I reckon nothing for 2 months might be a good thing! In the past...

I reckon nothing for 2 months might be a good thing! In the past their announcements were usually related to further acquisitions of land. I think its best if they haven't actually been buying any more given gearing was 59% at 31/12/07. Annual results will be out shortly and I'm hoping they announce that they are reducing their target gearing range from the current 50-65% to say 30-45%. That wouldn't be too difficult as cashflows from land sales have been coming in and if directed to paying down debt rather than into further land project investments, gearing can come down quite quickly. The Babcock model was, until yesterday, to continually recycle capital into new assets as they turned over existing assets. The parent is going to go a lot slower on this to reduce its gearing, so quite possible BLP will as well, thereby preserving shareholders capital, which should see a big lift in BLP share price.

As for Rhys wondering how closely tied to BNB they are, my read is -
1. BNB are a substantial shareholder of BLP.
2. BNB earn management fees from BLP.
3. It appears BLP have not borrowed from, or lent to BNB.

Given the lack of info from the company recently, I will look very closely at their upcoming results, and compare it with the info provided on 13/2/08 in their half year results presentation. Based on the slides in that presentation, the only justification for the share price being where it is would be if they have had an absolutely shocking half year for land sales.