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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Lakehouse | LAKE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 35.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 35.00 | 35.00 |
| Top Posts |
|---|
Posted at 19/8/2018 11:33 by diduno 1newtothis - I'm sorry to have to tell you that your information source is misleading. Whilst Lake may well claim that it was they who first notified police of a fraud, is this the fraud currently being investigated by police? My sources tell me that it isn't.Furthermore, Bob Holt has previously stated that Lake was not complicit in the fraud and that it was just a few rogue staff. This begs the question were these rogue staff, who I am informed were senior managers responsible for £millions of work, not managed or supervised by their superiors or directors? If so, what were they looking at in order to permit, what appears from Hackney Mayor's correspondence with other authorities, to be an extremely serious fraud take place. Moreover, if these managers were staff of Lake, is the company not ultimately responsible? Lake cannot simply wash its hands of corrupt staff and claim they did not form part of the company together with all the other staff it employs and credits for their professionalism. Taking into account the above, how or why was Lake allowed to float on the stock market shortly before news of the fraud was publicised? Were the relevant authorities aware of the reported fraud and had the company, as it claims, reported it to police before or after the flotation? Either way, a lot of investors have lost a lot of money based on the float price of 89p and I think these questions should be addressed. Whilst we are all aware that past performance is no indicator of future performance, it is my belief that, in this instance, it will be. With reference to the sale of Construction, Property Services and Fosters to the Mapps Group, it must be accepted that this private limited company was only established in June of this year. It has absolutely no track record or even phone number or email address listed, although it is claimed to be backed by 'sector specialists'. Who are these specialists? Are they related to Lake? Inewtothis and vfast should simply ignore my posts if they believe them to be of no value. |
Posted at 05/11/2017 09:53 by diduno You appear to know Bob Holt personally, Napoleon 14th. You know that he is confident about what he can do and that he enjoys a challenge. But are you aware of the size of the challenge that he has taken on? Until police investigations are complete I dare say you, like most, have absolutely no idea. Perhaps Bob Holt isn't fully aware either as the alleged frauds took place prior to him taking over. However, it is clear that he knows the company had 'rogue employees' because he has said so. With that in mind, I think it foolish not to expect criminal prosecutions.You are indeed correct when you say that the proof will be in the pudding. But what if the ingredients contain poison which it appears from Bob Holt's statement, it surely must? The only unknown at this point is how much poison? Are you willing to gamble on this and invest? It sounds to me that you are not. I do not blame current investors for talking the company up as some have probably lost a large chunk of their original investment already and are eager to see a recovery, but I fail to understand why those with no financial interest should do so unless they have ties with Lakehouse and/or Bob Holt. |
Posted at 08/7/2017 09:45 by diduno To expect that Lakehouse has not sought legal advice would be extremely naive. The fact that there has been no injunction against the Evening Standard does, I think, speak volumes.The information passed to me suggests that the Hackney fraud is more extensive than vfast states and involves a large number of people. Indeed, the Standard lists 10 people that police have called in. I am told that at least 3 senior Lakehouse employees have been dismissed and their superiors have since left. It cannot, at this point at least, be viewed that any of these are guilty of criminal offences. Only time will tell should the frauds allegedly perpetrated result in criminal charges and convictions. It is, however, confirmed that police are investigating and that being so, I think investors should be prepared for the worst. Like jbfnfn, I suspect there may also be an attempt to buy the company on the cheap. |
Posted at 31/12/2016 08:38 by igoe104 Stocks: Lakehouse PLC (LAKE) PT Decreased to GBX 100Lakehouse PLC (LON:LAKE) had its target price cut by research analysts at Peel Hunt from GBX 130 ($1.60) to GBX 100 ($1.23) in a research report issued to clients and investors on Tuesday. The brokerage presently has a “buy” rating on the stock. Peel Hunt’s price target suggests a potential upside of 200.75% from the stock’s current price. |
Posted at 03/8/2016 08:52 by igoe104 LakehouseShares in asset and energy support services company Lakehouse (LSE: LAKE) have fallen by around 7% today after it released a somewhat mixed trading update. Its Regeneration division continues to create challenges for the business, with Lakehouse now anticipating that there will be further writedowns during the current financial year as it seeks to close out issues with contract settlements. This is expected to have an adverse impact of £4m on its full-year results. However, Lakehouse is also experiencing strong underling trading elsewhere in its business and today announced a £37m contract win from Scottish Power to install domestic smart meters across Scotland, Wales and North West England. And with Lakehouse expected to return to double-digit bottom-line growth next year, its shares trade on a price-to-earnings growth (PEG) ratio of just 0.4. This indicates that while investor sentiment may be weak at the moment, there's good value on offer for long-term investors. |
Posted at 22/7/2016 15:03 by igoe104 What’s behind Lakehouse plc’s 30% gain today?By Motley Fool | Fri, 22nd July 2016 - 10:12 Share this Shares in housing services provider Lakehouse (LSE:LAKE) are surging today, trading up by more than 30% in early deals as investors celebrate the appointment of Robert Holt as a director and executive chairman yesterday. Following the resignation of CEO Stuart Black on 21 April 2016, Mr Holt has been appointed to spearhead the company's turnaround after a turbulent period of trading. Indeed, in the group's interim results for the six months ended 31 March 2016, management reported that Lakehouse has had a challenging start to 2016 with challenging market conditions exacerbated by internal disruption as the composition of the company's board was reconsidered. Perfect person for the job? Robert Holt seems to be the perfect man to instigate a turnaround at Lakehouse. He has plenty of experience in the property sector after running social housing maintenance company Mears more than a decade. He purchased Mears for just £50,000 in 1996 and today the company is worth just under £400m with sales set to hit £1bn, according to City estimates, by 2017. So, if he can replicate his Mears success with Lakehouse, the group's long-suffering shareholders may finally be able to receive a return on their investment. Lakehouse has been one of London's worst-ever-performin Taking on a challenge It's clear that Bob Holt has got his work cut out for him. Even though Lakehouse has only been a public company for a few months, the firm has already been subject to plenty of scrutiny and has fought an activist battle with Slater Investments Ltd and Steve Rawlings. Rawlings founded the company in 1988 and left in 2012. Together with Slater Investments, they account for a combined stake of around 22% of Lakehouse. This activist battle, coupled with numerous top-level management changes has hit Lakehouse's day-to-day operations. It posted a pre-tax loss of £1.8m in the six months to 31 March, compared to a profit of £1.2m reported for the same period a year earlier. Stripping out exceptional items, underlying pre-tax profit fell 45%. Revenues ticked higher to £167.8m from £161.3m for the period. For the year ending 30 September 2016, City analysts currently expect Lakehouse to report earnings per share of 7.9p, which implies that the company is trading at a forward P/E of 3.2. A full-year dividend of 3p per share is also expected, giving a dividend yield of 12%. Analysts have pencilled-in earnings per share growth of 10% for 2017. The bottom line So overall, the appointment of Bob Holt at the helm of Lakehouse could mark the beginning of a new chapter for the company. And with its shares trading at such a depressed valuation, there could be value to be found in this turnaround story |
Posted at 13/6/2016 09:59 by diduno That's as maybe. As a Lakehouse investor I expected comparison with the best performers, not the worst. |
Posted at 06/6/2016 23:24 by modform PJ, sorry to hear that. The writing was on the wall after the inline statement in December when the share price fell which was clearly indicating that the statement was a lie to get the people in the know to sell on a high and that's when I sold mine. This is not even AIM, and how the company is allowed to continuously mislead investors is beyond me.I |
Posted at 25/3/2016 13:12 by masurenguy Under-fire Lakehouse calls on Mark Slater to reveal plansSocial housing contractor says rebel shareholders led by star fund manager Mark Slater have failed to detail their plans for the company. Under-fire social housing contractor Lakehouse (LAKE)has dismissed the shareholder revolt led by star fund manager Mark Slater, arguing its agitators have failed to provide any details on their plans for the company. Lakehouse has issued a circular to shareholders urging them to vote against proposals from Slater, a major backer of the company, and Steve Rawlings, Lakehouse's founder, to replace the company's three non-executive directors. Slater and Rawlings are calling for Chris Geoghegan, Jill Ainscough and Jonathan Ford to be removed from the board. Rawlings is putting himself forward as a non-executive, alongside Ric Piper, former finance director at engineering group WS Atkins (ATKW) and activist investor Robert Legget, managing director of fund group Progressive Value Management. Lakehouse has accused the Slater and Rawlings of failing to provide any information on their plans for the company. 'If the requisitionists have a clear plan, let's hear it. That's all we are asking for,' said chief executive Stuart Black. 'We haven't seen any evidence of a plan for what they want to do.' Citywire AAA-rated manager Slater holds Lakehouse in his Slater Growth and Income funds, having bought the company when it floated last year. Since then, shares in the company have halved, after it warned last month that profits were likely to fall this year as social housing landlords hold back on spending. The shares fell a further 7%,to 45p today as investors digested the circular. Black claimed he had been in dialogue with Slater Investments up until yesterday and had proposed compromises, but they had been rejected by the fund group. 'I find an irony that Mark Slater is a champion of the small company business and he is the one putting us under significant pressure. My only disappointment is this whole process is taking our attention away from dealing with those external challenges.' Lakehouse also launched an attack on Rawlings, claiming his track record as a director since 2012 'does not suggest that he has the necessary skill set to provide a meaningful contribution to the board or group going forward'. Although nominally "chief executive", Steve Rawlings did not attend a single board meeting during the three years prior to the initial public offering and did not have any involvement with the board decisions taken relating to the strategic direction of the group and its day-to-day operations,' said the board in its circular. Lakehouse also questioned whether Piper would be able to devote enough time to Lakehouse alongside his other director positions and said Legget lacked listed company board experience. Chairman Chris Geoghegan added that the three replacements put forward for the board would 'result in all the non-executive directors representing only one particular group of Lakehouse shareholders in preference to other Lakehouse shareholders'. Slater Investments said in a statement: 'We note the statement from the board and we will be releasing our letter to Lakehouse shareholders shortly'. |
Posted at 04/2/2016 11:07 by rivaldo Good summary in today's Shares Magazine:"Lakehouse sell-off overdone OLD 2016 FORECASTS Earnings per share 12.4p Dividend per share 4.2p NEW 2016 FORECASTS Earnings per share 9.9p Dividend per share 3.5p Source: Peel Hunt A shock collapse in the share price of social housing specialist Lakehouse (LAKE) should be leaving investors scratching their heads. Based on earnings forecasts for the financial year to 30 September 2016, Lakehouse traded on a price-to-earnings ratio of eight before a trading update released on 1 February 2016. After the statement, when shares plunged 60% to 35p because of a slowdown in Lakehouse’s Regeneration division, the business now trades at three-and-a-half times earnings – even on downgraded forecasts. Either the market or the forecasts are wrong. The answer, in our view, is a bit of both and overall we are bullish on the stock. While it is possible earnings per share forecasts from house broker Peel Hunt will fall further from a revised 9.9p (down from 12.4p), we don’t anticipate Lakehouse facing the kind of existential threat its market value now seems to imply. This is a business with a high quality, well aligned management team, a reasonably strong balance sheet and a presence in markets that should be fairly predictable over the longer term. Management is a particular strength at Lakehouse. Executive chairman Stuart Black, former chief executive of market leading social housing and home care outfit Mears (MER), has set out a clear strategy to build the business via acquisition through the £23.1 million of funds raised via a March 2015 IPO, as well as a £45 million debt facility. Lakehouse has grown from a £50 million turnover business in 2009 when Black took the top job to a national contractor delivering £340 million in sales in the last 12 months. Founder and philanthropist Steven Rawlings, who is no longer involved in the day-to-day running of the business, owns 15.5%. And a number of current managers of the business also have personal shareholdings totaling at least 18%. Lakehouse’s balance sheet is not exactly the Rock of Gibraltar but it’s not dangerously weak either. Joining the market in March 2015, it started life as a public company with no debt and reported a net cash position of £6.6 million in full-year results reported in December 2015. Two acquisitions that totalled £12.2 million post-year-end may see the business move into a net debt position when interim results are reported later this year. It’s worth noting that Mears, operating in a similar market, runs net debt at around 1.4 time earnings before interest, tax, depreciation and amortisation (EBITDA), indicating considerable further borrowing capacity at Lakehouse, if required. Finally, Lakehouse operates in markets with recurring revenue, underpinned by government spend which is generally non-discretionary in nature. Housing regeneration, compliance with health and safety regulations and its small scale public construction unit offers a decent selection of largely defensive sectors. It’s worth pointing out that property support service companies do not have a glittering track record on public markets. While we would argue they were different kinds of business to Lakehouse, previously listed entities including Erinaceous and Connaught disappeared without a trace and this is a risk worth considering by all investors. SHARES SAYS: A blip and a more attractive entry point, in our view. Buy at 35p." |
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