Lakehouse Share Discussion Threads

[igoe104] 24/11/2016 07:31

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.

[paduardo] 08/11/2016 02:06

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

[diduno] 07/11/2016 16:22

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.

[vfast] 07/11/2016 14:14

Thanks Imranawan, I was thinking by the end of December at the latest but will have to wait until January.

[imranawan] 07/11/2016 14:02

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.

[vfast] 07/11/2016 12:03

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?

[salpara111] 05/10/2016 12:39

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.

[glasshalfull] 03/10/2016 08:37

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.

Regards
GHF

[blueball] 03/10/2016 08:33

Even cheaper this morning.

[diduno] 08/8/2016 17:27

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.

[tippers55] 08/8/2016 11:58

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

[diduno] 08/8/2016 09:17

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.

[chickenrun1] 06/8/2016 10:26

SCSW say average down.

[vfast] 05/8/2016 19:49

Thanks for the information Paleje.

Classic recovery stock.

IMO DYOR

[igoe104] 03/8/2016 08:52

Lakehouse

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.

[sharw] 02/8/2016 18:50

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.

[cerrito] 02/8/2016 18:43

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.

[cerrito] 02/8/2016 10:08

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.

[onjohn] 02/8/2016 08:21

DX, now thats a nasty one

[funkmasterp12] 02/8/2016 08:17

Reminds me of DX, also chaired by Bob Holt. He's on the board of another previous hold of mine, INSE, which for now is bucking the trend.

[onjohn] 02/8/2016 08:16

people were paying 35p after Bob Holts recent appointment. Good to have him on board. i can even see Mears bidding for Lake

[onjohn] 02/8/2016 08:15

directors buying here is suspect

[pj 1] 02/8/2016 08:14

Lets hope there is some margin in the contract win