U And I Share Discussion Threads

[skyship] 18/3/2016 09:59

MRF - possibly well-timed; though we did see another algo driven sell-off yesterday afternoon. Then in the closing auction some chunky trades; and today up 8p @ 192p as I type. Could BR finally be out!?

[my retirement fund] 17/3/2016 14:16

dipped a toe in

[my retirement fund] 17/3/2016 13:35

Are aberdeen fund trying to off load their 17% holding ?

[leedsu36] 16/3/2016 15:31

They desperately try to prop up sp,but only help the big three sell thousands,and millions still to flood market.

The Gambler.

[spooky] 15/3/2016 19:43

May need to change his name from contrarian to consensus.

[orinocor] 15/3/2016 18:42

I luv it. This has fallen from 285p to 185p in 6 months and someone finally comes up with reasons not to buy it. Where were you 6 months ago?

[contrarian joe] 15/3/2016 15:32

A big concern to me is the £75m of short term debt which has to be paid (2016),also rising debt levels at this juncture of the cycle , poor cash flow now & likely to deteriorate,possibility of a rights issue,plus Euro debt exposure,PRS issue,there are positives,for me to many unknowns at the moment.

[speedsgh] 15/3/2016 10:52

Bearing in mind that it is the development/trading gains that will fund ongoing enhanced shareholder distributions (mainly via special dividend)...

From 2015 prelims (29/4/15) -

"This has been a record year for the Company, delivering the highest level of underlying profitability to date. This was largely driven by a step change in the level of development and trading gains realised, leading to a material increase in shareholder distributions. We are confident of sustaining and building on this performance in the years ahead..."

"The main contributor to our overall profitability was the £45.7 million of development and trading gains realised from a number of asset disposals during the year (2014: £27.0 million), another record-level result for the business."

"During the financial year, we realised development and trading gains of £45.7 million, a record-level for your Company and the first of what we believe will be many years of heightened profitability..."

2015 development/trading gains comprised:
H1 2015 - £18.2m
H2 2015 - £27.5m
TOTAL 2015 - £45.7m

From 2016 interims (21/10/15) -

"41 per cent of target full year development and trading gains delivered to date - £12.5 million of development and trading gains secured in the half year with a further £10.0 million secured since the period end."

"Good visibility on H2 gains underpins Company's expectation to meet its previous full year guidance of £54.7 million of development and trading gains."

"This has been another busy period in which we have maintained our focus on achieving another very strong year of development and trading gains which we are on track to deliver."

Since the interims UAI have confirmed the following development/trading gains:
Abbey Wood £2.5m -
Watford & Braehead £2.7m -
Waterloo £4.0m -
In the Waterloo rns they state that "the announcement today takes the total development and trading profits announced in this financial year to just over £30 million marking further progress towards achieving the Company's anticipated full year gains."

Since then we have also had:
Charlemont Clinic, Dublin £2.3m -
399 Edgware Rd (Phase 1) PROFIT UNDISCLOSED -
Deptford Project £4.0m -

So that is a total of £15.5m + the undisclosed gains from 399 Edgware Rd (Phase 1) to add to the £22.5m disclosed in the Interim Results making a total of £38m + the undisclosed gains from 399 Edgware Rd (Phase 1).

The level of any 2016 special dividend will therefore depend on whether they can match last year's gains (£45.7m) + meet this year's guidance (£54.7m). Are we aware of any other major gains that are due to drop imminently that could still fall within FY2016 results? 399 Edgware Rd + the Deptford Project were the 2 main projects mentioned in the Interims that they appeared to anticipate driving gains in the short term.

Going on the above figures + the fact that in recent announcements they have merely stated that the profits will contribute towards 2016 gains (and dropped any mention of meeting 'anticipated' gains), I am no longer expecting them to meet original guidance of £54.7m. I will be happy for them to prove me wrong :o)

Does anyone know the likely level of profit from 399 Edgware Rd (Phase 1)?

Of course NAV will probably be the main driver for the share price + as it is it stands at a significant discount to both historical + forecast NAV. However, the level of discount assigned to the share price will presumably be partially affected by their success in meeting guidance that they have previously given to the market.

[leedsu36] 15/3/2016 09:57

Ongoing firesale?

[speedsgh] 15/3/2016 09:56

Deptford completion realises profits of GBP4.0m -

U+I today announces that The Deptford Project, has reached practical completion, realising £4.0 million of profit in line with expectations.

The completion of this Public Private Partnership project has transformed a formerly vacant 2-acre site adjacent to Deptford train station into a new mixed-use community delivering 132 homes, 11,000 sq. ft. of commercial and retail space and new public realm that has provided a catalyst for the growth of Deptford High Street.

121 of the residential units were pre-sold to IP Global ahead of construction commencing, 8 affordable units were sold to Peabody to manage and the remaining 3 units have been sold to private individuals. As part of its evolved investment strategy, U+I has retained the ground floor commercial and retail element of the development which has significant potential for value growth, within its investment portfolio. 70% of this space is now exchanged or under offer ahead of the new market and retail units opening this Summer.

Richard Upton, Deputy Chief Executive, U+I said: "The Deptford Project is a perfect example of U+I's approach to regeneration. In a Public Private Partnership with Lewisham Council, a forward-thinking London Borough, we are delighted to have created an exceptional piece of regeneration that has delivered a vital boost to Deptford high street and has contributed to our FY 2016 development and trading gains. We look forward to now adding further value to the Deptford Project as we manage the retail space within our investment portfolio as part of the evolved investment strategy that we outlined at our half year results."

[leedsu36] 14/3/2016 19:46

Desperate attempt to prop up share price

[spittingbarrel] 14/3/2016 17:29

I can only assume the seller is having a long weekend, I'm sure he'll be back tomorrow :)

[skyship] 14/3/2016 17:07

First day for ages we weren't hit by late afternoon algo sales...so actually finished in the BLUE!

[speedsgh] 14/3/2016 16:42

First phase of 399 Edgware Road reaches practical completion -

U and I Group PLC (U+I) has reached practical completion of the first phase of its significant mixed-use regeneration project, 399 Edgware Road. The profit realised from the completion of the first phase of the development will contribute towards the Company's development and trading gains for the year ended 29th February 2016.

The first phase of this £150 million project is anchored by an 80,000 sq. ft. foodstore which was pre-let to Morrisons and forward-funded by clients of Aberdeen Asset Management. The remainder of phase one comprises 50,000 sq. ft. of retail and restaurant space and extensive new public realm which are transforming this formerly derelict 7-acre site into a vibrant new place.

U+I has exchanged contracts to sell the retail and restaurant space to two operators, Loon Fung and Royal China Group who will deliver a dynamic new retail concept centred around Oriental and Far Eastern retailers, creating a diverse offer within this popular new mixed-use community.

The second phase of 399 Edgware Road will deliver over 180 new mid-market homes in partnership with L&Q, alongside space for Brent Council to build a new primary school and nursery. Construction is due to start within the next month and complete in Q3 2018.

Matthew Weiner, CEO of U+I said: "Today's announcement regarding one of our larger regeneration projects perfectly demonstrates our approach to mixed-use development. We have delivered significant value by transforming an overlooked but well-connected site in suburban London into a vibrant new community. The development of phase one of 399 Edgware Road has delivered a new retail destination for the local area and the second phase will add much needed homes and educational facilities, creating over 700 new jobs for Brent."

[leedsu36] 12/3/2016 12:28

You have a good level head elm,their property portfolio is gonna bang crash so hard folks feet won't touch the floor here,the insti's are always ahead of the game,i feel 3 huge ones are running,my calls have been spot on for the last 6 months here and this will test £1.50 before long.

If a certain somebody had waited 2 weeks instead of one,not only would he have got the £1.90 I predicted but £1.80

The Gambler.

;@)

[elmfield] 11/3/2016 22:32

Good to hear I am not alone!

[badtime] 11/3/2016 21:05

Elmfield ...not I....just yet

[tiltonboy] 11/3/2016 19:42

badtime...lol...only started with an Ayrton!

[elmfield] 11/3/2016 19:38

I am of course put off with any property at the moment,
Just feel a bubble needs bursting.
When it does the good will go out with the bad.

[elmfield] 11/3/2016 19:35

So that leaves me alone not buying,
Something tells me to wait, probably wrong.

[badtime] 11/3/2016 18:31

I can see a trade for 60 at that price :)

[tiltonboy] 11/3/2016 17:44

Picked a few up at 183.75

[spooky] 11/3/2016 16:41

I picked some up just ahead of the close; it's an opening position that i will look to add to next week.