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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Debt Free Dir. | LSE:DFD | London | Ordinary Share | GB0032360280 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 175.50 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 175.50 | GBX |
Debt Free Direct (DFD) Share Charts1 Year Debt Free Direct Chart |
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1 Month Debt Free Direct Chart |
Intraday Debt Free Direct Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 07/3/2008 | 18:00 | DFD - IVA's that work | 268 |
| 08/10/2007 | 14:02 | Debt Free Direct - expensive toilet paper, no profit, no msg | 13 |
| 03/5/2007 | 07:06 | New life with debt and interest rate rises on the cards? | 856 |
| 04/2/2007 | 01:43 | Only worth 47p on fundamentals | 2 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 08/1/2008 19:30 by twentyoneeleven Peace Breaks Out In The IVA Sector...Dealing with dodgy debt Created: 8 January 2008 Written by: Jonas Crosland A truce has been called between leading lenders and providers of individual voluntary arrangements (IVAs) that should mark an end to the bitter acrimony that plagued insolvency practitioners for much of last year. While IVAs have only recently become a subject of serious contention, they have actually been around for some time - they were introduced in 1986 as part of the Insolvency Act, primarily for use by small businesses. An IVA is an agreement between an overburdened debtor and his or her creditors to repay a fixed monthly amount for five years. In return, all interest charges are suspended and creditors agree not to pursue any further claims on the money outstanding. The amount repaid can be as little as 25 per cent of the outstanding amount. This may sound like a raw deal for creditors but it is better than making someone bankrupt, which is not only a costly process but carries with it the prospect of getting back no money at all. However, after two decades, lenders began to feel the rules of the game needed some changing. So, following a year at loggerheads, IVA providers, working as insolvency practitioners (IPs) and represented by the Debt Resolution Forum, have thrashed out an agreement with the credit industry, represented by the British Bankers' Association . The deal incorporates a new fee structure and sets industry standards for advertising, advice, information and documentation. And with the big high street banks signing up, IVA providers can at last start to look forward to more visible revenue streams, although the business will be done on much less favourable terms. The new fee structure is not yet set in stone, but the broad principle is that instead of receiving an upfront commission, IPs will now earn their income from the first four or five months of contributions made by a debtor. Clearly, this provides an incentive to ensure that debtors can meet their agreed payments while also encouraging IPs to make sure they repay as much as possible.. Before the new agreement, a new IVA was worth around £2,700 to an IP, plus a monthly management fee of £78, giving a total income per IVA of about £7,400. Based on the new system, IPs are now likely to receive about a third as much income per IVA from an the average-sized problem debt. Still, creditors and debtors as well as IVA providers had been happy with the old way of doing things until it became clear that some unscrupulous operators were pushing individuals into inappropriate IVAs and taking their commission up front. In many cases, once the IPs had pocketed their cash, debtors failed to maintain payments forcing banks to write off increasing amounts of bad debt. This had the unpleasant side-effect of highlighting just how sloppy their lending criteria had been in the first place. So, last year, creditors put their foot down. Without the approval of 75 per cent of the creditors, an application for an IVA will fail. This was painful all round, but hit the legitimate IVA providers the hardest. Accuma , for example, saw its share price plummet by 92 per cent to just 21p at one stage. All this came at a time when margins were already being squeezed by increased advertising costs and a sharp rise in the number of IP firms, to over 600. Obviously, the situation could not be left unresolved, but it has taken a year of negotiations for the truce to be declared. It looks like this could have come in the nick of time. Accountancy firm Grant Thornton is predicting that personal insolvencies will jump this year to 120,000, almost triple the amount in 2004, and the average owed by problem debtors has now hit £30,000. So the potential increase in demand could mitigate some of the pressure the new fee arrangement will put on margins. Indeed, after the UK's annual Christmas spending binge, like anything else taken to excess, there is usually a hangover. And for many consumers this really starts to set in when bills begin to land on the doormat in January. In fact, the frenzied spending of someone else's money has now reached the stage where consumer debt is greater than the value of the UK's annual gross domestic product (GDP), and current estimates suggest that over 9m credit-card holders are struggling to keep up with their payments. What's more, there is evidence to suggest that over 4m people are still paying off debts from Christmas 2006. In previous years, extended credit facilities and the ability to pay off debt by remortgaging the house effectively put off the evil day when loans had to be repaid. But neither of these options is now on the table. Credit card companies are cutting borrowing limits and applying much tougher lending criteria, while stagnating house prices have severely curtailed the ability to remortgage. And it gets worse. Around 1.4m homes face mortgage repayment increases of up to £200 a month when fixed-rate deals taken out two years ago come to an end, due to interest rate rises over the past two years. Add to that the spiralling cost of gas, electricity and petrol, and the picture is pretty gloomy. A vast majority of people in debt will get by with a bit of time-honoured belt-tightening, but for some it is already too late. So, having taken the pain of the new fee structure, IPs will now be rubbing their hands. |
Posted at 14/10/2007 19:00 by tenapen Thanks kristini2,I do not know about shorting but i wish to go long on DFD. I have yet to buy so if the share price was to go down further more shares for me. Thanks and good luck. |
Posted at 13/9/2007 17:03 by sat69 Shrewd,Glad to hear you are not 'one and the same' as the aforementioned! However, it does appear you share the same views as Simon. Which is fair enough. Each to his own. Personally, I feel with the current debt climate not disappearing overnight, there is still plenty of money to be made by debt companies. Additionally, they all appear to be diversifying, therby not relying purely on IVA's. This has already started to feed into the bottom line, and we will see the positive effects in the next set of results. Further, in the case of DFD, the taking on board of Hanover personnel will surely add to the strength of the company. Hanover have an excellent record of turning companies around. And finally....the imminent share buyback will bring the share price back to the levels it should be at. sat |
Posted at 17/8/2007 22:44 by sat69 Diogenes,Hanover picked up another 1.3 mill shares this week, increasing their holding from 15% to 18%. They also are aware that DFD are about to buyback 4.5 mill shares in the coming weeks. The share price slipped back earlier on the week, along with the general turmoil in the markets, but that was quickly put right today. We are back on track to shoot past £3 next week, and I'm glad to be a holder! sat |
Posted at 17/7/2007 16:37 by sat69 JB...Info as requestedsat RNS Number:0064Z Debt Free Direct Group PLC 26 June 2007 DEBT FREE DIRECT GROUP PLC ("Debt Free Direct", the "Company" or the "Group") Acquisition of Clear Start UK Limited ("Clear Start") (the "Acquisition") Highlights: Acquisition - Initial consideration satisfied by the issue of 4,159,671 new ordinary shares - Initial consideration values Clear Start at approximately #10.9 million - Deferred consideration of up to a further 2,229,482 new ordinary shares dependent on share price performance of Debt Free Direct over next two years - Acquisition is expected to be earnings enhancing - Clear Start vendors (the "Vendors") to nominate two board members Rationale for enlarged group - Clear Start is a rapidly-growing consumer debt advice and solutions company that brings: o A strong management team with a background in financial services; o Top ten IVA volumes through proprietary online and referral channels; o Industry-recognised creditor relationships and innovative creditor services. - The directors of the Group (the "Directors") believe that the enlarged group will be clear market leaders in the IVA space, and will move quickly in a consolidating market to broaden the range of products and services it provides. Share buyback - Proposed share buyback of up to 4,500,000 shares - Proposal is to buy back shares up to the number of shares issued as consideration in order to maximise the accretive earnings impact of the Acquisition, whilst ensuring that the Vendors' interests are aligned with other Debt Free Direct shareholders - Share buyback to be funded by proposed new debt facility of approximately #16 million - Shareholder approval will be required to authorise the Company to purchase its own shares and to cancel the Company's share premium account in order to effect the share buyback programme Extraordinary General Meeting - An Extraordinary General Meeting ("EGM") of the Company will be convened for 18 July 2007, to consider the resolutions necessary to effect the proposed share buyback |
Posted at 28/6/2007 20:19 by sat69 aatwWe can never be sure if they were sells or buys. I often buy shares which are reported as sells, and I guess nobody really ever gets to know about it. I'm glad you feel safer with your DFD holding. As for me, I was expecting a rally pre results, and a very strong bounce after the results; I thought they were excellent. How many companies double their profits, double their dividend, announce a share buyback programme, and see their shares plummet! Something is amiss. I believe there is just a share overhang at the moment with BofA continuing to reduce their holding. Once that is out of the way, we can expect a strong recovery in the share price Like yourself, I believe the fundamentals look sound, so it's only a matter of time for the share price to get back to where it should be. For the record, I never short stocks :-) sat |
Posted at 25/6/2007 15:35 by aatw5295 Do you not think the previous results of other debt companies has already been factored into the share price of DFD, debts co uk etc etc IMO its the simple case of too many shorters for the share price to gather significant pace. Are the investors to nervous to wait for a solid return or do they have too little faith in the comapany and indeed sector and therefore take profit when its available. Must admit todays drop is a bit of a suprise though, intraday or not. needsless to say IMHO |
Posted at 13/6/2007 08:53 by sat69 The below trading update was given on 3rd May 07, when the share price was at around 350p. Nothing has changed since then, so the share price is clearly now heavily oversold on the back of nervousness about the forthcoming results. I fully expect a major bounce back to over £3 by the end of the month...Debt Free Direct Gro Debt Free Direct sees FY pretax in line with market consensus UPDATE LONDON (Thomson Financial) - Debt Free Direct Group PLC said it sees full-year adjusted pretax profits in line with market expectations at 8.5 mln stg and that it remains very confident in its strong position despite an IVA market riddled with competition and creditor pressures. The debt advice company said turnover has grown 72 pct in the year to end-April, and that it expects profitability in the current year to be broadly in line with current market expectations as the positive impact of its new DFD Mortgages and debt management plans units offset higher IVA costs. The company also said its operations in Australia continue to meet expectations, and said it expects the business to become profitable in the financial year 2009. Debt Free Direct also said its loan and mortgage business continues to make "encouraging progress" and shows better case conversions. The company expects revenues from this unit to grown in excess of 4.5 mln stg in the new financial from 2.1 mln in the year to April. The company said its new income stream from debt management plans "has been in line with early expectations" since its launch in January, with revenue expected to grow to 0.9 mln stg in the current year. |
Posted at 29/1/2007 11:45 by kristini2 Citywire-broker Keefe today rates DFD a buy with price target of £5.00!That price would be a near £200m market cap and DFD are going to be 'challenged' to hit this year's profit target. One broker had a target of £11.9m. That produces some PE ratio for a company in a market that appears to be going ex growth and with some uncertainty. I assume thees brokers know more than me so what am I missing. It is safe to bet that DFD are not going to hit £11.9m and with all the uncertainty why should the rating be more than 8X assume revised estimated profits (let's project £8m.) An approx £64m market cap provides a share price of around £174.00 at best. The share price could bounce short term, especially with all the broker buys out today. K |
Posted at 25/10/2006 16:30 by silverthread ARA500 - Although DFD is on a higher PE than competitors, there are several things that one could argue justifies this premium: 1) DFD offers a dividend; 2) DFD is longer established in the market (originally formed in 1997); 3) DFD is more than three times bigger than its nearest competitor; 4) DFD has launched in Australia 5) DFD is clearly seen as the market leader, with a professional approach to dealing with individuals and creditors (DFD is taking the lead in discussions with the banks); 6) The IVA market growth is accelerating (all will gain, but the bigger, more established player stands the best chance of capitalising); 7) DFD has a track record of several years profitable growth (some of its competitors have yet to report even one year's performance). 8) DFD has attracted buying interest from investment houses because of its size and track record. DFD is not the only company that will gain from the IVA marketplace. For sure others will, too. FWIW personally I feel DFD is the safer option and the one most likely to deliver good returns. But please DYOR. |
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