Mj Gleeson Share Discussion Threads

[lundhousegreen] 07/2/2005 10:35

GLE mentioned in Monday's Express as a possible takeover target, a capital venture company being the most likely buyer.

[agnes3] 03/2/2005 10:49

and they will be good, get in now, also broker deal just done, they are gearing up!!!!!!

[lundhousegreen] 28/1/2005 16:27

Gleeson RNS
INTERIMS DATE - TUESDAY 22 MARCH 2005

Gleeson, the construction services, homes and property group, proposes to
announce its results for the half year ended 31 December 2004 on Tuesday 22
March 2005.

[zeppo] 18/10/2004 10:10

lundehousegreen

All ring a bell.

I am selfishly reluctant to widely share the brokers as they often, as you must know, buy into situations which they sell on at par the same day.
I am not looking for extra competition in these situations.

z

[lundhousegreen] 16/10/2004 19:56

Zeppo,
BBC have done well, again tipped by my broker. Every one they have tipped so far have done well, in the medium to longer term, so I don't see why they are not right in tipping Gleeson' s future prospects.
LHG

[lundhousegreen] 14/10/2004 19:42

Zeppo,
Unfortunately I do not have the chance to attend AGM's,
but rely on feedback from my broker who does get to the meetings of
those companies they recommend.
They are still keen on GLE, and reckon the fundamentals are still right.
Looks like one to tuck away IMO.
LHG

[zeppo] 13/10/2004 11:18

lundehousegreen

I am from Lancashire but have lived in the South East since 1976.

If you get to any Northern meetings let me know.

_______________

Questor in the Telegraph has suggested that GLE is best left alone for now.

Que sera sera!

z

[lundhousegreen] 12/10/2004 19:48

Zeppo,
No, I live a long way from London, and never get there,
but our brokers do appear to recommend similar
stocks at about the same levels, i.e, GLE, & JHD.

[zeppo] 12/10/2004 18:10

lundehousegreen

Just came back to this thread

Re your posting No 6: Do you attend AGMs in the London area?

We may bump into each other if you do.

z

[jumbo66] 12/10/2004 07:17

LONDON (AFX) - MJ Gleeson Group PLC, the construction services, homes and
property group, said its pretax profit nearly doubled in the year to June 30
2004 but a slowdown in the housing market may hold back a simularly robust
performance in the current year.
A strong performance from the property division pushed pretax profit up to
17.6 mln stg from 9.5 mln on group turnover of 645 mln stg, up from 624.6 mln.
The group said its Homes Division also reported a significantly better
result. The Construction Services Division?s profit reduced by two-thirds.
Gleeson's net asset value at the end of June was 313 pence per share, up
from 291 pence a year earlier.
The board also said it would increase the dividend for the year to 7.6 pence
from 7.0 pence. A final dividend of 6.20 pence per share will be paid, up from
5.65 pence.
The Construction Services businesses increased their turnover by 1 pct to
528.3 mln stgm, but operating profit decreased to 1.5 mln stg from 4.6 mln.
Gleeson said this represents a disappointing operating margin of 0.3 pct, down
from 0.9 pct, reflecting both unsatisfactory returns from a number of now
completed design and build projects undertaken by the Southern and Northern
Building Divisions and higher than anticipated costs associated with the
withdrawal from building, as distinct from civil engineering, in Scotland,
announced last year.
The Construction Services order book at Oct 1 2004 totalled 871 mln stg, of
which over 70 pct related to relatively low risk partnering agreements for
either utilities or the public sector.
Gleeson Homes increased its operating profit by 35 pct to a record 12.3 mln
stg, an operating margin of 11.0 pct, up from 8.8 pct. The board said that,
despite less buoyant market conditions, further progress ought to be possible
during the current year and a substantial increase in turnover should outweigh
any decline in operating margins.
Gleeson Properties made an operating profit of 5.3 mln stg, up from 2.6 mln,
with a profit on sale of investment properties of 5.5 mln stg, up from 0.1 mln.
The company said its planned completion and sale in the current year of a number
of development properties should ensure that Gleeson Properties once again makes
a useful contribution to group profits.
Executive chairman Dermot Gleeson said the recent slow down in the housing
market may well preclude a further significant uplift in profits in the current
year.
However, he said the board remains convinced that the group's strong
presence and reputation in all of the markets in which it operates, coupled with
its continued commitment to spreading risk, bodes well for the creation of
shareholder value in the medium and longer term.

[bomfin] 09/9/2004 09:50

Thanks for that Skyship.

Wish I'd bought more of these. Got curious again when they did 5 for 1. Watched it and bought after it turned. Didn't buy a lot for the reasons you state. If they dispose of the housing they should make a nice profit which would put NAV even further above Market Cap. Could go to £3 with a good disposal. Fingers crossed. imho dyor

bomfin

[skyship] 09/9/2004 09:37

Hi bomfin - I saw your post on the PLR thread.

Sentimentally attached to this stock as it gave me a great turn 3 years ago - from c.625 >>> 1100 I seem to recall.

Anyway, I looked at the chart when they were still @ the 197-205 level; and thought that a news inspired rise could well be on the cards if some worthwhile disposal were to take place; but without that, GLE have been rather accident prone in the past and the earnings have never matched the assets. I thought that the Oct'03 downward trendline converging with the Apr'04 support @ 212p could limit any advance to that level in the short-term.

Still, the price action over the past 24hrs has certainly provided a good turn. Not chasing, so will wait to see if there is a pullback.

Incidentally, am posting on PLR also.

[lundhousegreen] 08/9/2004 20:11

Zeppo
That sounds like the firm of "very sound" brokers I use, as I also
bought last week at 191p upon their recommendation, and they are not
often wrong as they do plenty of research, and visit the companies they
recommend. I have done a little research also, and future prospects looks
good IMO, currently trading well below NAV. DYOR.
Results 12th October.

[bomfin] 08/9/2004 17:31

I also have a modest amount as Gleeson have disappointed before. Somehow I think it will be different this time. My hunch is they'll sell the housing division for a sizeable profit. All speculativelly imho dyor

bomfin

[zeppo] 08/9/2004 17:15

Recommended by one of my brokers (they are usually very sound)

I bought a modest amount at 1.91 a week ago.

z

[bomfin] 07/9/2004 12:44

Well,

Long time since I posted here. Not surprising really!.

Results will supposedly be good and market cap is at a huge discount to net assets.

The 5 for 1 stock change is also interesting.

I wonder if it was a prelude to them disposing of the housing and property sections. Either or both. If it was this could be mega.

Speculative imho dyor.

bomfin

[bomfin] 25/3/2004 14:13

ydderF,

Signs of life out there. Great!

Many house builders raking in cash at present. Land bank pressure may see them on the acquisition trail. Not impossible that there's big upside in Gleeson's homes division. Also noticed they're talking about modest property disposals as well from the property division. Could show some decent profits as not sure they've been revalueing on a yearly basis. Just a few thougths. imho dyor.

bomfin

[ydderf] 25/3/2004 13:17

i like 'em - but not for penny punters and muppet cfders.......a long term value play

[bomfin] 22/3/2004 10:45

Gleeson interims tomorrow.

Any thoughts. Strength in housing market to support a recovering Gleeson?
Still on big discount to NAV.

bomfin

[njl53] 28/8/2003 15:00

GLE up 45p in much larger volume than usual today (over 17,000 shares) - have they been tipped anywhere??

[merstham] 22/7/2003 14:41

But with the new enormous road building just about to be in place - surely McAlpine will be one of the major beneficiaries!!!

[locust] 14/7/2003 17:12

Over the past few months GLE has risen quite spectacularly - so I'm suprised this BB is so quiet ! I only know of the company through the Gleeson Homes part - but given recent residential developments I decided it was well worth buying into. Interesting X trade today - someone is obviously short of stock. But why would they be needing stock ? Hmmm, could be interesting. WDIK etc !