Mj Gleeson Share Discussion Threads

[deswalker] 02/7/2012 07:51

Agreed. Hard not to be encouraged about prospects when one reads that RNS.

[battlebus2] 02/7/2012 07:46

Jolyon Harrison appointed new Cheif Executive. Looks a positive appointment as they transform the business.

[spob] 27/6/2012 13:41

just bought my third tranche

well within the spread

[battlebus2] 08/6/2012 13:40

Yes Des thanks for that. Now we know the reason for the frequent visits it's the good looking sales woman. Only jesting.

[deswalker] 08/6/2012 12:34

bb,

I had 10 mins with one of their senior sales guys yesterday. He was covering for the usual saleswoman at the 60 house site I mentioned above. I came clean and told him I was a shareholder rather than a prospective purchaser and we chatted about the company as he is also a shareholder. He said things were like chalk and cheese compared with two years ago, that Joleon Harrison has whipped eveything into shape and that the buzz in the company is very good. He didn't seem to think that the management would be looking to sell the company but would be looking to grow over the coming years and use the longstanding family name to good effect. He was obviously guessing at the adoption of such a strategy but did say that the company would be double the size by this time next year. Whether he meant in terms of sites or sales he didn't make clear but they are clearly growing.

Anyway, I continue to believe that this is the best value I can find on the market at the moment and have just added yet another 4k at below 106p.

Des

[battlebus2] 08/6/2012 10:16

Welcome mr ionion.This is getting more unloved by the week and now back to the level of my first purchases but then again not many shares are immune in the current climate. Des a special dividend would be nice but i won't be counting on it. Anyhow top up time!

Harry.

[deswalker] 07/6/2012 10:50

Welcome mr...

I agree this share is totally unloved and can see absolutely no reason for it to be so. They are chomping through their higher purchase price land at a slower rate than the major housebuilders so profits are lagging but chomping they most certainly are. When they finally start building out their cheaper land then margins will pick up (IC reported the CEO talking of a 25% gross margin which is better than the majors) and profits will flow.

I shall be visiting a couple of their sites today. One for 145 houses is at a very early stage with just four houses currently standing three feet high and with large earth movers everywhere else. The other is for 60 houses with about 10 fully built and first people moving in at the end of this month. I need to check on reservations here as I haven't visited for a few weeks.

Anyway I remain totally bemused by the share price which IMO ought to be at least 140p to bring it in line with the other builders and I own rather a lot of shares to back up this opinion.

I fully expect another special dividend to be announced with the Prelims in September. They are smart in calling them "special" so that they can be raised and lowered at will rather than having to follow some dividend policy, but one can be sure that major shareholders will want to keep receiving their dividends once sufficient land for several years building has been secured as now appears to be the case.

Rgds,

Des

[battlebus2] 11/5/2012 16:47

Yes Des keep up the detective work.

[spob] 11/5/2012 14:52

good stuff Des

appreciate the updates

[deswalker] 11/5/2012 07:52

Yes and adding.

The statement caught me by surprise, the website says next Friday. It reads very well.

The are expanding massively here in South Yorkshire. I'm monitoring two sites near me, one for 60 houses started building a few months back and one for 145 houses started two weeks ago. I shall be annoying the sales staff on regular intervals to see how sales are progressing. The former site has four sales from the eight or so houses built to date and lots of interest. The latter site is in an excellent location and will sell well I am sure.

They've also managed to secure planning on a 381 plot site a few miles away in the last two weeks which will take a long time to clear before building but it is great news.

I continue to believe that this is the best asset play on the market on a risk/reward basis.

Des

[battlebus2] 11/5/2012 07:37

Another great update this morning. Shares are surely to follow at some point. Des you still holding?

[battlebus2] 02/5/2012 17:30

I'm a little surprised these are back to the current level but will continue to hold given the serious undervaluation.

[battlebus2] 16/4/2012 10:01

Decent update from Telford homes this morning can only help.

[harmonics] 30/3/2012 09:22

Still looks good value to me.
I guess the share price is drifting a little on no news.

[battlebus2] 28/3/2012 20:55

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.

[harmonics] 07/3/2012 11:44

In Yorkshire there has been planning passed for 22,000 new homes, I wonder if Gleeson are involved?

[battlebus2] 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.

[deswalker] 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.

[battlebus2] 29/2/2012 20:40

Start of a little upwards movement?

[battlebus2] 24/2/2012 17:30

Yes it's a long termer.