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Smart (j.) & Co. (contractors) Plc

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Share Name Share Symbol Market Type Share ISIN Share Description
Smart (j.) & Co. (contractors) Plc LSE:SMJ London Ordinary Share GB00B76BK617 ORD 2P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 164.50 4,146 08:00:04
Bid Price Offer Price High Price Low Price Open Price
162.00 167.00 164.50 164.50 164.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Bldg Cnstr-gen Contr,op Bldr 7.43 6.62 16.20 10.28 67.19
Last Trade Time Trade Type Trade Size Trade Price Currency
14:14:29 O 323 163.35 GBX

Smart (j.) & Co. (contra... (SMJ) Latest News (1)

Smart (j.) & Co. (contra... (SMJ) Discussions and Chat

Smart (j.) & Co. (contra... Forums and Chat

Date Time Title Posts
17/5/202306:30*** J. Smart & Co ***39
25/10/201815:29A smart Scottish company?42
23/12/201117:18IC Comment9

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Smart (j.) & Co. (contra... (SMJ) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type

Smart (j.) & Co. (contra... (SMJ) Top Chat Posts

Top Posts
Posted at 09/3/2022 06:45 by russman
cash pays zilch at the mo.
What fixed rate could SMJ mortgage their prime property.
swap at say 6% for 20yrs.
Use the mortgage to large the buybacks from family, saving the divi.
The risk is a property crash / banking crisis.

Posted at 23/11/2021 14:10 by 1tx
Thanks for information profdoc.Industrial property does seem to be flavour of the month with institutional investors with office & retail property facing uncertain demand so perhaps it is a good time to sell if SMJ can build & let replacements properties in the future at a lower price.I had wondered if the family was thinking of buying out minority holders with a company share buy back offer with the sale cash but I think your explanation is more likely.
Posted at 22/11/2021 10:24 by 1tx
The proposal to sell a large part of the property portfolio is interesting;what is the company going to do with the cash?SMJ has self built and self financed its rental properties over many years & as far as I am aware not bought properties from third parties to replace the odd property sold from its rental portfolio;it does not need cash and has no net debt to pay down as its overdraft is almost twice covered by cash.The companies development resale projects are self financed as well.I have a fairly modest shareholding here as nothing has happened for years and may not happen now......
Posted at 06/11/2019 09:43 by gaiusgracchus
They made 7.56m in other operating income, which is rental income from investment properties - will have to wait for the annual report to confirm that, but pretty sure there's nothing else that goes into this line.

Take out this line and operating income (before property revaluations) goes to -4.65m. So how much of the 6.26m of operating expenses goes on looking after the investment properties? Certainly not 4.6m of it! Seems to me that the contracting business is very unprofitable and the income from the investment properties is propping it up.

I used to think you could capitalise the investment properties at, say, 10x. This gets a 76m valuation for the investment properties and wow, don't the company look cheap at 50m? But actually the rest of the business is a cash drain.

In conclusion, SMJ shares don't look obviously cheap at these levels. Am I missing something?

Posted at 23/4/2019 15:30 by spob
The Board announces an interim dividend of 0.95p per share (2018, 0.95p) to be paid on 3rd June 2019 to shareholders on the register at the close of business on 10th May 2019.
Posted at 17/11/2017 14:40 by mw8156
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.
Posted at 20/10/2017 11:25 by russman
The share price moved.
Posted at 18/12/2015 09:58 by little beaker
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

Posted at 08/12/2015 11:00 by prop_joe
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.

Posted at 29/10/2015 10:56 by little beaker
For the full results, see

The ADVFN report is truncated for some reason, missing some of the accounts.

Note the cash position increasing by £5million to £13.3 million, not bad on a company with market cap of approx £47m.

Strip the cash from net assets and market cap and you would have a market cap of £34m with asset backing of £75m.

My opinion is that these shares are undervalued. I would hope to see further share buybacks.

Smart (j.) & Co. (contra... share price data is direct from the London Stock Exchange
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