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Share Name Share Symbol Market Type Share ISIN Share Description
St.modwen Properties Plc LSE:SMP London Ordinary Share GB0007291015 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  5.00 1.67% 305.00 303.50 305.00 305.00 297.00 297.00 542,883 16:29:57
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 429.9 58.9 22.8 13.4 678

St.modwen Properties Share Discussion Threads

Showing 401 to 425 of 675 messages
Chat Pages: 27  26  25  24  23  22  21  20  19  18  17  16  Older
DateSubjectAuthorDiscuss
02/12/2014
07:56
Trading Update YEAR OF OUTPERFORMANCE UNDERPINNED BY REGIONAL MARKET RECOVERY St. Modwen Properties PLC (LSE: SMP), the UK's leading regeneration specialist, today provides a trading update for the financial year ended 30th November 2014. Initial indications suggest that our full year results will reflect an uplift in property valuations, arising from both market driven movements in an improving regional market and our own value add development and asset management activities, which will exceed management expectations. Profit before all tax is therefore likely to be at the top end of market expectations. We continue to be successful in securing planning permissions for our commercial and residential sites. This was most notably demonstrated by a resolution to grant planning from the London Borough of Wandsworth for the redevelopment of New Covent Garden Market in Nine Elms, London received in November 2014. We are now working towards concluding the Section 106 Agreement with the target of achieving unconditional planning status in the first half of 2015. Activity across our commercial portfolio has accelerated this year as the regional market has continued to recover. We have a significant number of development projects now under construction across the UK, including over 1 million sq ft at Swansea University's Bay Campus and the 150,000 sq ft Marks & Spencer store at Longbridge, Birmingham. Occupational demand continues to gather pace. This is clearly manifested by the performance of our well let income producing portfolio which is providing a strong revenue stream to underpin the running costs of the business. The residential market has continued to perform well and overall profits from residential development remain in line with expectations set out at the half year. Demand for residential land is good and we continue to secure disposals above book value in London, across the South East and in the regions. Having substantially restructured our debt portfolio at the half year and with positive net cash generation in the second half of the year, we remain in a strong position financially, approaching £200m of undrawn facilities in place. Bill Oliver, Chief Executive of St. Modwen, commented: "Our commitment to the UK regions is paying off, with good returns already being achieved as we continue to grow our active development portfolio with new commercial and residential opportunities, underpinned by the upturn in the regional property market. "This, combined with our successes in the residential market and in London and the South East, leads us to anticipate record profits for St. Modwen for the 2014 financial year." -ENDS-
skinny
16/11/2014
17:56
broadwood I'm not sure if you are still invested here, it doesn't appear to be a popular site, but if so would you agree that considerable upside could be due here before Christmas. We have had an RNS stating that profits will be significantly ahead of market expectations and a further one confirming the go ahead on the Covent Garden site. A director has just bought 15000 shares and I believe a trading update is due in early December. The building trade has been well supported recently by the government and indeed the media and I feel a large jump is imminent. regards
peaeff
01/10/2014
09:44
After a strong third quarter in its regional, commercial and residential markets, property developer St Modwen said it now expected to beat profit consensus forecasts for the full year. The FTSE 250 brownfield specialist said all areas of the business were making "excellent progress, supported by tangible growth in regional markets across the UK" meaning pre-tax profits would be "materially ahead of 2013". Commercial property saw interest accelerating from potential tenants and investors, with an increase in construction activity and growing regional commercial pipeline. Since the half year, St Modwen has sold £38m of assets in investors, with all transactions being above their book value in May and the funds reinvested in asset management, new property or land. In residential, two joint ventures with Persimmon enjoyed "good sales rates", with 617 units completed in the financial year to date, while St Modwen's has agreed terms for circa £80m of land sales to housebuilders. Exchange or completion of these sales is expected by the year end, all at above book value. Chief executive Bill Oliver said: "We continue to add to our UK development pipeline as we start on site with a variety of projects, including the 150,000 sq ft Marks & Spencer store at Longbridge, Birmingham and the next phase at Swansea University's £450m Bay Campus development. "This increase in construction activity illustrates the improvement in the commercial property market, both in general and specifically in the regions, which are now starting to experience good tenant and investor demand. "Similarly, the residential market continues to gather momentum with strong sales rates being achieved across all of our housing sites. Analysts were impressed, with Oriel saying it will review its NAV forecast of 335p for the full year, which reflects growth of 12%. "The shares have been trading sideways for much of this year and at 367p are, we estimate, trading at only a small premium to NAV, which given the upside from New Covent Garden due potentially in full year 2015, looks good
broadwood
01/10/2014
08:47
What a cracking update, maybe the brokers will have a good rethink on this one and upgrade us a lot.
peaeff
01/10/2014
08:13
Seconded. Cushty.
broadwood
01/10/2014
08:09
Luuvvlly jjuubbllyy. This time next year Rodney, we'll all be miwwionnairs. Sorry bw, I could't resist. red
redartbmud
01/10/2014
07:21
Superb. As a result, management expectations for the full year's profit before all tax have increased beyond existing market consensus and this is now expected to be materially ahead of 2013.
broadwood
01/7/2014
13:15
Better-than-expected first-half numbers from property and land regeneration firm St. Modwen Properties on Tuesday prompted Numis Securities to upgrade its recommendation from 'add' to 'buy', saying that the stock's valuation "feels too low". "Momentum across all aspects of the business is improving, with the demand for residential land growing and corporates now starting to spend on capex after significant balance sheet de-leveraging over the past five or so years," Numis said
broadwood
01/7/2014
09:52
Numis Buy 373.05 358.60 441.00 441.00 Upgrades
skinny
01/7/2014
09:16
St. Modwen profits soar as confidence returns to regional property Half-year profit jumps 32% - Increased dividend payment - Residential and commercial valuations improving UK regeneration specialist St. Modwen Properties posted a 32% increase in half year pre-tax profit, increased its dividend and said improving valuations particularly in the residential sector underpin its confidence for its full-year performance. Pre-tax profit rose 32% to £51.3m for the six months to May 31st 2014 from £38.8m a year earlier. Net asset value (NAV) per share rose 5.5% to 294.2p from 278.8p per share a year earlier. The developer posted realised property profits of £19.1m, up from £16.1m a year earlier. Chief Executive Bill Oliver commented: "Against a backdrop of improving optimism across the country, we are prudently increasing our pipeline of development activities and actively pursuing new opportunities to meet growing investor interest and occupier demand. "Whilst we are still some way from a wholesale UK recovery, confidence is starting to return to the regions. Here our traditional engine of growth, commercial development, is beginning to gain momentum with over 1m sq ft of regional commercial projects in progress. This combined with our improving valuations particularly in the residential sector, underpin our confidence for continued outperformance as we work towards the full-year." The FTSE-250 group said it is making good progress across all major future projects including New Covent Garden Market with the submission of a planning application in May 2014 for the redevelopment of the site. St. Modwen underlined its confidence in future trading with a 10% increase in its interim dividend to 1.463p per share.
broadwood
01/7/2014
09:05
JP Morgan Cazenove Overweight 373.20 358.60 425.00 425.00 Reiterates Liberum Capital Buy 373.20 358.60 432.00 432.00 Reiterates
skinny
01/7/2014
08:43
bradwood I think a trip to the golf course would be appropriate at this stage. Calm down dear. Seriously, good results and good visibility going forward. I wonder why SMP is one of my largest investments? Hmmm....... red
redartbmud
01/7/2014
08:21
http://www.cityam.com/1404197712/st-modwen-properties-half-yearly-report-shows-effects-recovery
broadwood
01/7/2014
08:19
Nice early bump on those figures.
broadwood
01/7/2014
07:29
- Regeneration specialist St. Modwen Properties reported a 32% increase in profit before all tax to £51.3m in the half-year to end-May (H1 2013: £38.8m). - 6% increase in shareholders' equity NAV per share to 294.2p (Nov 2013: 278.8p per share) and EPRA NAV up 6% to 314.4p per share (Nov 2013: 297.7p per share) - Realised property profits of £19.1m (H1 2013: £16.1m) - Net valuation gain of £35m (H1 2013: £23m) comprising added value gains generated by the Company of £16m (H1 2013: £18m) and market driven valuation gains of £19m (H1 2013: £5m) - Launch of £100m convertible bond in February 2014 and refinancing of debt portfolio, extending average life to 4.2 years (Nov 2013: 2.5 years) and reducing weighted average cost of debt to 5.1% (Nov 2013: 5.6%) - 10% increase in interim dividend to 1.463p per share (H1 2013: 1.33p per share) Operational Highlights - major projects gathering momentum alongside growth in commercial property sector - Increasing commercial development pipeline across the UK reflecting the gradual, overall improvement of this market - Good progress made across all major projects: o New Covent Garden Market - submission of a planning application in May 2014 for the redevelopment of the New Covent Garden Market site o Swansea University, Bay Campus - next phase of the £450m campus now agreed with Swansea University, comprising an additional 545 student apartments. Delivery of the first phase progressing extremely well and is on target for the scheduled completion in September 2015 o Longbridge, Birmingham - a resolution to grant planning permission was secured on 26th June 2014 for the second phase of the Town Centre, comprising a 150,000 sq ft Marks & Spencer full-offer store and 45,000 sq ft of additional retail accommodation o London residential sites - excellent sales rates continue to be achieved for both the Millbrook Park (RAF Mill Hill) and St. Andrew's Park (RAF Uxbridge) sites, demonstrating the favourable conditions in the London residential market. - Positive outlook for residential land activity and good sales rates being achieved for both St. Modwen Homes and the Persimmon joint venture, with increasing demand at a growing number of sales outlets. Bill Oliver, CEO, commented: "Against a backdrop of improving optimism across the country, we are prudently increasing our pipeline of development activities and actively pursuing new opportunities to meet growing investor interest and occupier demand. "Whilst we are still some way from a wholesale UK recovery, confidence is starting to return to the regions. Here our traditional engine of growth, commercial development, is beginning to gain momentum with over 1m sq ft of regional commercial projects in progress. This combined with our improving valuations particularly in the residential sector, underpin our confidence for continued outperformance as we work towards the full year."
broadwood
01/7/2014
07:04
Look fairly steady.
broadwood
01/7/2014
07:01
Half Year Results Financial Highlights - excellent increased returns - 32% increase in profit before all tax to £51.3m (H1 2013: £38.8m) - 6% increase in shareholders' equity NAV per share to 294.2p (Nov 2013: 278.8p per share) and EPRA NAV up 6% to 314.4p per share (Nov 2013: 297.7p per share) - Realised property profits of £19.1m (H1 2013: £16.1m) - Net valuation gain of £35m (H1 2013: £23m) comprising added value gains generated by the Company of £16m (H1 2013: £18m) and market driven valuation gains of £19m (H1 2013: £5m) - Launch of £100m convertible bond in February 2014 and refinancing of debt portfolio, extending average life to 4.2 years (Nov 2013: 2.5 years) and reducing weighted average cost of debt to 5.1% (Nov 2013: 5.6%) - 10% increase in interim dividend to 1.463p per share (H1 2013: 1.33p per share) Operational Highlights - major projects gathering momentum alongside growth in commercial property sector - Increasing commercial development pipeline across the UK reflecting the gradual, overall improvement of this market - Good progress made across all major projects: o New Covent Garden Market - submission of a planning application in May 2014 for the redevelopment of the New Covent Garden Market site o Swansea University, Bay Campus - next phase of the £450m campus now agreed with Swansea University, comprising an additional 545 student apartments. Delivery of the first phase progressing extremely well and is on target for the scheduled completion in September 2015 o Longbridge, Birmingham - a resolution to grant planning permission was secured on 26th June 2014 for the second phase of the Town Centre, comprising a 150,000 sq ft Marks & Spencer full-offer store and 45,000 sq ft of additional retail accommodation o London residential sites - excellent sales rates continue to be achieved for both the Millbrook Park (RAF Mill Hill) and St. Andrew's Park (RAF Uxbridge) sites, demonstrating the favourable conditions in the London residential market. - Positive outlook for residential land activity and good sales rates being achieved for both St. Modwen Homes and the Persimmon joint venture, with increasing demand at a growing number of sales outlets.
skinny
30/6/2014
17:07
On the corporate front St.Modwen's, the property regeneration specialist, will become the first property company to update investors this week. In particular, it will be the first to do so in the aftermath of recently heightened speculation regarding a first increase in Bank Rate. Nevertheless, some analysts at least seem relatively sanguine given its gearing to the economic recovery
broadwood
27/6/2014
09:56
Interims 1st July.
skinny
27/6/2014
09:49
Regaining its poise.
broadwood
19/6/2014
10:23
Looks oversold to me. Last market update very positive and results due 1/7/14.
uhound
16/5/2014
11:17
ST. MODWEN AND VINCI JOINT VENTURE SUBMIT PLANNING APPLICATION FOR THE REGENERATION OF NEW COVENT GARDEN MARKET, NINE ELMS VINCI St. Modwen (VSM), the 50/50 joint venture between St. Modwen Properties PLC (LSE: SMP) and VINCI PLC, has submitted its planning application for the regeneration of the 57 acre New Covent Garden Market site in Nine Elms, London with its partner, Covent Garden Market Authority (CGMA). This landmark, multi-phased project is the largest proposed regeneration scheme in Nine Elms on the South Bank, one of London's key development areas for new mixed-use development. It will secure the future of New Covent Garden Market, the UK's largest fruit, vegetable and flower market, through the delivery of new 21st century facilities. The development releases 20 acres of surplus land which will be transformed into a high quality residential neighbourhood benefitting from fantastic riverside views and comprising approximately 3,000 new homes, 135,000 sq ft of new office space and 100,000 sq ft of retail, leisure and new community facilities, including shops, cafes and restaurants. The designs build on the planning permission already secured by CGMA in 2012. The proposals will provide over 500,000 sq ft of modern market facilities consolidated on one site for the 200 tenant businesses which employ over 2,500 people. This will sit alongside a new Food Quarter, part of the new market, known as The Garden at New Covent Garden Market. The entire scheme will be set alongside a new linear park for the area alongside the river and stretching from Vauxhall to Battersea Power Station via the new American and Netherlands Embassies. This major Opportunity Area will also benefit from the extension of the Northern Line and the opening of two new tube stations, meaning the majority of people living and working in the area will be within five minutes' walk of a tube station. Subject to receipt of planning permission, development work on the new market will commence in 2015.
skinny
28/3/2014
07:57
Orange juice.
redartbmud
28/3/2014
07:42
Just the one glass then.
broadwood
28/3/2014
07:40
Agreed. Onwards and upwards. Off to the AGM later.
redartbmud
Chat Pages: 27  26  25  24  23  22  21  20  19  18  17  16  Older
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