3i Share Discussion Threads

[roguetraderuk] 10/3/2022 15:56

little growth look at the eps f/c next few years. the ratings is saving it maybe but expected some would grow impatient. that said, expect them to do marginally better than f/c but that means buying it lower than present is my guess.

[essentialinvestor] 10/3/2022 15:49

BME not on that type of rating and weak again today.


Perhaps I'm being too cautious here, agree though if you want to buy better
value on a world is ending type sentiment day. May be that was seen earlier this week.

[roguetraderuk] 10/3/2022 09:07

pepco on 23 times 2022 in poland. stubborn as an oxe just wont drop despite the general mkt declines. pepco is a similar discounter to action although the mix is more sided to clothing, although it does have a home section. a bit closer to primark in mix id say but very competitive pricing. general mkts moving lower means pressure on valuations across the board but think discount retail is a defensive sector in an inflationary environment. people will move down the price scale. in addition these arent mature businesses, they are still opening tons of stores.

[chc15] 09/3/2022 20:43

I don't think so, stonking revcovery here today, can only mean institutions are piling in.

[essentialinvestor] 04/3/2022 10:53

Below NAV, however their Action valuation may need to be revised lower?.

[chc15] 16/2/2022 23:30

Interesting looking at some of the funds that hold 3i, it falls into value, income and alternative. I think strong demand will continue for 3i, as fund portfolios realign this year.

[roguetraderuk] 15/2/2022 15:34

3i owns half of action and while its the biggest business it owns by far, it does own other businesses. That aside action is expected to grow strongly over the coming years, with a strong focus on central and eastern europe, where growth rates are higher. bme for example is forecast to have flat earnings over the next couple of years. thats in itself is a very strong franchise and theres an argument it might do just a lttle better than that, but i digress. Think action, whilst same sector, is a different beast given the differing lications as has been mentioned above.

[riverman77] 15/2/2022 14:55

B&m is listed in UK and must be on ev/ebitda multiple of around 8.5 (PE ratio is around 13-14). Does seem to be a lot more competition in the UK (Home Bargains, Poundland) so perhaps that justifies lower rating.

[essentialinvestor] 15/2/2022 14:47

It looks mighty steep to me if multiples compress, it looks very steep
even regardless of such an eventuality. What discount retailer is selling near that multiple.

[riverman77] 15/2/2022 14:32

Ev/ebitda multiple is 18.5 - what would that be as a price to earnings multiple? I'm guessing around 30x, so yes does look rather optimistic for a discount retailer (even if a very good one).

[essentialinvestor] 14/2/2022 18:38

Valuation multiple on Action now a tad optimistic given some likely ratings compression with rising longer term rates ?.

[chc15] 14/2/2022 09:54

Hmm, tempted to add, but will wait

[chc15] 27/1/2022 14:00

Agree, core, will be adding if this drops back.

[roguetraderuk] 27/1/2022 08:10

continue to hold a core holding in these but will put back on a trading position if they can move one leg lower and under the 200dma maybe to around 1200/1250

[jonwig] 27/1/2022 07:17

Q3 update:




All good, especially the largest holdings. NAV increased to 1,235p, so a premium of only 7%!

[essentialinvestor] 24/1/2022 14:31

I thought closer to around 12.70/5 may be a better area?,
but levels largely driven by wider equity markets in the short term at least

[roguetraderuk] 24/1/2022 14:29

pepco which is similar and in similar areas on 23 and 16 times 22 and 23 respectively. have been looking to reinitiate trading position on these. v close to 200dma now.

[essentialinvestor] 24/1/2022 14:26

Still a fat NAV premium.

Action valuation possibly on the high side?.

[bathcoup] 22/11/2021 09:11

jonwig, Truffle
Thanks. III has been on my watchlist for a few years - an expensive thing to watch! I'll spend a bit time reading up on it.

[jonwig] 21/11/2021 14:42

Yes, people are usually the key to performance, but often not realised at first.

[truffle] 21/11/2021 14:25

The key strategic change, in my opinion, was appointing Simon Borrows as CEO.
From memory, he was appointed in 2012, approximately when your 'great run' started.
He has been an outstanding CEO for 3i Group in my opinion.

But DYOR

[jonwig] 20/11/2021 16:13

Actually I bought them at their float (formerly known as ICFC) and soon after gave them to our daughter. Their hiatus from 2000 to 2010 was, I think, over-investment in the first dot-com boom. Their repositioning since then was remarkable. Buying the Action stake will have involved a certain amount of luck, of course!

I have bought since divesting, of course.

[bathcoup] 20/11/2021 15:17

jonwig,
III has had a great run since about a decade ago, did it make strategic changes to pull off such a feat?(Please click Max, following the link below, to display the full price chart)

https://www.google.co.uk/search?q=3i+group+plc+share+price&source=hp&ei=gA-ZYf2ZEIqLlwSjwZGgDw&iflsig=ALs-wAMAAAAAYZkdkBO7oby7n_x_5ZWlUfyTEbChWVss&oq=3i+Group+Plc&gs_lcp=
Cgdnd3Mtd2l6EAEYATILCC4QgAQQxwEQ0QMyBQgAEIAEMgUIABCABDIFCAAQgAQyBQgAEIAE
MgUIABCABDIFCAAQgAQyBQgAEIAEMgUIABCABDIFCAAQgAQ6DggAEI8BEOoCEIwDEOUCOg4ILhCPARDqAhC
MAxDlAlDEAVjEAWDmC2gBcAB4AIABPogBPpIBATGYAQCgAQKgAQGwAQo&;sclient=gws-wiz

[jonwig] 11/11/2021 17:52

That's right, it's in the RNS - thanks!!

[roguetraderuk] 11/11/2021 17:32

a quick search online says 2nd dec ex payment 12th jan. third party site so wants checking but i use it regularly