Shares digital

Inland (INL:AIM) – Interims PTP: -£1.2m (£1m) Divi: n/a (n/a)

It has been almost a year since Inland joined the junior market, and although the shares have put in a lacklustre performance, the company has been working hard to boost its land bank. Inland’s development pipeline now consists of more than 1,470 plots with a gross development value of around £361 million.

Despite the continued challenges surrounding planning permission, over the past six months, Inland has successfully gained planning consent at its major site in Farnborough for 399 residential units and around 100,000 sq ft of commercial space. The group is now in the process of trying to obtain further permission for 42 residential units. In addition, the company has received planning permission for two smaller schemes in Hertfordshire. Since the period end, the company has completed its acquisition of the remaining 10% in Poole Investments and has acquired a further 5% stake in Howarth Homes.

Regarding the slow down in the property market, finance director, Nishith Malde, believes it will present some good buying opportunities, with the group already seeing opportunities brought back to it where higher bidders have not been able to complete their transactions.

Malde is confident that the group will move back into the black by the year end and will consider selling smaller sites which will help lower overhead costs and boost profitability. Armed with a strong balance sheet and an experienced management team, Inland is in a good position to take advantage of the increasing demand for land with planning permission already in place. The shares slipped 6% to 31p.

Shares says: A promising pipeline with good prospects.

by: Rachel Robson