Admiral Share Discussion Threads

[m.t.glass] 13/3/2007 15:01

And here is a transcript of the presentation given by the directors on Results day. Some interesting comments in it...

"...This is one of my favorite charts. This shows our revenue growth year on year. I especially like the bit that goes 300, 400, 500, 600, 700; I like that. As you can see, we had turnover in our first year of GBP18 million, 1993. We now achieve that figure every nine or ten days...."

.

[m.t.glass] 13/3/2007 11:50

SUNDAY TIMES - BEST 100 COMPANIES TO WORK FOR


21. Admiral Group
Motor insurer

Admiral Group keeps its employees buoyant and shipshape by ensuring that they know how important they are to the company, which has a small, yet fun community feel despite its swift organic growth. In so doing Admiral recognises the importance of one-to-one communication with line managers and company leaders alike.

Henry Engelhardt, the chief executive, meets all new employees and most Admiral managers have opted not to have an office so as to create an informal, open-door setting. Communication continues through a variety of events, both formal and informal, such as online chats, tea parties and the chief executive star lunch, where excellent performance is recognised.

Consequently, employees feel that the organisation acknowledges the value of their contributions, giving a 77% positive score. They also feel excited about its future direction (82%) and fully involved at work, the 83% score here bettered by just nine companies.

The insurance firm was launched in 1993 by Engelhardt with just one brand and 57 staff. Today Admiral boasts six brands, more than 1m customers and more than 2,000 members of staff at its offices in Cardiff and Swansea. Employees find Engelhardt inspiring, giving him an 82% positive score (another top 10 ranking), and report that he runs the organisation on sound moral principles (80%).

To establish a sense of ownership, each Admiral employee takes part in a free share scheme and everyone gets the same amount of stock, regardless of seniority. A community feel is further underwritten by the company ensuring that each brand operates as a separate business, as management believes that smaller groups of people have greater collective energy.

The resultant team spirit is reflected throughout our survey. Employees give Admiral an 83% positive score for its ability to maintain a strong sense of family (ranking third), are confident in team members (84%, ninth) and feel that their colleagues are fun to work with (89%, second).

These rankings are probably helped by the company's own ministry of fun, which allocates a budget to different departments to organise social events. Past endeavours have included a St Patrick's Day limerick competition, winter Olympics snowboarding and a highly popular annual egg roulette, in which the odd manager does indeed end up with egg on his or her face.

In addition, surveys encourage feedback and ask staff to rate a variety of factors about work, with the results posted on the intranet and published in company magazines. They speak for themselves - employees say senior managers live the values of the company (80%), communicate openly and honestly (86%), and they award Engelhardt the same positive score for the faith they have in him, earning him another top 10 ranking.

Employees may change their hours if the firm can accommodate their wishes. Options include job-sharing, compressed hours and flexitime. This has resulted in less absenteeism, and staff say they are not under so much pressure at work that they can't concentrate (80% positive).

An Open Learning Centre allows people to develop a range of skills, from diversity awareness to languages. All receive at least 20 days' training and a new intranet system means that staff can even study at their desks.

[graham99114] 12/3/2007 09:13

nice find nicksoj - but as you say ............ SSHHHHHHhhhhhhhhhhh

[nicksoj] 10/3/2007 23:49

Pssst.....

Published on FT.com on the 9th March 07

Admiral jumped 4.3 per cent to £11.23 after Andrew Crean, Citigroup's highly-rated analyst, slapped a £12.25 target price on the motor insurer. Mr Crean reckons Admiral's earnings per share will increase threefold by 2011.

[graham99114] 09/3/2007 13:18

there she goes £11.00

[graham99114] 08/3/2007 11:42

looks to be on course to recover back to £11.00 quite quickly

[graham99114] 08/3/2007 09:13

make that 60 points - lovely bounce

[m.t.glass] 08/3/2007 08:48

Well it's clocked up 50 points from that ten pound floor..

[m.t.glass] 06/3/2007 13:33

Thanks for that, nicksoj. The google search I tried earlier came up repeatedly with two other charities of the same name that sounded less likely - one concerned with computers and one with the preservation of a village in New Jersey USA. Your find is clearly the correct one. Anyone here care to edit the Wiki entry?

[nicksoj] 06/3/2007 13:22

This is an incredible donation and sets a precedent. I've attached the link to the charity profile :

[saintloup] 06/3/2007 13:00

Last reported FY (i.e. 2005) they had roughly 1.1 million policy holders. Anyone know what the tally was for 2006?

[poppa07] 06/3/2007 12:31

Nice if you can afford it.
He's one of the funniest guys you'll ever meet too.
When we have our SGM, they always let him go last...it's the only thing
that guarantee's people will stay throughout.

[m.t.glass] 06/3/2007 10:59

"..chief operating officer David Stevens, his wife and one of the founder managers of Admiral Group, have donated a total of 9.88 mln shares to The Waterloo Foundation, a charitable foundation they recently set up..."

That's a hefty donation - around ninety million quidsworth!

[m.t.glass] 06/3/2007 09:03

Quiet here poppa ;o)

Just needs a few people to convince themselves that £10 is a suitably identifiable floor from which to spring, maybe.

[poppa07] 06/3/2007 07:19

24p dividend...nice!

[poppa07] 28/2/2007 12:15

Results out on Tuesday.
Us employees are hoping the share price stays low.
They give us a profit share in shares by dividing X amount of money by the share price....the lower the price, the more shares we get....it always bounces back up...luverly jubly!!!

[rovi57] 28/2/2007 09:21

get back up

[m.t.glass] 21/2/2007 12:15

A car insurance company from the United Kingdom has announced it plans to open a Halifax call centre this summer.
Admiral Group plc, which has headquarters in Cardiff, Wales, announced that it expects to employ 200 people in Nova Scotia by the end of the year and will recruit its first 50 employees in Halifax by April.
The company, listed on the London Stock Exchange, provides car insurance to 1.2 million U.K. motorists through a number of different brands, including Admiral, Bell Diamond and elephant.co.uk.
It employs 2,200 people in Wales, a company release said.
The Halifax operation is slated to open in June.

Source

[poppa07] 20/2/2007 10:44

Broker Upgrade yesterday:-

19-Feb-07 Numis Buy 1,096.00p - - Upgrade

[nicksoj] 25/1/2007 21:56

The same info from FT.com on the 23rd.

By Neil Hume and Robert Orr

Published: January 23 2007

...Insurance group Admiral fell 0.1 per cent to £10.53½ after an institutional shareholder cashed in, placing about 3m shares through Citigroup. Shares have doubled in the past year...

Back to the mid tens as at close on the 25th.

FULL STEAM AHEAD FOR MARCH 6th ! Just over 6 weeks to go.

[m.t.glass] 25/1/2007 01:53

This from Tgraf presumably refers yesterday

..Admiral Group, the motor insurer which had been driven higher
since it floated in 2004, gave back 32lp to 1021. Dealers said
Citigroup had been behind the placing of 3.5m shares in the
company at 1050 on Monday...

[stromboli1] 23/1/2007 12:04

Thanks Marlon
I wonder if £10 resistance will now become support?