Lighthouse Share Discussion Threads

[trader2] 07/3/2016 11:47

tv - appreciate your posting. I do think there is a turn-around in the making - and though concerned to see webbcapital lighten up - I reason that their holding was disproportionately large within the fund - and am happy to see Helium Rising Stars Fund bulk up their holding.

[topvest] 07/3/2016 09:21

I've sold my holding for a small profit. Wasn't that impressed with the year end results. No positive messages or detail on auto-enrolment. Slightly negative outlook. Dividend lower than expectation. Was a bit scared by the large increase in the complaints provision as well where the entry is effectively DR Other debtors Cr. Complaints provision. Still looks a fairly marginal business so just did a quick QVM trade and out again (30% annual return over 3 months) as can't see that the business has really been turned around.

[activeservo] 24/2/2016 07:56

From the limited data we have LGT prospects are good, ie the positive final results which reflect the rising share price I suspect it's the low oil price and resulting bearish markets having an impact. I've seen a lot of good promising companies take a bashing. I'm amazed LGT hasn't been effected until now. Another year before we see the oil price properly start to recover.

[trader2] 24/2/2016 07:22

See that Peter Webb (webbcapital.com) has reduced his considerable holding. His fund has struggled of late. LGT was (and my still be) his largest holding. Was his sale driven by his view of LGT prospects - or a need a re-balance his fund?

[topvest] 23/2/2016 19:55

StockRank is still 97 on Stockopedia following these results, so all bodes well for getting a tad higher I think.

[lanzarote666] 23/2/2016 16:27

All good and in line with my original reasons for being here.

EBITDA growth, cash generation and contracts being renewed bodes well. Dividend increase as well.

Downside being higher regulatory costs which remain a threat.

By the way, Finncap have increased their target to 13p from 11p on the back of these numbers so maybe a breakout on the way.

8-)

[topvest] 22/2/2016 08:38

Yes, results fairly positive. EPS ahead, DPS below expectations. Not as positive on auto-enrolment as I would have liked but seems to be recovering well.

[trader2] 22/2/2016 08:05

Pleased too - we seem to be in a far better place. I guess the market is now looking for assurances that the IFA growth is sustainable?

[activeservo] 22/2/2016 07:45

Cracking final year results!

[topvest] 28/1/2016 19:57

Yes agreed. You get the feel that everything is improving here. How much these partnerships and pensions auto enrolment add to the top and the bottom line is the big Unknown. At least it's not negative news!

[graham1ty] 28/1/2016 18:14

Trader, the problem has been turning these relationships into money. The amount you can get advising nurses is obviously less than you can get advising airline pilots. They are great sources of introductions, but LGT have to show they can benefit profitably. Incrementally they are all good. But let us see an RNS that says they are bringing in business

[trader2] 28/1/2016 17:48

Shame that they never frame the value of these contracts.

[dulciemo] 28/1/2016 17:33

Another 3 year union contract signed today. This share is definitely on the up and about time too! It's just reached my entry price of 9.5p and I bought in 2010! Patience about to be rewarded methinks!!

[trader2] 16/12/2015 05:55

No specific mention of LGT - but few interesting IFA trends.

[topvest] 15/12/2015 21:26

Agreed - it all looks very positive indeed. The "something new" to get the share price moving is definitely SME auto-enrolment. The cynical side of my thinking is that the new options have been awarded before this all gets announced in 2016. The directors will have undoubtedly picked a "good point" to re-base. This will attract some more interest in 2016 I feel. It has been a bit of a dog, but is now fast improving.

[lanzarote666] 15/12/2015 19:39

The chart moving in the right direction and a ‘cup and handle’ formation has led me to consider an investment here.

Further research tells me that the coming auto-enrolment requirements on SMEs will give LGT a background to grow their Lighthouse Pension Trust side of the business significantly. Whilst 45,000 firms have had to comply this year, that number increases to 500,000 in 2016 and a further 600,000 in 2017. Add in ever changing rules to pensions, and UK demographics, and their advisers should be in demand (‘The Group has experienced significant demand’)

Points that interest me include

- New contracts
- £11.0m recurring revenues
- Increasing dividend
- Improving GP margins
- Revenues per adviser on the up
- Cash reserves
- Investment in technology linked to own products
- Previous restructuring has seen benefit to overhead cost base

NAI

[topvest] 11/12/2015 06:56

Yes, they are quite generous, but these sort of awards are normally done before better performance periods so, on balance, pretty positive. As I say, they are top of the QVM Stockopedia filter and seem to be trading well with the auto-enrolment bonus now starting to come through. Just don't know how big that is likely to be for them.

[graham1ty] 10/12/2015 21:50

Trader, if you know my history offering battle with the Board over excess pay, the delisting and the 2013 bonuses, then you know where I am coming from. While I am thrilled that the Executives have got some skin in the game, I would have like challenging and difficult targets. "If we beat difficult targets, we get to share". I am not sure a 14p share price target is difficult. I hope a 0.7p target is not hard. I want them to sweat a bit on my behalf ( if you can sweat taking the salaries that they do).

I hate when targets are set ( the previous scheme) and then abandoned because the Executive no longer feel they are achievable ( and so not an incentive). I would have been happy with double the number of options at 24p, but not at 1p for goodness sake. The Rxecutive could make lots of money from doing what they should be doing anyway.....growing the business a bit

[topvest] 10/12/2015 20:54

Yes, good news I feel as they certainly appear to be aiming to at least double the share price from here. All pretty positive here and tops Stockopedia's QVM analysis.

[trader2] 10/12/2015 16:58

Graham - appreciate your analysis. Might this put shareholders in a better place? Sure we get the dilution but now the Board see something from any appreciation of the share price.

[graham1ty] 10/12/2015 16:30

Nice option grant to the ( overpaid) executives. Nice to get trillions of shares at 1p exercise price. They replace options exercisable at 24p. Now, that would have been a good target, and remember the share price was above there at one stage.

So, with no shareholder vote, potentially 15% of the equity snaffled by the Board. I like the 14p target price.....but it all looks a bit rich considering the shenanigans over the last five years.....all a bit controversial. Malcolm must wonder why I have not been all over the Press today. Sorry, Malcolm, been out all day !

[topvest] 03/12/2015 10:42

Yes, another positive RNS. Be nice to get an update on pensions auto-enrolment at some stage and on how much business this is starting to drive.

[cwa1] 03/12/2015 07:46

New affinity contract:-

[topvest] 24/11/2015 11:20

This does look interesting now. Purchased a few. It's top of Stockopedia's StockRank rating at 99. The mass SME roll-out of auto-enrolment is on its way and could be positive to trading from now on although its difficult to gauge how material this will be.

[activeservo] 10/11/2015 08:35

It needs a good tree shake! Nice to reset the price after that hike. Hoping to see more interest over the next few months with this promising share.