Smart (j.) & Co. (contra... Share Discussion Threads

[jonwig] 25/10/2018 14:57

Buy these and wait forever to realise any value, given the controlling interests. or they take it private. Construction companies have done this before: Tolent, Pochin's.

[spob] 25/10/2018 14:54

in the meantime, i'm happy to collect those dividends

[spob] 25/10/2018 14:52

time i guess

if you fill your basket with lots of companies like this, eventually something good will happen

[timnorris] 25/10/2018 14:29

50% discount to NAV.....appears screaming value.....but whats going to close the gap?!

[timnorris] 25/10/2018 14:28

50% discount to NAV.....appears screaming value.....but whats going to close the gap?!

[spob] 25/10/2018 12:53

Final Results

[spob] 05/3/2018 10:47

Website - [...]


108p Mcap £48.1m, Nos 44.5m







1 Year





5 Year








Major shareholders

The two Smart directors hold approx 64% of the shares.

[mw8156] 17/11/2017 14:40

You're right; there is now a 3m pension surplus as well as 18m net cash and 64m of property so the share looks remarkably cheap as ever.

[russman] 17/11/2017 08:52

Read the Annual Report.Pension appears to be in surplus.Contributions are going up a couple of %.Dont see it as a problem.

[mw8156] 29/10/2017 22:14

also good to see they treat their employees well by sticking to the terms of the pension scheme even though it was closed in 2003; seems like a decent outfit with old-fashioned but excellent sort of Calvinist culture to do the right thing by employees and shareholders.

[mw8156] 29/10/2017 10:57

The Chairman and family are good to the other shareholders, though; they do not take too much out of the company and waive the divi not taking it for themselves.

[topvest] 27/10/2017 17:09

Blimey this Chairman has to be the most glass "half-empty" Chairman on the LSE. Doom and gloom every time! Still a value play.

[russman] 27/10/2017 08:56

Cannot see the last triennial valuation.
Have to wait for the annual report.

[mw8156] 26/10/2017 12:40

seems they have 45m shares and 21m net in cash but there is a pension deficit?

[russman] 26/10/2017 10:59

There is 26m in cash.Just make a tender offer to the minority.

[russman] 20/10/2017 10:25

The share price moved.

[sirhedgealot] 07/2/2017 11:11

Results continue to improve.

[little beaker] 18/12/2015 09:58

Please note that the market cap on the advfn quote page is incorrect. Their market cap is actually a couple of percentage points lower than quoted due to the fact advfn hasn't rebased it following share buybacks.

Fingers crossed more buybacks to come if the market opportunity arises

[prop_joe] 11/12/2015 17:05

Hi Glassboy, if they are listening to me then we should probably be worried!

Agree it is one to be patient with and if they can mop up shares at these levels then we should do alright in time. From their website they have a couple of sizeable housing projects underway which will hopefully help things along this year.

[glassboy] 11/12/2015 13:26

Seems they are listening to you Joe, 50000 bought back today. Will be interesting to see how the proposed boost to Housing Association builds develops over the next few years. And whether the healthier construction / property sector finally helps Smart get turnover and profits back up. One to be patient with.
Gb

[prop_joe] 08/12/2015 11:00

Thanks Russman,
Shows what a prudent bunch they are to keep so much cash on hand. I'm hoping that they use some of it to buy back more shares. Cash isn't earning much interest and reducing the number of shares in issue increases net assets attributable to each remaining share.
Regards

[russman] 08/12/2015 10:39

I read the Annual Report & you are correct, "monies on deposit" are cash balances on deposit longer than 3 months. It all helps.

[prop_joe] 02/11/2015 08:34

'Monies on deposit' could well be cash placed on long term deposit (i.e. greater than 3 months) or amounts invested in money market funds in order to get a better interest rate than is available for immediate access.

Accounting rules require that these sort of balances are identified separately from cash and cash equivalents (which should only include amounts that are available to spend either immediately or without much of a delay).

[russman] 02/11/2015 06:25

Don't quote me but I thought "monies on deposit" were the deposits held at the solicitors in respect of buying and selling future developments / properties. I presume the market is warming up, more transactions so this amount was significant this year. Maybe the timing meant at the year end, there was a transaction(s) pending completion.