Fairpoint Group FRP.L
Fairpoint Group is trading above the moving 50 day average and above the moving 200 day average on below-average volume.
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Fairpoint Group discussion on ADVFN
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Topped up by methilman
Mon, 25 May 2015 20:55:00 GMT
I have held a small wodge of FRP for a number of years and have at last succumbed to Simon Thompson's (of IC fame) repeated plugs and upped my stake.
As has previously been mentioned, the dividend is an attraction and recent diversification should continue to enhance earnings, pay the new/increased interest charges and keep the dividend ticking over.
At least that's my possibly simplistic take on things...
Mm. By methilman
Comment from "Equity Development" by janebolacha
Thu, 21 May 2015 12:52:00 GMT
13th May 2015
AGM statement reports a material increase in revenue despite a far
expected fall in the number of new IVA cases in England & Wales Q1 to 9,723
fall from Q1 2014 and the lowest quarterly total since 2008. The growth is primarily due t
the new Legal Services division, centred on Simpson Millar LLP and the group is looking to
make some add
on acquisitions to further expand this division. Reassuringly Fairpoint states
that trading is in line with the Boards expectation.
As we pointed
out in our 17 March post
results note on the company, Fairpoints prospective P/E of 6.9X, and prospective yield, of
both look extremely conservative.
The announcement that Gateley, a Birmingham law firm a bit less than three times as big as
Millar, is planning to float on AIM was accompanied by press speculation that it
would be valued at £140m from which one might infer that Simpson Millar is worth more
than Fairpoint groups marke
Good news. by Alligator77
Fri, 01 May 2015 19:42:00 GMT
"This reflects a strong contribution from the Group's new consumer legal services business, which was not part of Fairpoint in the first quarter last year."
Well thats jolly good - as the company transforms the price will move up. By Alligator77
Re: Results tomorrow by pharmaspecialist
Tue, 17 Mar 2015 11:20:00 GMT
It looks as though your forecast of 15p adjusted earnings per share was comfortably exceeded and I think the market has reacted as you might expect. Whilst there are alot of asterisks in the results figures, it appears that the company is still doing OK on a cash basis. I am also heartened to see that the company is putting its money where its mouth is and continuing to increase the dividend, despite the already generous yield. Integrating acquisitions still offers the opportunity for suprises (in both directions) but my impression is that Chris Moat has the necessary skills to deal with the major challenges that these must create. For what it's worth I recently used the services of one of Simpson Millar's legal businesses services in the field of education/social care and I was impressed by the quality of service. We achieved a positive result, and despite the cost of £200 +VAT per hour it was worth using their services. By pharmaspecialist
Results tomorrow by pmrleahy
Mon, 16 Mar 2015 19:47:00 GMT
I'm looking forward to results tomorrow. I am expecting (based on public and broker info) adjusted EPS of around 15p a share which would put the current share price well below a P/E of 10 on a decent yield.
Also encouraging for the business to see travel claims at Simpson Millar have grown by 250% during 2014:
If results are good tomorrow my target price is 165p in short term. By pmrleahy
"Double digit growth" by pmrleahy
Tue, 20 Jan 2015 07:58:00 GMT
Good RNS out this morning showing that the company is going to benefit a lot from Simpson Millar LLP. The RNS also talked about "double digit growth in both revenues and profitability" (I am assuming this means double digits in the millions not pounds!). This implies profits will be up from 2013 when the EPS was 15p. So we can expect an EPS higher than this meaning the company is on a P/E of well below 10 and on a decent yield. Net debt isn't great but that should reduce as profits improve. It's also encouraging that Simpson Millar is accounting for over 40% of revenues.
I am not sure why they have said the results are 'in line with market expectations' when the share price suggests results should be above market expectations if the RNS is anything to go by. By pmrleahy
Why the fall this morning? by pmrleahy
Thu, 11 Sep 2014 07:25:00 GMT
This share is on my watch list; I am not a shareholder at present. However, based on my quick skim, I thought the interims looked alright this morning. I wasn't expecting profitability to be so good and there was only a minor drop in revenue.
So why the SP fall? Was the market expecting better results? Net debt isn't great but is there anything I am missing? By pmrleahy
Re: Fair entry point? by Richygm
Fri, 29 Aug 2014 13:24:00 GMT
I've just read ST's article and put these on my watch list. I see they were over £5 in 2006/7? By Richygm
Fair entry point? by paddington_bear
Sat, 23 Aug 2014 12:57:00 GMT
In some respects this is a version for people of Begbies Traynor. Here however it seems a bridging exercise is underway, doubling the DM plans to 30,000 in a year as the IVA risks run down. Adding legal services (guaranteed to slow cash flows) is a further diversification and the trick will be whether this combination will work until interest rates rise and (for this share at least) the good times roll again.
To achieve this the company has itself gone into debt, so the September update needs to be checked to ensure profits and cash still acceptable as the transition picks up speed.
A modest participation to start for me, made more comfortable by the dividend. I think the share price may respond favourably as BoE rate talk changes to action - last month first 2 members of the 9 voted for a quarter point rise.
PB By paddington_bear
RNS by Gwynfryn1
Mon, 09 Jun 2014 08:04:00 GMT
The market clearly was expecting better than this:
"Overall Group trading is modestly ahead of the same period last year during the historically quieter first four months of the year.
Good progress has been made on the diversification agenda with the full integration of two Debt Management books acquired at the start of 2014. These acquisitions have resulted in a very significant increase in DMP activity compared to the previous period. As expected, market conditions in the Group`s core debt solutions market remain challenging and the Group continues to avoid exposure to activity it considers uneconomic." By Gwynfryn1
Re: Close to peak? by pharmaspecialist
Fri, 11 Apr 2014 11:40:00 GMT
I originally bought into Farpoint because of its association with Hanover Investors who put a new management team in place in 2008 (including I believe the current CEO). Hanover has a good record and all the investments I made because of their involvement have worked out well. Hanover are long since gone from Fairpoint and I beleieve they sold their last shares almost exactly a year ago so perhaps that would be one reason to sell, although the CEO, Chris Moat, they put in place seems to have done a good job. This acquisition of Simpson Millar seems to be an aggressive move to expand as, despite the PR, there would not appear to be a great deal in comon between the two businesses. There is an article about the acquisition at www.legalfutures.co.uk I have been a client of Simpson-Millar for a couple of years as they are handling a continuing care claim for me on behalf a relation who went into a nursing home. They were one of the few solicitors who agreed to do this on a no win, no fee basis and I am happy with the service they have provided - I expect the slowness in settlement is due to the NHS rather than them. I would say I am mildly positive about the acquisition of Simpson-Millar and I believe the Investors Chronicle has given it the thumbs up so I will be keeping my Fairpoint shares but I would ask Chris Moat to please allow time to prove that this acquisition is successful before embarking on any more! By pharmaspecialist
Re: Close to peak? by chinanigel
Fri, 11 Apr 2014 01:41:00 GMT
I have held since 2012, it still looks cheap to me.
PE, div yield, cash flow and cash all look very good value.
Also interest rates will be rising at some time which could be another catalyst for this one.
190p wouldn't be expensive either but I might be tempted to sell then! By chinanigel
Re: Close to peak? by Gwynfryn1
Thu, 10 Apr 2014 14:24:00 GMT
Well, today's article by Simon Thompson in the IC may have answered my question. ST is impressed with the acquisition of Simpson Millar LLP, and expects an earnings upgrade. ST rates FRP a buy and puts his estimate of fair value of the shares at 190p from the current 165-170p. That's good enough for me. I am staying put. By Gwynfryn1
Close to peak? by Gwynfryn1
Sun, 06 Apr 2014 10:39:00 GMT
I have held FRP for 9 months now as a short term investment and have seen 21% upside since. I am beginning to wonder if there is any mileage left here, or whether I should take profits. Any thoughts anyone? By Gwynfryn1
Re: Views on results? by Fiendish Board Games
Mon, 17 Mar 2014 12:28:00 GMT
Tipped in the Chronic Investor today. They seemed to have the same view that an increase in interest rates is on its way sooner than we think. By Fiendish Board Games
Trotting up very nicely... by BlueDealer
Tue, 19 May 2015 10:40:06 GMT
..ahead of the Final Ex-Dividend date, this Thursday... 4.1p for 3% GLA & Best Regards, Blue
RE: blue by BlueDealer
Mon, 23 Mar 2015 12:06:28 GMT
Hi shan, Yup, ticking up nicely :-) Bad luck with the match yesterday...it's about time they stamped that sort of thing out! LoL ;-)
frp by Troajan
Sun, 22 Mar 2015 08:33:26 GMT
blue by shan
Sun, 22 Mar 2015 07:40:34 GMT
Recd over weekend by midas share tips Should see more rise hopefully mate!
9 times the average volume today... by BlueDealer
Fri, 20 Mar 2015 00:38:19 GMT
Over 550,000 trades.... The vast majority = 2 x 250,000 at 124.5p... Difficult to say if buys or sells... ....I'm guessing sells, as the price slumped a tad at the same time... But can't be sure, to be sure ;-)
RE: Final Results... by bankster
Tue, 17 Mar 2015 08:13:02 GMT
Thanks BlueDealer. We are off to a good start with today's results and likely upgrade to forecasts to come & new commentary by ST to give a lift to the share price.
RE: Final Results... by BlueDealer
Mon, 16 Mar 2015 12:10:31 GMT
Well played on getting in last month, bankster :-) I've had a limit order (at 110p) sitting on FRP for the last couple of weeks but she never got below 114p (to buy)... The results should be good tomorrow, if I read the previous trading statement correctly ( & the final dividend is attractive if in the 4p region...annualized at 5.3% + )... So we could well see your 130p target hit tomorrow.... GL & Best regards, Blue
RE: Final Results... by bankster
Fri, 13 Mar 2015 17:39:29 GMT
Good luck all just a few days to wait. I just caught up with ST's recent article and 190p price target. We might have to wait a while to see that but seems a solid dividend should keep investors happy. I bought last month and seen a decent rise in past few weeks. Could easily climb to 130 on positive update
RE: Final Results... by BlueDealer
Mon, 09 Mar 2015 13:35:23 GMT
From the 20th of January trading statement... "Overall the Group's adjusted* results are expected to be in line with market expectations, with double digit growth in both revenues and profitability and substantial progress in our goal of diversifying group revenues." On debt... "To support the Group`s growth strategy through consolidation opportunities, we announced a new committed five year bank facility of £20m with AIB Group (UK) plc in May 2014, which incurred one off legal, professional and other costs of £0.5m. Group net debt as at 31 December 2014, including asset related finance, was £7.6m (31 December 2013: net cash of £2.8m). The increase in net debt reflects the total of £14m cash cost of acquisitions (including related expenses) during the year."
Final Results... by BlueDealer
Mon, 09 Mar 2015 13:28:36 GMT
...Next week on the 17th..
RE: Tipped in IC by ecovest
Mon, 09 Feb 2015 18:09:46 GMT
A few of my Aim shares dropped today - so I think just a (Greece related) overall market thing rather than share specific. Agree, looks very good value.
RE: Tipped in IC by Filthy
Mon, 09 Feb 2015 11:25:49 GMT
Oh well, strong div yield here so happy to hold, will prob top up when i've got some spare cash if the SP stays at these levels.
Tipped in IC by drjenner
Thu, 05 Feb 2015 12:03:02 GMT
Update - tipped yesterday by Simon Thompson in IC target 190p. Normally would spark an SP rise but nothing happened!
trading statement by ecovest
Tue, 20 Jan 2015 10:06:38 GMT
Results expected in line with expectations. Double digit revenue and profit growth. Diversification seems to be on track. Looks positive.
Anyone else out there by 3000cleoc
Fri, 19 Sep 2014 12:44:59 GMT
FRP is tipped in IC today - currently yielding 4.3% and rising to 5.1% over next 2 years - well covered divi and less risky than others - diversifying, forward PE of 8 DYOR but looks decent for a 5% yield