Belvoir Share Discussion Threads

[bellymonster] 27/9/2013 15:46

Yes, I suppose that make sense about the intangibles. I really ought to learn to dig deeper into the results.

No level 2 I'm afraid. Looks like there has been a very slight recovery in the price this afternoon.

[tightfist] 27/9/2013 13:39

Do you have access to L2? How many Market Makers are there on BLV? I have just (had to) pay the full 153p to top-up, which is maybe surprising given this morning's fall?

[tightfist] 27/9/2013 13:13

I am just about to re-read the Interims but came here first!

FROM MEMORY, the intangibles will be the result of purchasing the lettings companies in the Basingstoke area, I think. I think the plan is to off-load two of these to Franchisees, but then they are acquiring the upmarket businesses in Central London. Time to read!

[bellymonster] 27/9/2013 12:26

Never mind topping up I should have stuck to my stop loss of 155p too but I blinked and missed it.

Just been re-reading the interims and I wondered about the massive hike in Intangible Assets from £38k to £2.3M.

I like the franchise model too but somethings not right here.

[tightfist] 27/9/2013 11:57

Ouch, that's a cliff-edge drop. At 145/150 it's just taken out a recommended Stop Loss from the TrendWatch magazine at 149p. That may account for the drop on a thinly-traded share. Moral of the story - don't deal in thinly traded shares?!

I am sticking-in as I like the story and the franchising business model.....

[tightfist] 27/9/2013 11:32

I wondered the same. I guess that completion of the induction course triggers the franchise fee invoicing? From memory the results sort-of admitted that they had been understaffed and stretched - now attended to.

The share price weakness may result from the large CEO & FD sales on 6th September amounting to ~5% of the issued shares. Not something I like to see, especially the FD. There are no announcements explaining where these shares have landed (just RNS's that Investec down a little, Miton up a little). So we are we seeing an overhang?

The simplicity of the business model is getting a little fogged by the company owning more outlets (presumably lots of intangibles incurred during the acquisitions) and piloting Sales as well as Lettings.

It does look tempting to top-up at these levels..... But we have all been caught before..... Does anyone know of any slow-down news in the Lettings market?

[wjccghcc] 27/9/2013 11:17

Not sure I understand the business model completely. H1 operating profits were down 12% due to the timing of the induction course for franchisees. Does this mean a significant amount of their revenues is course related fees rather than franchise fees?

[bellymonster] 27/9/2013 11:03

So whats going on with Belvoir? Good results released on the 5th September but still they fall on very low volumes.

In two minds as to whether to top up, but been caught out before - is bad news on the horizon?

[cnx] 01/8/2013 11:08

business expansion being followed

[fernandesb] 22/2/2013 18:52

Agreed,I purchased a few thousands shares @£1.02,I noticed that this share goes once in awhile,the spread however seems to be quite wide sometimes.I am sure that the share is under valued.Time will tell however.

[blueliner] 29/11/2012 05:20

From UK Analyst 28.11.12
Seymour Pierce reiterated its "buy" recommendation on Belvoir Lettings (BLV) with a target price of 113p. The reiteration comes after the company issued a trading update confirming the continued expansion of its network with the acquisition of four company owned stores, including that of Aldine Honey & Company, an estate agency operating in Belgravia, Chelsea and Kensington. The broker sees this as a shrewd move in terms of bolstering revenues. Seymour Pierce also notes that the underlying market strength for lettings in the UK is strong, with average yields on residential property at 5.4%, and uses this as further justification for its stance. The shares gained 1.5p to 104.5p.

[blueliner] 11/9/2012 21:18

No actually it was the infamous Worthington Nicholls whose shares did tumble and how.
I would hardly put BLV in the same category just wish they wouldn't trot out that phrase, anyway we can see another party mopped them up straightaway.
XD tomorrow.

[battlebus2] 11/9/2012 21:11

XPP perhaps then the shares tumbled.

[blueliner] 11/9/2012 20:03

Chairman + Founder selling to ' satisfy significant institutional demand ' , but still holds 44.5% of the company. Have heard that phrase before somewhere.

[pammiekins] 22/2/2012 20:54

Surprised no-one has set up a thread for Belvoir. So here goes.
I personally think the future is in lettings and not mortgages - the age of the average first time buyer is now 40. We are seeing a more continental type approach to housing forced by the reluctance of lenders to lend.