Tom Winnifrith Bearcast: Malcolm stop dithering and sell your Tertiary, it is a dog that treats shareholders with contempt
In the case of Inland Homes we have we have been treated to an extended rally since the summer of last year with the recovery of the 200 day moving average then at 45p.
Brownfield land developer and housebuilder Inland Homes (INL) is hoping to sign a new joint venture development deal with Southampton City Council and is also looking at two possible acquisitions after nearly quadrupling pre-tax profits to £34 million in the year to June on turnover doubled to £114.2 million, with stated net assets up 48% to 43.9p a share. Based in Amersham and quoted on AIM, the company, which buys brownfield sites in South East England to build homes with an average sale value of between £250,000 and £300,000, has included a £14.5 million revaluation surplus in its pre-tax figure. It says it is going to adopt the European Public Real Estate Association (EPRA) accounting system to show an asset figure reflecting current market prices rather than significantly lower historic costs.
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