Broker Network Share Discussion Threads

[hectorp] 06/10/2007 17:21

Fine recovery since subprime hiccups in Ausust.. well done holders
( I closed in the 300's some months ago.
H.

[geovest] 04/10/2007 15:53

Results - Yes
Fundamentals - Yes
Latest acquisitions just a small cherry on top.
There is not a lot of liquidity in this share and anyone that want to buy in quantity inevitably bumps the price up. There is also good institutional interest but they struggle to get stock, which is good for he share price. Most shareholders are long term and not taking profit at every turn.

[km1966] 04/10/2007 08:25

up at the open again today, the results and latest aquisition are perhaps being taken into account?

[lomax99] 02/10/2007 08:39

Yes, good news.

Priestley's turnover for the last three years (ending September) has been: 03/04 £867k, 04/05 £894k & 05/06 £909k - presumably this will have nudged up again in the year just ended. Access to improved broking rates should provide an immmediate boost to their underlying performance.

[geovest] 02/10/2007 08:00

Second acquisition (and new network member) within a month. Seems like there is now a lot of activity after a relatively quiet period.

[geovest] 20/9/2007 11:25

I agree they should be at a premium. The network side has much more growth potential, for less cost, at greater margins, which justifies a premium to other brokers such as Jelf. Sooner or later this will be reflected in the share price.

[lomax99] 20/9/2007 10:56

So only another 40% (c. £5.85+)to go to hit an average.......

Not bad when you consider that with the growth they are exhibiting they should be at a premium, not a discount!

[geovest] 20/9/2007 10:10

Good article in Shares Magazine this morning. Highlights their clever move to fix higher commission rates for the next 3-5 years. Targets 20% market share of independent brokers (500 members) by 2015. Notes that there is tough competition to buy independent brokers whichcould sooner or later make BNH itself a target or one of the large insurers.

Shares says: The stock is cheap at 30% discount to its sector and still offers strong growth potential - BUY.

[geovest] 20/9/2007 09:04

Lomax, I fully agree. There are now a much broader institutional interest in the shares and with limited supply it will continue to push the shareprice. It is still very cheap compared to its peers.

[lomax99] 20/9/2007 07:47

Some more largish buys just before close of play yesterday, I have a feeling that we could see some more decent appreciation in the share price (currently 403.5p) this side of Christmas.

[lomax99] 18/9/2007 18:16

I see from the latest RNS that JP Chase & Co reduced their holding by 750,000, from 1,408,450 down to 658,450 (from 9.14% to 4.27% of share capital) - good to see the stock being taken so readily.

[diogenesj] 14/9/2007 17:01

Article's too long to post, ramu. It's really a puff for the IC stock screening system. Using the stock screens, he has put small amounts of money into 5 different stocks which he hopes will be ten-baggers (i.e. will rise to ten times the price he paid for them).

The other four are IDH, SAL, WOR, and WHG. He claims to have bought all of them at some unspecified time in the past; most are up quite a bit, but WHG is well down.

David Stevenson is not a tipster I would be inclined to follow myself.

[ramu231] 14/9/2007 16:50

Diogenes,

What are the other 9? Can you post David's article. Thanks

[diogenesj] 14/9/2007 13:40

Double kiss of death administered today by the IC: Broker Network said to be 'Good Value' in the company results section, and also featured in David Stevenson's article 'My Secret Ten-Bagger Fund'.

[lomax99] 14/9/2007 12:38

Glad the Northern Rock news came out today and not yesterday!

[diogenesj] 13/9/2007 22:30

Thanks, dixies - good news, and a bit better than I expected (I had mentally added 10% to the old forecasts).

[dixies] 13/9/2007 20:23

New forecasts out today from the company broker - 38.3p for 08 and 47.7p for 09. No wonder there was a fair bit of institutional buying today.

[lomax99] 13/9/2007 15:31

Rock n' Roll, my top up at £3.40 is looking good, someone has just bought £2M @ £4.00 a share. With positive press comment/analyst updates this could have a bit further to run short term.

[geovest] 13/9/2007 11:54

lomax, Fully agree thay should provide the numbers. I will try and attend the AGM next month and push them for it.

[diogenesj] 13/9/2007 11:01

Hmm, up on results. I was wrong. Very nice.

[lomax99] 13/9/2007 10:25

Geovest, Point well made on Mergers and it's impact on the overall total, however I do not think that they should be shying away from giving headline numbers (even if they require some explanation - numbers on mergers, new additions, departures, etc) - BNH have after all always given this information in the past, and now they have increased resource to achieve specific 2010/2015 targets.

[geovest] 13/9/2007 09:36

lomax, I didn't see any mention in te results of network numbers either, but I read in the trade press a few months ago that they have signed the 170th member,which was their y/e 07 target. They've also had quite a few mergers within the network during the period (this reduces overall member numbers but retains the income) making the achieved target even more noteworthy.

[lomax99] 13/9/2007 09:00

I have read, and re-read, the announcement but no where can I see where they give a figure for the current network membership total.

This seems rather odd given that they talk about growth >10%, new average member size being significantly higher (+64%), increased resource to target network expansion with an aim to hit 250 by 2010, and 500 by 2015.

Any ideas? I see the network side as being a primary driver for growth given the known benefits of operational gearing enjoyed by the Network. Previous results announcements have focused on network numbers, it would be a shame if we started to lose this focus.

Apologies if this seems a bit nit-picking in light of another excellent set of results!

[geovest] 13/9/2007 08:51

Next results will be IFRS, so we wont have to look at the notes to see 'real' results and EPS.

I would expect earnings growth of 20 - 30% next year, so EPS of 38-41p. At say 40p with a forward PE of say 15 (similar to Jelf) it should give us a target share price of 600 within the next 12 months. That is an upside of 58%. Tasty!

[liarspoker] 13/9/2007 08:34

Thanks Geovest - I just twigged when I was working out owner earnings ( call me slow ). :O)