Share Name Share Symbol Market Type Share ISIN Share Description
Mj Gleeson Plc LSE:GLE London Ordinary Share GB00BRKD9Z53 ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  51.00 6.3% 860.00 842.00 856.00 856.00 828.00 840.00 1,612,493 16:35:29
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 196.7 37.0 55.6 15.5 470

Mj Gleeson Share Discussion Threads

Showing 226 to 248 of 525 messages
Chat Pages: 21  20  19  18  17  16  15  14  13  12  11  10  Older
DateSubjectAuthorDiscuss
30/3/2012
08:22
Still looks good value to me. I guess the share price is drifting a little on no news.
harmonics
28/3/2012
19:55
Shares being hit a little over the last week. I would have thought the new sustainable planning with all our brown field sites would improve the returns here. May add some more.
battlebus2
07/3/2012
11:44
In Yorkshire there has been planning passed for 22,000 new homes, I wonder if Gleeson are involved?
harmonics
06/3/2012
18:26
A bit of strength here today, a safe haven in these markets with little downside.
battlebus2
29/2/2012
21:11
Yes there's been somewhat of a recovery in builders stocks of late so a little catching up would be great.
battlebus2
29/2/2012
20:56
Some of the large builders are now trading at or just above NTAV. We know that 25% Gross Margins are just 12 months down the line which are superior to those of the large builders. I see no reason why we shouldnt be trading at NTAV over that period.
deswalker
29/2/2012
20:40
Start of a little upwards movement?
battlebus2
24/2/2012
17:30
Yes it's a long termer.
battlebus2
24/2/2012
17:27
The IC gives a 'Hold':- "Trading at a third below NAV. That looks unlikely to change much before evidence clearly emerges that the new strategy is working properly".
azalea
24/2/2012
16:32
Some decent trades today then.
battlebus2
22/2/2012
18:26
Yes Des i'm very happy to hold these indefinitely, as expected we've had a slight retrace mainly brought about by the investors who bought on the tip in I.C. who weren't prepared to wait. That's something i've always hated about tips as they distort the shareprice for a time. Anyhow normality will be restored soon.
battlebus2
22/2/2012
18:05
25% Gross Margin looks good to me. I need to look at some other builders to compare. But we're steadily chomping through all that written down land and then we get on to all the cheap stuff that we've been buying. Then watch the shares react ...
deswalker
22/2/2012
17:58
The IC has written a piece which has some useful info (my bold) ... http://www.investorschronicle.co.uk/2012/02/22/shares/news-and-analysis/gleeson-is-busy-buying-land-Oz4tYlkS8xEXly8A6TTnFM/article.html MJ Gleeson is in the final stages of its seven-year transition from jack of all property trades to housebuilder and planning specialist. Having sold three of its four remaining private finance initiative contracts in the second half of last year, it now has essentially two businesses: building budget homes on brownfield sites in the north of England, and getting planning permission for greenfield land in the south. Unfortunately, however, the dominant housebuilding arm is loss-making and reported a deficit of £800,000 over the six-month period. That's because the company is still building on land it bought at bubbly prices in 2005-07; it wrote down the land to a nil margin in 2009, but house prices have failed to recover since then. Chief operating officer Alan Martin says this dynamic should change next year, when Gleeson starts to build on land bought cheaply after the crash. Gross margins should then be at least 25 per cent. The company is still taking advantage of low prices to add to its land bank, though. It bought 478 plots over the period, with options over a further 1,657 plots. Gleeson also has the huge advantage of a net cash position, having had the good luck to sell most of its commercial property and construction businesses as part of a strategic review before the credit crunch.
deswalker
22/2/2012
08:34
Perhaps but they would be crazy IMO. The numbers are great, the Chairman's statement is one of optimism and their strategy is as clear as day. They've nearly divested all assets beyond Gleeson Homes and Gleeson Strategic Land, with just one PFI project to be sold in the next few months. They've ploughed much of the money back into land within Gleeson Homes with a special divi for the rest. They're gearing up big time in the North which has to attract the larger players looking to add to their land bank. If not then they can just build it all out over time and return the proceeds to shareholders.
deswalker
22/2/2012
08:25
We may see a temporary blip in the shareprice with small profit takers who don't fully understand the long term value but we should soon recover imv.
battlebus2
22/2/2012
08:19
It's worth comparing the narrative here to that in Nov's IMS and last year's Finals. Things I've noted .... - At 30 Jun last year they were selling from 11 sites. At 30 Jun this year they should be selling from 29. A very large increase in 12 months. - Since the IMS in Nov they've agreed to buy a further six sites representing 277 plots above and beyond the large expansion already reported. If all 18 sites are finally bought they will be up to a land bank of 2800 plots. That's quite some expansion on a couple of years ago. Reading between the lines they are gearing up big time. Hopefully any suitors are taking note.
deswalker
22/2/2012
08:05
Yes very undervalued and although a return to a small profit the potential for next half looks much better.
battlebus2
22/2/2012
07:59
NTAV per share = 183.75p Current Assets minus All Liabilities per share = 162.26p Net Cash per share = 28.7p So at 130p we have an EV per share of 101p vs NTAV excl Cash of 155p. That's a 35% discount.
deswalker
21/2/2012
18:26
Where did that spread go. Results in the morning chaps.
battlebus2
20/2/2012
10:02
Yes held Redhall since the old Booth days. don't understand how they let the vivergo situation happen in the first place but i'm giving them the benefit of the doubt. If they ever get the 14 million who knows what they might do with some of it.
battlebus2
20/2/2012
09:48
I know nothing of Quarto but am much more aware about Redhall. If they can get the Vivergo thing sorted then they will be in a very good place, but right now I just don't understand what is going on with that case. I held Chieftain that was taken over by Redhall and have watched it ever since. I've never held because I've always viewed its balance sheet as slightly on the weak side even before Vivergo. It's a typical Chris Mills share. He seems to like good P&Ls, a growth or recovery story and some leverage on the balance sheet. Most of his shares are like that and GLE is unusual for him in being a pure Balance Sheet play.
deswalker
20/2/2012
09:41
One issue to think about is whether a takeover offer by a third party would fully reflect the cash on the balance sheet. Often the stock market stubbonly ignores cash-rich Balance Sheets, perhaps reflecting 50% of the cash balances in the stock valuation but very rarely 100%. Hopefully a trade sale could be agreed to fully reflect the cash balances but if not I wonder whether more special dividends or capital distributions might be a sensible course to get the cash balance down and force any purchaser to pay a full price.
deswalker
20/2/2012
09:35
I'm a fan of Chris Mills myself i think we have mentioned this before. Holding Redhall and Quarto group myself the latter is certainly always seeking add ons, their results for the year are on Wednesday so we will see. Edit i see you've already been on the Quarto thread. Borrowed your link for there hope you don't mind. May add it till RHL as well.
battlebus2
Chat Pages: 21  20  19  18  17  16  15  14  13  12  11  10  Older
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