Inland Homes Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9658337
On the back of no bad news, this suggests to me a good buying opportunity is around the corner.

By imperator2008 ]]> http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion&id=9658337&action=detail Fri, 18 May 2012 12:55:00 GMT imperator2008 tag:iii.co.uk,2003:tst.9507269
Sometimes when something is so good you miss what is right in front of your face - £10,000 a plot WITH planning permission. Obviously plot size will not be great, but for residential land that looks an absolute steal.

Cheers

H_P By Harry_P ]]> http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion&id=9507269&action=detail Wed, 04 Apr 2012 12:22:00 GMT Harry_P tag:iii.co.uk,2003:tst.9505818 I couldn't believe that when I saw it, especially with pp already granted. Tom By Tom WM ]]> http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion&id=9505818&action=detail Wed, 04 Apr 2012 08:39:00 GMT Tom WM tag:iii.co.uk,2003:tst.9505607 ')" target="_blank" rel="nofollow">http://www.investegate.co.uk/Article.aspx?id=201204040700107580A

Good morning all,

Nice to get an update this morning on some previously mentioned projects (from the half yearly report) - such as West Drayton and Chelmsford South, but also news on a development in Grays.

Chelmsford - good to get a little bit more "meat on the bones". Effectively £80-£90k a plot for a site that will have the majority of plots being detached homes backing onto the golf course. This will be good margin business if Inland can weave their magic. Nice to also see quite an upbeat assessment of the planning progress for the northerly higher density section ("expect" approval within the next few months).

West Drayton - Great news that planning permission has been received and I have to say I do like the decision to just sell on the site to a housing association. This is what Inland were primarily focussed on - buy land, get permission, increase value, sell on.

Grays - Looks like this already has permission - a bit of a departure for Inland. £100k a plot, some to be sold straight on, some we develop.

**************************

We certainly seem to be building up a land-bank with a mix of developments now.

Cheers

H_P By Harry_P ]]> http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion&id=9505607&action=detail Wed, 04 Apr 2012 08:09:00 GMT Harry_P tag:iii.co.uk,2003:tst.9478565
I don't know what others think, but I thought that was a slightly strange set of interims.

I posted a few months ago that I thought the interims may not be great because the nursing home sale and the 88 apartments sale (2 major revenue drivers - £1.8mln & £5.75 mln respectively) didn't complete until just after the period end.

But in the chairman's statement he notes the revenue didn't include any land sales, although it appears as though there were home sales at Queensgate and Croxley Green.

So, mainly thanks to a "development services" fee from DGVL plus some profit from Howarth we maintain an uptrend in profitability, despite a sharp downturn in revenue.

It would seem though that with the Nursing home and the 88 plots at DGV already "banked", plus a further 28 with completion "expected shortly", plus sales at Queensgate and The Causeway we may see some good figures for the 2nd half.

As far as I can see this is the first time a "development services fee" has been specifically identified in the results. It may have been there previously but hidden within larger revenues (the last finals did talk about "project management fees")?

Good to see the land bank is up considerably; although they do include developments that don't yet include permissions (I assume West Drayton, Poole and Chelmsford have been the drivers here).

The one thing that took me back a little on the operational side was the news that the southern section of the Chelmsford site appears to have been purchased - no previous hint of that. For a higher amount and it looks like there will be fewer plots, so fairly safe to assume that will be for the "higher end" properties. £1.8 million due in 4 months and a further £5.2 mln in a year. Certainly that looks good news to me, I think that site has some real potential.

So news due within the next 3-9 months on Poole, Chelmsford, West Drayton and potentially the unnamed site in Buckinghamshire.

The only thing I noted was that I couldn't see anything on when the next deferred payment on DGV is due. In the finals it stated that £14mln remained outstanding (if Inland wanted to increase its profit share on the project - which it isn't obliged to do), of which £7mln was due after more than one year (therefore £7mln within a year of the last finals - so by my reckoning this should be due shortly....).

Interesting to see they "continue to develop our banking relationships and our current providers of finance include Barclays Bank and Close Brothers" - personally I'd like to see news of new facilities in place before a dividend is announced but by the looks of the report today that is potentially only 6 months away.

Cheers all

H_P
By Harry_P ]]> http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion&id=9478565&action=detail Mon, 26 Mar 2012 21:21:00 GMT Harry_P tag:iii.co.uk,2003:tst.9477872 Its the promise of a dividend that influenced my decision to buy some more. I hope that this decision will persuade other investors to start taking Inland seriously.

The gut also tells me that there should be a bit of steady movement during the summer months as the housing market sees more signs of optimism. Honestly, I see quite a lot of positives at the moment and we could follow the Americans down this line. We usually do, only 6-12 months later, and my colleagues in New Jersey now seem a little less suicidal than them have been

I have seen 3 major recoveries in the housing market. Each time, the supposed"experts, who are always good at predicting gloom and doom have failed to spot them, and they all seem a little nquiet bat present (apart from central London)

So, for what its worth, I consider that the point at the bottom of the graph has been reached and we are on the way up. Time will tell if I have got it right, but I have just sold my Pru shares at a healthy profit and gone intp Persimmon, TW and Inland.

I just hope we dont hear anything from those clowns at Capital Economics. They have never seemed to get the Housing Market right during any of the past 12 years! One "informed" press release from them could set the market back months!! By stitchup ]]> http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion&id=9477872&action=detail Mon, 26 Mar 2012 17:36:00 GMT stitchup tag:iii.co.uk,2003:tst.9476088
But I dont expect the SP to rise much until June, when people will start to get interested in the dividend. By Starkraving ]]> http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion&id=9476088&action=detail Mon, 26 Mar 2012 11:25:00 GMT Starkraving tag:iii.co.uk,2003:tst.9475971
Ayi

By ayiman ]]> http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion&id=9475971&action=detail Mon, 26 Mar 2012 11:02:00 GMT ayiman tag:iii.co.uk,2003:tst.9475139 Must be daft!!

Regards
Stitchup By stitchup ]]> http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion&id=9475139&action=detail Mon, 26 Mar 2012 08:39:00 GMT stitchup tag:iii.co.uk,2003:tst.9451169
By imperator2008 ]]> http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion&id=9451169&action=detail Mon, 19 Mar 2012 17:19:00 GMT imperator2008 tag:iii.co.uk,2003:tst.9416652
We cannot do anything about a stock that is unloved by the market, but I have been in this situation many a time. Experience has always told me to keep on buying when cash flow is good and the valuation gap between share price and NAV grows increasingly wider. Eventually, the market must and often does catch up - usually PI's are too impatiant/frustrated to still be around when it does.

Whilst INL is on AIM and is a tiddler, I do view it as a somewhat safe and stable harbour amongst some of my other more speculative holdings and can therefore sleep easy. Although INL is my second biggest holding (behind Sirius minerals - one that already has multi-bagged and will continue to multibag imo) I am not over leveraged or over exposed and can afford to wait for the reward.

All in all, whilst fundamentals continue to improve, I remain confident in INL's future which is why I made a further top up today to replace some stock I had sold to buy into another stock recently.

GLA,

Imp2008. By imperator2008 ]]> http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion&id=9416652&action=detail Mon, 12 Mar 2012 08:14:00 GMT imperator2008 tag:iii.co.uk,2003:tst.9406423
Shall we call it quits?
We are both in it for profit. For my part my frustration is the result of years
of hearing how well this is doing and how well that is doing, but fine words are one thing, the market reaction remains king, and the market remains unimpressed.
Lets hope SW and the Board have however got it right and whats more, lets hope that if they have got it right, some new predator doesn't sudddenly appear and snap up the Company just before we can share in the success.
Its happened before you know, the predator then was Inland !!

All the best

Stitchup By stitchup ]]> http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion&id=9406423&action=detail Thu, 08 Mar 2012 23:00:00 GMT stitchup tag:iii.co.uk,2003:tst.9403304
I don't have unwavering support of SW or the board in general. I have emailed the company on several occasions. I did actually question with them the Director sale at the time, and have also been unimpressed by their "PR", as mentioned on this board, and feel that we should get more regular updates on planning progresses, trading updates etc. (ideally, for my mind, 2 quarterly updates in between the interims and finals).

My "intimate" knowldge of his dealings are only brought about my research in the company - they are there in black and white in the company RNS's of the past few years (on this site if needed be).

I must say though, he may only be at break even on his shares, but that's down to his own share trading in the open market with his OWN money (not from "substantial director emoluments") - there was nothing stopping us buying at 6-14p ranges throughout 2008/09 and being 100/200% up on our investment. And having said that, he is far from break even anyway, bearing in mind the vast majority (c. 20 million) of his shares were from the IPO in 2007 at 50p!

I would agree with you though that the next 6-18 months are crucial going forward. Personally I won't measure the successes of the company with the SP - perhaps that sounds silly. All the company can do is improve it's fundamentals (NAV, Profit, Balance Sheet etc.). If the "market" then doesn't value that as we want it to then potentially that leads to a further buying opportunity as the "valuation gap" widens.

I'm really not fussed by the prospect of a divi, as stated I would much prefer company fundamentals improved and a greater chance of an SP/Mkt Cap re-rating, if a divi then comes then great. I think anyone looking for divi income should not be buying a low mkt cap, small AIM, illiquid company anyway - personally I'd head for the FTSE for that.

These sit happily in my SIPP with a 16p average and in my normal account with a 19p average, as part of a portfolio that perhaps offer some more volatile and "exciting" stocks - so hopefully a nice balance.

Cheers

H_P By Harry_P ]]> http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion&id=9403304&action=detail Thu, 08 Mar 2012 11:39:00 GMT Harry_P tag:iii.co.uk,2003:tst.9402291 I still followed the Company and when the price dropped to 7.35p in Oct 2008 I bought in again. I have topped up several times since then and have what is now my third biggest holding at an average price of 13.45p which is showing a gain of about 29%. I am quite happy with that and although a divi is not essential it will be welcome if it happens. What I think is more probable is that special dividends will be paid when large sites are sold.
I am not totally uncritical (I would like to see a better feedback from the Company - There is never any news on the Ashford site which has good prospects and Farnborough isn't progressing as well as I hoped) but by and large I think the Directors have handled the assets of the Company shrewdly and I can see some exciting developments on the horizon.
By Tom WM ]]> http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion&id=9402291&action=detail Thu, 08 Mar 2012 09:09:00 GMT Tom WM tag:iii.co.uk,2003:tst.9402184
Wow, I wish my practice had such a forceful PR person to support us. Your unwavering support for SW and the Board and your intimate knowledge of his dealings are impressive. You could almost be his Dad!!

Seriously though I do accept a lot of what you say, however SW has not lost lots of money in Inland as you intimate. Give or take the odd thousand he is virtually at break even on his Inland shares. He and his Directors are however being handsomely rewarded, and he must feel as though he is prospering if he is apparently buying a very expensive property for himself.

Good luck to him however. I am certainly not bitter. As I previously stated on this Board, many times, and in particular when Inland first started, I liked what I saw in SW's skills and vision. You may say that this Board is quiet. It certainly was not quiet in the early years, especially around the Pilkington Tiles/ Poole Investments period. Then we long sufferring shareholders experienced the problems of investing in AIM listed Companies, where regulatory clontrol was deliberately lax, and we were all well and truly shafted!
In Inland however many of us reinvested our takeover cash because we were impressed with the "new" approach and took the view that after years of bad management we now had a progressive well managed Company.
Unfortunately, this proved to be a bad decision. In my portfolo, Inland languishes as one of my worst performing shares, (after Desire and Falklands Oil and Gas- ouch!!)) As the market has moved ahead strongly, and divis have been improving, still nowt from Inland! but of course thatis the risk we all take when selecting our shares

Still the fact that I am still in says it all. I still have hopes that my initial view of this Company will be proved sound. If however in the nest 6 - 12 months, we still get nothing but fine press releases announcing yet more successes, substantial director's emoluments and a dead sp. we may find that biting the bullit and selling up is the only answer.

Still lets hope we do prosper and keep up the good PR work for SW!

Stitchup By stitchup ]]> http://www.iii.co.uk/investment/detail?code=cotn:INL.L&display=discussion&id=9402184&action=detail Thu, 08 Mar 2012 08:57:00 GMT stitchup