Inland confident about 2010!
(Thomson Reuters ONE) -
Come see us at Master Investor 2010 -Stand 105
Inland, which specialises in buying brownfield sites and enhances their value by
obtaining planning permission, is attending the Master Investor event on
Saturday 24(th) April and would be delighted to meet with existing and potential
investors.
Inland will join more than 100 quoted companies at the event, which attracts
over 2,000 high net worth private investors and industry professionals to the
Business Design Centre in Islington.
2010 is developing into an excellent year for Inland as both the land and
construction markets in the UK show signs of genuine improvement. Inland now
controls a land portfolio of 1,980 plots of which 628 are now consented. Since
July 2009, the Company has secured planning consent for 23 residential plots
with further progress expected during 2010.
Key highlights of Inland interim results issued on 18 March 2010 include:
+-------------------------------------+----------------------------------------+
|Financial: |Operational |
| | |
| * Turnover £5.29m (2008: £0.35m) | * Sale of 40 plots during the period |
| | (further 105 plots since 31 Dec. |
| * Operating profit £0.39m (2008: | 2009) |
| loss of £4.24m) | |
| | * Planning application at RAF West |
| * Pre tax profit £0.11m (2008: loss| Drayton was submitted for 775 homes |
| of £4.95m) | and 55,000 sq ft for employment and |
| | community use |
| * Net borrowings £8.79m (2008: | |
| £6.79m) and bank facility renewed| * Inland's housebuilding activities |
| | now producing sales |
| * Stocks and investment property | |
| £50.73m (2008: £54.26m) | |
+-------------------------------------+----------------------------------------+
Stephen Wicks, Chief Executive of Inland commented:
"2010 is proving to be something of a watershed within our sector. We have seen
clear signs that demand for land is increasing as housebuilders start to
replenish their land banks. Our prime sites in the south east are proving
attractive to these buyers.
Our ability to progress a number of exciting land opportunities whilst also
disposing of a number of our smaller plots is testament to the drive and
dedication of the team here at Inland. We look forward to the next six months
with renewed optimism."
The organisers of Master Investor have held back a small number of complimentary
tickets for company shareholders or other interested parties. To apply for
tickets please email michael.anderson(at)t1ps.com
Key development opportunities include:
Queensgate, Farnborough, Hampshire (see pictures in attachement)
* 24.5 acre former RAF base acquired from MOD for £21.5m of which £9m remains
outstanding
* Planning permission granted for 399 homes, 80 bed nursing home and 56,000
sq. ft. of commercial space. 43 further plots to be promoted via the
planning process
* Inland commenced development of 37 units of which 3 reserved
* GDV expected to be £58m
* 57 plots sold to a national housebuilder generating free cashflow of £3.3m
* Main spine road to be completed in May 2010
Drayton Garden Village (formerly RAF West Drayton)
* 31 acre redundant brownfield site with adopted planning brief for a
residentially led mixed use regeneration
* Planning application submitted for 775 homes and 55,000 sq ft of employment
and community uses including a new medical centre and 80 bed care home
* Planning permission envisaged shortly with first phase comprising of 59
units of affordable housing to commence during 2010
* Site held by joint venture partner with deferred consideration of £23.75m to
be paid over next 3 years
* GDV expected to be £185m
Investor relations contacts:
Inland plc
Stephen Wicks, Chief Executive
Nish Malde, Finance Director
Tel: 01494 762450
[HUG#1407386]
Presse Release (PDF): http://hugin.info/143162/R/1407386/360666.pdf
Datum: 23.04.2010 - 18:08 Uhr
Sprache: Deutsch
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"Inland confident about 2010!"
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