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Lakehouse Share Discussion Threads
Showing 726 to 749 of 750 messages
|Ric Piper, who was previously the Non-Executive Chairman of the Company, has agreed to remain on the Board as an independent Non-Executive Director until 30 November 2016 to facilitate an appropriate handover of responsibilities to Mr Holt, if his appointment is confirmed following the General Meeting. The Board sincerely thanks Ric Piper for his positive contribution to the Board and the business during his time as Chairman and wishes him well.|
|Ric Piper resigns, was that expected?|
|I believe they are a good recovery play and they generate cash so think they will pay the 2p divi.
100% agree there are ex LAKE employees which hold grudges on the board and it's not hard to work out who they are!|
|Lakehouse own 10 businesses so its very unlikely to go bust, so hopefully a recovery sooner rather than later.
yes a 2p divi, would be a good message to send to the market.
I get the impression we have some ex lake employees with a few grudges, hanging around this forum.|
Hope they pay a 2p final divi and an improvement in the business moving forward in 2017/18.|
|Notice of Preliminary Results
Lakehouse, the asset and energy support services group, will announce its preliminary results for the year ended 30 September 2016 on 24 January 2017.|
|Thanks for your post Imran. I closed my position yesterday after I read it. I get highly suspicious when company's elect not to provide a trading update particularly in light of the share price weakness and the known issues. I have been burned this way before. Low conviction hold for me anyway - I had been debating closing it for a number of days due to sector issues etc anyway|
|I wouldn't hold your breath vfast, I have heard from a good source that one client is actively seeking to claim back enormous sums from Lakehouse. Sorry I can't be specific but I'm sure all will be revealed in due course.|
|Thanks Imranawan, I was thinking by the end of December at the latest but will have to wait until January.|
|I spoke to their IR Team and they said that FY results would be issued in Jan. I queried whether they would provide a Trading update for the year and they said they wouldn't as this isn't a requirement now.|
|The final results are due this month or December and hoping for a final dividend of 2p making 3p for the year.
I'm not expecting them to say all is 100% however I'm hoping they are on the road to recovery in the medium term and a 3p divi is an attractive yield at 31/32p a share.
Has anyone got an approx date for the final results?|
|I remember when this floated and I had a look at it but could not comprehend the valuation Vs similar FTSE 350 businesses.
At the time I thought that a valuation of roughly 50% of the float price would have been reasonable, clearly it is well below that level now but it really does suggest that far too many floats are at wildly optimistic prices.|
|Perhaps news leaking out...such as the following article which indicates that their roofing division is being wound down & in addition a redundancy programme that could total 170 employees.
I don't hold.
|Even cheaper this morning.|
|I am informed that the company's problems are by no means restricted to those referred to above by tippers55, although this gives an insight into the company. There are more serious ones that could follow. I am amazed that the company was allowed to float in the middle of a serious fraud investigation relating to its work with Hackney Council.
Even if it wins contracts, I doubt there will be many sub-contractors prepared to work for it especially in view of it losing 5 adjudications and apparently not settling.|
|there are further problems with the hackney contract. Lakehouse have recently lost 5 adjudications and are being sued for £2M by a sub-contractor for unpaid monies due under these contracts and claims for breaches of contract|
|Anyone notice that Carol Bailey, Director for Regeneration South, appears to have left last week after resigning 01 May 2016? There has been no notification, apart from that to Companies House, or statement of thanks for all her hard work which in itself is unusual. She was simply removed from the Executive Management Team without explanation.
My sources tell me that this in connection with the current problems in Regeneration and the possibility of further problems.|
|SCSW say average down.|
|Thanks for the information Paleje.
Classic recovery stock.
Shares 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.|
|Cerrito - "Sobering to go through the exceptionals they list" - yes, but I expect that in this and the results to follow the new management will do as much kitchen sinking as they can so that they can take maximum credit for any improvements in the new financial year.|
|One assumes that the bankers will continue to be supportive and I see that as at June 30 they had £17m head room which should be enough.: I assume that the £45m revolver is up for renewal in December 2016 and will be extended at this level for another year no doubt at an increased margin and that as covenants have not been mentioned this is not an issue.|
|Yes,FunkmasterP12 the increase in net debt is concerning and we need to brace ourselves for it going higher as many of the exceptionals had not been paid out in cash as at June 30.
Sobering to go through the exceptionals they list
Regeneration Division £4m; £1.5m contract win training; £1m staff redeploying and retraining; general meetings/management changes £1.5m
In terms of management changes given that Mr McMahon is given a quote one assumes he will be staying-especially as Energy Services are the star not only with this contract in but also the fact that in the first half they were the biggest EBITA performer. Actually given that Energy’s sales are running at £40m each semester this £5mpa contract will not move the dial much in revenue terms.
On assumption that all currently identified bad news is out, those who bought first thing this morning will do well and I have no desire to sell and thinking about buying more.|
|DX, now thats a nasty one|