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
  0.00 0.0% 980.00 972.00 980.00 990.00 948.00 948.00 38,867 16:20:04
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 249.9 41.2 61.0 16.1 536

Mj Gleeson Share Discussion Threads

Showing 201 to 224 of 550 messages
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DateSubjectAuthorDiscuss
10/2/2012
17:41
Cheers bb - the author basically restates what I've been saying here. Good on him. Lots of these property shares sit on discounts but have large gearing. I prefer to do everything in debt-adjusted terms and quite often on that basis one can see why these discounts exist. But here it just magnifies the anomaly due to all that cash, as the author explains. Also the property is not some old derelict warehouse hoping to generate a yield with no hope of finding a buyer, it is land for housebuilding with a clear market either in its raw or developed state. The IC list only has GLE as 4th cheapest. I'll have to force myself to look at the cheaper shares (TRE, RES and TEF), although on first read I don't understand TRE, am not sure about the smell of TEF and RES looks a bit complicated too. On balance I think I'll stick with GLE :o) For once I made some very timely switches in the pension and got lucky with the availability of stock followed by the tip. But I'm not in for 10p here, I'm in for £2 per share at least. Des
deswalker
10/2/2012
17:13
Yes your buying very timely Des. Looking forward to the results. As you say the balance sheet looks fabulous not many companies on the markets with little or no intangibles. A wonderful week all round lets hope it continues! Started the red a little early to celebrate.
battlebus2
10/2/2012
17:05
A very good day today. Welcome to any new holders.
deswalker
10/2/2012
14:27
Up again on the bid, £140 by results and £2 with new bid.
battlebus2
10/2/2012
13:36
And here's me about to tell you a bid is coming with results ;-))
battlebus2
10/2/2012
13:26
Will do, whenever the useless post man turns up :)
spob
10/2/2012
13:16
I gather that GLE is in the Investors Chronicle Bargain Portfolio for 2012. I had an inkling it might be based on previous reports and the fact that it is anomalously cheap IMO. Amazed I was able to pick up another 23k below 110p yesterday and the day before. I'll have to try and stop myself from buying any more. I still maintain that it is worth 200p when one includes the unrecognised tax losses on top of the Balance Sheet and the activist register. If anyone has access to the IC comments then please post them here.
deswalker
10/2/2012
08:54
Bought quite a lot more on that dip so pleased to see the rise this morning. Website says Interims will be announced on 22/2. The Balance Sheet should be a thing of beauty IMO. Regular newsflow on the website looks very positive with a new regional office re-opened in Sheffield and lots of sites in development. It's difficult to know what they'll do on divis, but I suspect they like the flexibility of ad-hoc special dividends. That way they can raise and lower them at will depending on their cash requirements without the market expecting some sort of progressive policy. That said, I do expect them to be pretty regular - perhaps every 12-18 months.
deswalker
05/2/2012
18:35
What's the view on this years dividend i wonder.
battlebus2
05/2/2012
16:03
Bought in for the Divi but would be chuffed if the share price rallied Looks a solid earner. Had to pay 111p on Wednesday so have already made the spread back. Looking to holdlong long term and may add.
harmonics
03/2/2012
14:44
Doubled my holding here yesterday surprised these not moved much recently oh well, at least it allows me to build a bigger position as funds are released elsewhere
spob
02/2/2012
19:14
Yes i'm expecting a decent rise till results. Don't hold anything like that Des around 20k but plenty of time to add.
battlebus2
02/2/2012
19:09
Yes. I nearly added more today but missed the narrow spread. As you say, results in three weeks or so. I still think this is the cheapest asset share I can find. Consequently I own 77k at just below 110p after netting off the special divi. I think it's worth close to 200p when one includes the unrecognised tax losses.
deswalker
02/2/2012
18:58
Added today while the price dropped a little, results in a few weeks Des :-)
battlebus2
12/12/2011
08:03
Enjoy those holidays Des heading on mine next week. Another tick up this morning :)
battlebus2
12/12/2011
07:44
Hi bb, This share will remain a slow burner whilst management steadily line up the ducks for a takeover, but it looks a very compelling investment to me. I wasn't at the AGM as I'm away on hols. Des
deswalker
09/12/2011
17:58
I believe you are right Des. Decent AGM statement today did anyone attend? Visitor numbers are up so sales should follow all good imv.
battlebus2
22/11/2011
17:08
Over the weekend I did some work on the IMS and the 2011 Annual Report. The result of these musings is that I've increased my position here. Observations that have caused this increase in confidence are ... - The IMS confirms that £7.5m has been received for the 3 PFI projects and that they hope to sell the last one this year. - Page 56 of the AR confirms that they received a further £4.245m in cash from their biggest housebuilding customer on the day after the Balance Sheet date thus greatly reducing their credit risk and increasing their cash balance. - The IMS showed big progress with the Strategic Land division with three substantial sites on the verge of getting planning permission (subject to s106 agreements) and then sold on before the financial year end. - Page 61 of the AR confirms that they have unused tax losses of £85.575m not shown on the Balance Sheet but carried forward indefinitely. These must be worth quite a bit to any acquiror on top of the reported NTAV. - The expansion of their land bank using cash balances at a time when debt financing is very tough to find, competition weak and hence bargains to be had. - The government's support for the housing market announced this week. IMO excluding the future divestments and land purchases, adjusting downwards for the dividend and netting off the cash balance from both the market cap and the NTAV one is currently able to buy essentially £1 of land (valued at the lower of cost and net realisable value so there is some possible upside there too) for a fair bit less than 50p. I challenge anyone to find any cheaper asset play in this sector, and this ignores the unused tax losses and the clear strategy to simplify and ready the company for a trade sale in the next few years. I honestly can't see any asset play cheaper than this on the market but would appreciate any thoughts on what I might be missing. Des
deswalker
19/11/2011
09:54
Just catching up here bb. The IMS reads well IMO. Pleased to see the 3 PFI sells have gone through and that they hope to sell the other one this year and wind that division down. The perfomance of the Strategic Land division looks to be excellent and ignoring the timing issue around housing association purchases which will have to come through in due course to increase their stocks the housebuilding side is going well too. They are clearly gearing up their land bank at a time when housing is in very short supply, mortgage finance is improving and with the possibility of some form of government mortgage guarantee scheme to be announced next week. All looks to be very much on track for IMO a sale of the company to a major on a two year view with divis in the meantime. Des
deswalker
18/11/2011
07:51
IMS out Des, makes fair reading imv.
battlebus2
17/11/2011
17:07
The IMS is due within the next week.
deswalker
17/11/2011
16:57
Beats most other shares.
battlebus2
17/11/2011
16:32
Nice rise today---- 1p
retsius
09/11/2011
18:56
Very true Des. Plenty of down days to come by the look of it. Added a few more before x divi.
battlebus2
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