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
  -6.00 -0.62% 960.00 960.00 994.00 962.00 960.00 962.00 13,493 13:12:04
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 249.9 41.2 61.0 15.7 525

Mj Gleeson Share Discussion Threads

Showing 226 to 250 of 550 messages
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DateSubjectAuthorDiscuss
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
20/2/2012
09:28
Perhaps but I doubt it for now. Over 50% of my total portfolio is either in NAS, OIG or certain portfolio constituents thereof such as GLE. It's fair to say I'm a bit of a Chris Mills buff and I stumbled on GLE by going through his listed portfolio looking for ideas. The last big shareholding that they sold out of in a takeover was Castle Support Services about 18 mths ago. Since then they've taken over GTL themselves (alongside a Scandinavian Inv Co) but other than that they have been pretty quiet. I'm hopeful of a few corporate transactions in the medium term at the latest. I just hope they are sales to third parties (like CSS) and not buyouts by Mills' funds (like GTL). I think GLE is highly unlikely to be bought out by the funds due to the premium required by the other shareholders and the size of the transaction required. A sale to another housebuilder has to be the strong favourite IMO. The question is how close to NAV they are able to achieve or even whether they can get a premium to take into account the tax losses and the upside specifics of the land portfolio not reflected in the accounts due to accounting at the lower of cost and net-realisable-value.
deswalker
20/2/2012
09:06
Very interesting Des! I'm holding three of those shares so my odds on corporate action are much greater than i thought. Thought i was catching you up by rounding my holding to 50k but i see not. Post 46 maybe not be that far wrong after all.
battlebus2
20/2/2012
08:45
bb - worth taking a look at this statement from Oryx last Friday ... http://www.investegate.co.uk/Article.aspx?id=201202170931256261X GLE is their largest holding (7% of Net Assets) and they say ... ...the Manager believes that there is the potential for corporate activity to occur in the Fund's quoted portfolio ... Now it doesn't take a rocket scientist to figure that GLE must be being prepared for some form of corporate action but it's nice to see it effectively implied by the Oryx management (who hold over 27% across three funds). I own some GLE indirectly via both OIG and NAS in addition to my 100k direct holding.
deswalker
20/2/2012
08:35
Slight mark down to 126/130 but it didn't last 5 mins with the buys sending us back to 132.
battlebus2
17/2/2012
16:33
Indeed indeed.
battlebus2
17/2/2012
16:32
The spread continues as I can't better 1.31 on TD waterhouse. Hence I'm standing on the sidelines and will aim to read up more over the weekend, AG PS Hi Battlebus- looks like we may share an interest in more than just Mlin & Moni eh?
aston girl
17/2/2012
15:24
Still 126/131 on my screen Retsuis. The 4p drop is only the last recorded AT trade not the true price. Cannot see much of a drop with results on the 28th ,they make shake a few sells but the path will be upwards markets allowing.
battlebus2
17/2/2012
14:43
bb Thanks,price has dropped this pm
retsius
17/2/2012
09:45
Retsuis for larger companies with lots of buyers the spread is low as there are plenty of buyers for the sells but for smaller companies like GLE there are relatively few trades in a week. The mm's can offset their risk of being left with shares at a price no one wants buy at by increasing the spread. Lots of tricks up the sleeves of those mm's. Lower the spread to encourage you to buy or raise the spread to put off buyers here i think they are playing safe after such a rise.
battlebus2
17/2/2012
09:29
battlebus2 Why is there such a spread between bid & offer prices?
retsius
16/2/2012
08:11
No stopping the buyers even with the 7p spread at the open.
battlebus2
15/2/2012
18:51
Start of the long catch up. Overcome my physcological fears and bought some more Des.
battlebus2
15/2/2012
17:20
Very nice rise at the finish.
retsius
15/2/2012
12:44
Spread now at 5p, designed to inhibit trading prior to the 22nd also, ADVFN is showing 2883 shares traded with no share price increase but a 3.5p increase on the offer...strange!
harmonics
14/2/2012
12:13
Nice to see the rise continuing. Psychologically it can't be easy to buy at these levels when it has been trading lower for the last twelve months or so. But prospective purchasers are hopefully realising that the company is in an even stronger position than back then and that it was the low prices that were anomalous and not current levels. Just look at its performance vs other housebuilders over the last year to see how it is only now starting to catch up. The Balance Sheet issued next week should be an absolute cracker IMO. As clean as a whistle with huge unrecognised tax losses held in reserve. Good luck to all holders, and well done to new buyers who have overcome the anxiety not to buy on a spike. IMO this is worth £2 so £1.30 still represents quite an opportunity.
deswalker
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