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The secret builder etc! (SMP)     

JRM - 13 Jan 2012 12:43

I like these!

They hit the floor when relegated from the FTSE 250 but they are starting to make some very nice noises! - Debt refinanced, trading good etc.

Their resuts are only 3 weeks away perhaps things will get exciting

skinny - 07 Feb 2013 08:16 - 78 of 111

ANALYST AND INVESTOR SITE VISIT

St. Modwen Properties PLC (LSE: SMP), the UK's leading regeneration specialist, will today host a site visit for analysts and investors at New Covent Garden Market, London. Together with a tour of the area, the visit will include presentations on New Covent Garden Market, Swansea University and the Company's recently announced full year results to 30 November 2012. No new material information will be disclosed in the presentations.

The presentations will be available shortly on St. Modwen's website at: www.stmodwen.co.uk

skinny - 26 Feb 2013 07:11 - 79 of 111

Proposed Placing

St. Modwen announces today its intention to place up to 20,016,057 new ordinary shares of 10 pence each in the capital of the Company (the "Placing").

St. Modwen is the UK's leading regeneration specialist. The Group operates across many sectors of the property market, via a network of seven offices and a residential business and through joint venture or collaboration arrangements with public sector and industry-leading partners. The Group's £1.1bn property portfolio and its actively managed land bank of development opportunities comprising more than 5,800 developable acres are located in the UK. The Group is focused wholly upon regeneration and the long-term development of commercial and residential property, and has a 25 year track record of adding value by managing schemes through the planning process, remediating contaminated land and pursuing an active programme of asset management and development.

skinny - 26 Feb 2013 16:24 - 80 of 111

RESULTS OF PLACING

St. Modwen is pleased to announce the successful completion of the placing announced earlier today (the "Placing").

A total of 20,016,057 new ordinary shares of 10 pence each in St. Modwen (the "Placing Shares") have been placed by J.P. Morgan Securities plc (which conducts its UK investment banking business under the name J.P. Morgan Cazenove) ("JPMC") and Numis Securities Limited ("Numis") (together, the "Joint Bookrunners") at a price of 245 pence per Placing Share, with existing and new institutional investors, raising gross proceeds of approximately GBP49 million. The Placing Shares represent approximately 9.99% of the issued ordinary share capital of the Company prior to the Placing.

skinny - 11 Mar 2013 10:34 - 81 of 111

Numis Add 258.40 257.00 259.00 280.00 Downgrades

skinny - 09 Apr 2013 07:08 - 82 of 111

Interim management Statement

St. Modwen Properties PLC (LSE: SMP), the UK's leading regeneration specialist, is pleased to announce that the business has continued to perform well since the start of the financial year with profits and cash flows in line with our expectations.

We have completed two important milestones in the period; first, the share placing announced on 26th February 2013 which raised gross proceeds of £49m, which will allow us to exploit the potential of the development at the New Covent Garden Market site in Nine Elms, London without the need to increase the debt leverage on the Company's balance sheet, thereby enabling the Company to use its existing resources to deliver our other major pipeline projects. Secondly, our development agreement with Swansea University for the provision of the first phase of its £450m new Science and Innovation Campus has been signed and is now unconditional.

Residential Business
Our residential business is performing strongly with good ongoing demand for our land. We continue to secure predominantly residential-led planning consents across our land bank, whilst works are progressing well across all of our live residential sites.

Good sales rates are being achieved and future profit from residential development remains in line with the expectations set out as part of our 2012 results announcement. The Government's new equity loan scheme, 'Help to Buy', launched in the recent Budget, opens up the opportunity for a wider range of prospective purchasers to get onto the property ladder. At our residential sites across the UK we have already seen the advantages that such schemes can have and we will be introducing Help to Buy across our St. Modwen Homes sites which are priced under the £600,000 threshold.

Commercial Land and Development
As announced on 20th March, we have now signed the development agreement with Swansea University to deliver the first phase of its £450m new Science and Innovation Campus. At the same time, we completed the sale of income from the student accommodation to the M&G Secured Property Income Fund, advised by PRUPIM, for £32m. The completion of the two transactions means that our agreement with Swansea University is now unconditional and that the project is now fully funded. We plan to start on site with the development of this transformational project in May.

In addition to Swansea University, our ongoing projects for 2013 and beyond continue to progress well. In May 2013, we are due to complete the first phase of the £70m Town Centre at Longbridge which includes an 80,000 sq ft food store pre-sold to Sainsbury's, a 75 bedroom Premier Inn, Beefeater Grill, 24 shops, restaurants and circa 35,000 sq ft of offices. Of this total space, 75% is now either pre-sold, pre-let or under offer. In addition, it is expected that a planning application will be submitted towards the end of this year for the redevelopment of New Covent Garden Market, after which planning consent is anticipated in Winter 2014.

Resilient Rental Income
Our income producing portfolio remains resilient, and our experience and expertise in both retail and commercial lettings for secondary and tertiary accommodation is allowing us to maintain our income streams.

Financing
Further to our retail bond issue in October 2012, we continue to diversify our sources of funding. This and the success of the recent share placing demonstrate the confidence from both existing and new investors in our ability to create long-term value from our regeneration and development activities.

Our cash flows and debt levels remain in line with our expectations and we have a sound financial base with significant headroom on existing banking facilities extending to at least November 2014.

skinny - 13 May 2013 15:08 - 83 of 111

Numis Add 308.50 280.00 - Retains

skinny - 03 Jun 2013 07:13 - 84 of 111

Trading Statement

ST. MODWEN SEES CONTINUING STRONG PERFORMANCE ACROSS THE BUSINESS

St. Modwen Properties PLC (LSE: SMP), the UK's leading regeneration specialist, today provides a trading update for the six months to 31 May 2013. The Company can confirm that the business has continued to perform strongly since the interim management statement issued on 9 April 2013, with profits and cashflows remaining consistent with management expectations.

Notwithstanding a challenging marketplace, initial indications point to positive market valuations for the first half of the year compared with H1 2012. We also expect our ongoing asset management and added value actions to be reflected well in the half year valuations.

Management outlook for our profit before all tax is therefore expected to be in line with H1 2012.

skinny - 14 Jun 2013 09:59 - 85 of 111

Looking quite good this morning.

SMP18month_zps181449e9.gif

skinny - 02 Jul 2013 07:03 - 86 of 111

Half Yearly Report

Financial Highlights
- 11% increase in profit before all tax to £38.8m (H1 2012: £34.9m)
- 5% increase in shareholders' equity NAV per share in the first six months to 263p (Nov 2012: 251p per share) and EPRA NAV up 4% to 282p per share (Nov 2012: 272p)
- Net valuation gain of £23m (H1 2012: £21m) including added value gains of £18m (H1 2012: £35m) and market driven valuation gains of £5m (H1 2012: £14m loss)
- Realised property profits of £16.1m (H1 2012: £16.6m)
- Net rental income of £18.2m (H1 2012: £18.3m)
- Successful equity placing in March 2013 raising gross proceeds of £49m
- Continued reduction in gearing to 55% (Nov 2012: 71%. Comparative adjusted for equity placing would be 57%)
- 10% increase in interim dividend to 1.33p per share (H1 2012: 1.21p)

Operational Highlights:
- Active development programme for 2013; construction of Swansea University's Science and Innovation Campus started in May
- Continue to work towards the submission of a planning application by the end of 2013 for the New Covent Garden Market redevelopment, with good progress achieved to date
- Indications of increased investment interest in secondary commercial property with the successful sale of £35m of mature commercial assets at or above book value during the first six months of the year
- Positive outlook for residential land activity, with good reservation rates already achieved and strong on-going demand at an increased number of sales outlets, an expanding pipeline of developments and greater demand for our land
- Proactive asset management continues to generate value

skinny - 03 Jul 2013 11:47 - 87 of 111

JP Morgan Cazenove Overweight 280.55 325.00 - Reiterates

skinny - 25 Jul 2013 12:43 - 88 of 111

Update on post 85.

SMP18month_zps7283f11b.gif

skinny - 01 Oct 2013 07:13 - 89 of 111

Interim Management Statement

St. Modwen Properties PLC (LSE: SMP), the UK's leading regeneration specialist, today provides the following Interim Management Statement for the period since 1st June 2013. The Company has continued to perform strongly since the half year results announcement issued on 2nd July 2013 against the backdrop of an ongoing strengthening of the housing market and a greater sense of optimism in the regional commercial property sector.

Whilst recovery in some areas of the market remains slower, improving consumer sentiment, supportive Government schemes and an increasingly stable economy are contributing to a notably more positive market outlook than we have seen for some time. This, combined with the success of our ongoing asset management activities, points to profits and cashflows remaining consistent with management expectations for the 2013 financial year.

Residential
Demand for our residential land continues to grow with active land transactions indicating some upside against our book valuations.

We are achieving steady sales rates across our St. Modwen Homes sites and those developed in our joint venture with Persimmon. Overall profits from residential development remain in line with expectations set out at the half year.

Commercial Land and Development
We have an active development pipeline and continue to make good progress across our flagship schemes in each region. A clear example of this is the £150m regeneration of Great Homer Street in Liverpool where we are due to start on site in Spring 2014.

For this quarter, the key highlight amongst our four major projects is Longbridge, where the first phase of the Town Centre is now open for trading. We expect to submit an application for phase two shortly.

Income Producing Portfolio
Our income producing portfolio is performing well as a result of both improving sentiment in the commercial property market and our ongoing ability to extract maximum value from our assets.

There is good momentum in lettings and asset management and we have continued to manage space effectively with voids largely unchanged.

Finance
None of St. Modwen's existing corporate or joint venture debt facilities require renewal before November 2014. Our cash flows and debt levels remain in line with our expectations and we continue to monitor these closely.

Bill Oliver, Chief Executive of St. Modwen, commented:
"Confidence in the residential market continues to grow across the UK and we are also seeing more optimism in the regional secondary commercial market which we hope will result in increasing levels of activity. Against this background, our ability to add value across our portfolio through effective asset management and planning expertise is resulting in an increasingly active, well-let development pipeline. This, coupled with our strong balance sheet, means we anticipate delivering continued growth for our shareholders."

-ENDS-

skinny - 21 Oct 2013 16:08 - 90 of 111

Still looking strong.

Chart.aspx?Provider=EODIntra&Code=SMP&Si

skinny - 02 Dec 2013 07:35 - 91 of 111

Disposal

ST. MODWEN JOINT VENTURE SELLS
ELEPHANT & CASTLE Shopping centre FOR £80M TO DELANCEY AND APG


Key Property Investments ("KPI"), a 50/50 joint venture between St. Modwen (LSE:SMP), the UK's leading regeneration specialist, and Salhia Real Estate Company K.S.C ("Salhia"), today announces that it has completed the sale of the Elephant & Castle Shopping Centre to Delancey and APG for £80m in cash.

The sale price reflects a yield of 4.25% and is significantly above the asset's current book value.

skinny - 04 Feb 2014 07:03 - 93 of 111

Final results

ST. MODWEN REPORTS STRONG GROWTH DELIVERING £82.2M PROFIT BEFORE ALL TAX AND NET ASSET VALUE INCREASES OF 11%

Financial Highlights
· 56% increase in profit before all tax to £82.2m (2012: £52.8m)
· Shareholders' NAV up 11% to 279p per share (2012: 251p per share), and EPRA NAV up 10% to 298p per share (2012: 272p per share)
· Realised property profits up 37% to £40m (2012: £29m)
· Successful completion of a £49m equity placing to support redevelopment of New Covent Garden Market
· 20% decrease in loan-to-value to 33% (2012: 41%)
· Final dividend for the year increased by 10% to 2.67p per share, providing a total dividend for 2013 of 4.00p per share (2012: 3.63p)

Operational Highlights
· Overall net valuation increase of £42m (Nov 2012: £28m), comprising gains of £28m (2012: £48m) as a result of planning gain asset management and £14m market driven valuation gain (2012: £20m loss)
· Elephant & Castle Shopping Centre sold for £80m
· Significant milestones completed across all major projects:
o Longbridge - 150,000 sq ft pre-let secured to Marks & Spencer which will anchor the second phase of the new Town Centre
o Swansea University, Bay Campus - first phase of works on schedule with student accommodation now underway
o On track to deliver New Covent Garden Market - planning approval anticipated in 2015

skinny - 04 Feb 2014 11:04 - 94 of 111

Liberum Capital Buy 386.55 384.40 406.00 406.00 Reiterates

skinny - 28 Mar 2014 07:05 - 95 of 111

Interim Management Statement

INTERIM MANAGEMENT STATEMENT FOR THE PERIOD TO 28th MARCH 2014

STRONG START TO THE YEAR WITH FURTHER MOMENTUM IN THE COMMERCIAL AND RESIDENTIAL MARKETPLACE

St. Modwen Properties PLC (LSE: SMP), the UK's leading regeneration specialist, is pleased to announce that the business has continued its strong performance since the start of the financial year, with a growing pipeline of development opportunities, and profits and cashflows in line with our expectations.

We have continued to secure a steady stream of sales across all of the St. Modwen Homes and the Persimmon joint venture sites, particularly as we head into the Spring selling season. Together, we have completed on the sale of 180 units in the financial year to date which compares to 35 units during the same period last year. Coupled with the schemes' location and the quality of product, this reflects a sustained increase in consumer confidence and the continued success of the Government's Help to Buy scheme for which we welcome the recent announcement to extend the initiative until 2020.

The market for our residential land also remains buoyant, with strong demand from housebuilders looking to increase their sales outlets.

As indicated in our results for the year ended 30th November 2013, we are also seeing ongoing improvement in the commercial market, and our major projects continue to gather momentum, with an increase in enquiries across our sites and occupancy levels remaining high. We are experiencing sustained growth in London, the South West and in the Midlands and expect this to continue throughout the year.

In February we successfully launched an offering of £100m of unsecured Guaranteed Convertible Bonds due 2019. The offering increases the longevity of the Company's debt on attractive terms, strengthens the balance sheet and supports our wider financial strategy to diversify the Company's sources of funding. The proceeds of the bond have been used to repay existing debt, enabling us to drive the Company's ongoing business growth, including its increasingly active development and housebuilding pipeline.

Bill Oliver, Chief Executive, St. Modwen, commented:

"Following a strong set of full year results, we are already enjoying a good start to the year. This has been further supported by our successful convertible bond offering, which demonstrates a growing confidence amongst our existing and new investors.

"As the year progresses, we expect the ongoing improvement in the residential and commercial markets to continue. And, having further strengthened our balance sheet, we are very well placed to drive further growth of the business, using our considerable in-house expertise to bring forward high-quality development land, both for sale and for development ourselves.

"We remain firmly focused on generating value for our shareholders through our multi-faceted regeneration activities and active approach to asset management."

-ENDS-

skinny - 16 May 2014 11:16 - 96 of 111

ST. MODWEN AND VINCI JOINT VENTURE SUBMIT PLANNING APPLICATION FOR THE REGENERATION OF NEW COVENT GARDEN MARKET, NINE ELMS

VINCI St. Modwen (VSM), the 50/50 joint venture between St. Modwen Properties PLC (LSE: SMP) and VINCI PLC, has submitted its planning application for the regeneration of the 57 acre New Covent Garden Market site in Nine Elms, London with its partner, Covent Garden Market Authority (CGMA).

This landmark, multi-phased project is the largest proposed regeneration scheme in Nine Elms on the South Bank, one of London's key development areas for new mixed-use development. It will secure the future of New Covent Garden Market, the UK's largest fruit, vegetable and flower market, through the delivery of new 21st century facilities.

The development releases 20 acres of surplus land which will be transformed into a high quality residential neighbourhood benefitting from fantastic riverside views and comprising approximately 3,000 new homes, 135,000 sq ft of new office space and 100,000 sq ft of retail, leisure and new community facilities, including shops, cafes and restaurants.

The designs build on the planning permission already secured by CGMA in 2012. The proposals will provide over 500,000 sq ft of modern market facilities consolidated on one site for the 200 tenant businesses which employ over 2,500 people. This will sit alongside a new Food Quarter, part of the new market, known as The Garden at New Covent Garden Market.

The entire scheme will be set alongside a new linear park for the area alongside the river and stretching from Vauxhall to Battersea Power Station via the new American and Netherlands Embassies. This major Opportunity Area will also benefit from the extension of the Northern Line and the opening of two new tube stations, meaning the majority of people living and working in the area will be within five minutes' walk of a tube station.

Subject to receipt of planning permission, development work on the new market will commence in 2015.

skinny - 16 May 2014 11:21 - 97 of 111

photo SMP3year_zpsecdd2c6c.gif
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