever happens.
Perhaps an offer is in the ether somewhere which is why the new CEO resigned.
Who the hell knows.
Suet

[igoe104] 16/1/2023 14:36

INL market cap 39. But 3 billion of land in the south west. Thats the reason holders remind, in hope the value will eventually come out...

[oi_oi_savaloy] 16/1/2023 14:33

And I think to myself....'why am i still in this?...............and truth be told I can't really rationalise or justify my investment in it tbh. I should sell and get off this board (and LSE) and move on.......but I can't.........I'm in it for the hope I guess - that I made the right decision, all those years ago......but it's slowly dawning on me that perhaps I didn't then and definitely should get out now. (but I wont). or perhaps I will.....argggghhhhhh.

[geckotheglorious] 16/1/2023 14:27

The fact none of the "majors" have made a move is a concerning sign too.
INL is ripe for a takeover due to all this unnecessary negative sentiment.

[cc2014] 16/1/2023 14:24

Another red flag

[oi_oi_savaloy] 16/1/2023 14:14

I'm still surprised the new accountancy company didn't use their announcement (or rather INL) to air some dirty washing (this goes back 6 months or so). I'm just sitting here waiting for that fateful RNS, that we all think is coming, with the headline 'main contracting business is in a shocking state'......

[suetballs] 16/1/2023 14:13

Disturbing news - I think there must be a terrible mess here for him to resign so quickly.
Just put the for sale sign up.
Suet

[babbler] 16/1/2023 14:12

Not a good sign for sure.

[igoe104] 16/1/2023 14:12

It could be anything, personal reasons, etc etc. If anything untoward has been discovered, it would have to be RNS.

With 3 billion worth of landbanks mainly in the southwest, surely these are great value at 18p.

[igoe104] 16/1/2023 13:41

Strange share this one, its got 3 billion worth of land, but 118 million of debt. Surprised nobody made an approach yet..

[geckotheglorious] 16/1/2023 13:41

Mind boggles.
CEO gone so soon. Only just turned up!
Anyone the wiser vis what might be going on behind the scenes.

I was wondering why it was off 9% before the announcement...Now off 15%

[solarno lopez] 16/1/2023 13:08

They don't last do they

[robertspc1] 16/1/2023 12:59

Oh dear CEO gone ... not a good sign