Lakehouse Share Discussion Threads

[diduno] 13/6/2016 09:05

I take your point lippe. But should Lakehouse as a well organised contractor be facing all of its current problems? All contractors have their problems but with the exceptions of those already closed down, have any others suffered a 70% drop in share value?

[lippe] 13/6/2016 08:41

An interesting read, all things considered

[lippe] 13/6/2016 08:32

Lakehouse are a well organised regeneration contractor when compared with the opposition.

[diduno] 13/6/2016 08:19

lippe, it appears that Lakehouse could well be suffering reductions in its regeneration workload due to the problems in Hackney and now in Lambeth. We have had no further news on the Hackney Investigation but I have heard whispers that it is not finished and could become more serious for Lakehouse. Does anyone know if there have been casualties among senior regeneration staff? Five year framework contracts are no guarantee of future work particularly if word has spread among clients of problems using Lakehouse.

[cockerhoop] 13/6/2016 07:45

£50m

[tippers55] 13/6/2016 07:38

What's the market capitalisation of this stock now

[lippe] 12/6/2016 18:38

diduno,it centred around the regeneration division, but 'headwinds' have limited effects on five year framework contracts, there are now whispers about investigations with other Lambeth Living contractors

[bpc10] 12/6/2016 17:49

Looking for a 20p entry on the next profit warning

[diduno] 09/6/2016 12:54

On learning that Lambeth determined its contract with Lakehouse, it jogged my memory back to the publicised fraud investigation Hackney undertook concerning its contract with Lakehouse. Does anyone know if this was its regeneration division? If it was, this could possibly better explain the 'headwinds' the company is suffering due to what is claimed to be reductions in social housing budgets. Has the Hackney investigation been concluded and, if so, does anyone know the result?

[tippers55] 08/6/2016 11:40

see that they have appointed a restructuring expert to the board as an alternate director

[modform] 07/6/2016 13:33

D, if Rob Terry and QPP can get away with all those lies then anyone can. None of these companies would be allowed to get away with it in the US, but hey ho this is LSE

[diduno] 07/6/2016 11:08

Further to PJ1's comments on FCA and being conned by the departed CEO, surely FCA must have undertaken 'due diligence' checks on company prior to flotation? If so, were FCA also conned? Has anyone checked with FCA?

I am informed that problems could yet become more serious with the possibility of some senior staff facing charges.

[modform] 06/6/2016 23:24

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

[lippe] 06/6/2016 23:10

When your contracts are determined in Lambeth and you are replaced by Breyer then you know the writing is on the wall.

Des O'Cannibal multitasking robbing the poor with doing God's work ...

[lippe] 06/6/2016 23:10

When your contracts are determined in Lambeth and you are replaced by Breyer then you know the writing is on the wall.

Des O'Cannibal multitasking robbing the poor with doing God's work ...

[pj 1] 06/6/2016 21:45

x2 losses for me. Company in turmoil. How on earth FCA cannot react after 3 inline statements followed by x2 profit warnings baffles me. I even wasted cash going to meet them at Mello Beckenham. ( the beer and company was good though). CEO(now departed) conned me and lots of others.

Amazed the FD has kept his position, he should go imo

Total bargepole for 18 months.

[adamb1978] 06/6/2016 21:36

Bailed out of these recently nursing a painful loss. Main reasons being:

- Given their H1 performance and really poor outlook comments (in particular for Regeneration, which is their largest division), I cant for the life of me see how they'll achieve the market forecast of 7.9p EPS for the year. I actually think they'll struggle to make 5p
- Based on this, the PE is around 7x, which is closer to where this should be
- If my figures are correct, net debt / EBITDA is around 2.8x based on this years' figures which is highly levered for a small-cap, let alone for a company in this sector.

The only hope is Slater's representation in the company now which perhaps might lead to better management longer-term. However I do think that another profits warning is on its way, perhaps followed by an equity raising. Slater clearly wont want to write another cheque however perhaps if they bring in a CEO they believe in then they might. Also, with the current leverage the business will be constrained so at least raising some capital will given them a better chance to fund some growth. The near-term outlook from the recent narrative looks horrible and broader end-market outlook beyond that doesn't look much better either!

Really wish I hadn't got involved in this basket-case; you don't have to earn it back the way you lost it though!

All the best for those who continue to believe in this.

Adam

[paleje] 24/5/2016 14:38

Paul Scott met Chairman and FD on Friday (this is extra to his earlier column summarised by Albany) and came away more convinced that this will turn out well. His additional account is worth a read:-

[igoe104] 20/5/2016 13:47

I don`t normally like to catch a falling knife, but I do fancy these to bounce back over the next couple of years. so I`ve been adding a few today.

If slater fund start buying again, you got to expect a lot of other PI`s to start adding as well.

[outsizeclothes.com] 19/5/2016 00:30

These interims look "kitchen sink", but there's still profit, and still a divvy.
You don't pay a divvy if you believe that bank covs are actually in danger of being breached. I believe to do so would be illegal (reckless trading) so they must think things have bottomed.

[arthur_lame_stocks] 18/5/2016 17:47

I was talking to someone that used to work for Lakehouse today and he told me that they've been in trouble for a couple of years.

[mr hangman] 18/5/2016 12:00

Im out.........

[dlku] 18/5/2016 10:38

have bank covs been breached

[boystown] 18/5/2016 08:46

It wouldn't be a huge surprise to see a decent level of director buying now. The founders & associates come back in, they kitchen sink things as far as they can, the price plummets, they buy shares and there's a gradual recovery. It's all about earnings obviously - but a normal P/E and steady performance from here puts the shares at £1.

[albanyvillas] 17/5/2016 23:18

Precis of scotts piece

..... My guesstimate is that we're probably looking at perhaps 7-8p adj. EPS this year, instead of the previous broker consensus of c.10p. ..... If the business does recover, then the share price could be double or triple the current level, looking outwards say 12-24 months. I like situations like this - buying when market sentiment is on its knees, but the company is fundamentally sound, with fixable problems. Remember also that it's reporting a good order book, and contract wins today too, which I didn't get round to mentioning above.

Bottom line, at this level of c.32p, I think risk:reward is looking favourable, if you're prepared to accept the potential risk of another hit from more bad news. I see 100-200% upside here, with patience (1-2 years) ...