Afh Financial Share Discussion Threads

[eentweedrie] 01/10/2019 09:59

lol another treeshake.these pi's just never learn...

[dexdringle] 30/9/2019 13:38

Non Indemnified Commission is that received 'on the drip' - which is to say is gradually received during the life of a policy. Indemnified Commission on the other hand is all paid up front but would be clawed back if the policy didn't run for a certain number of years (ie the adviser indemnifies the plan provider promising to return some of the commission paid up front if things don't pan out)

Indemnified Commission will cause a large slug of cash up front on a policy sale but that money will then be exposed to a potential clawback. Non Indemnified Commission is therefore safest as it is simply earned each completed policy year with no risk of clawback.

Obviously switching from Indemnified to non Indemnified sales will adversely affect short term cashflow because, while you will get the same amount in the end (or maybe a bit more), you get it gradually over the term of the policy rather than all up front.

If you take commissions Indemnified (all up front) you need an item in the accounts to reflect the potential clawback because some of that money is really future income.

Such a switch is likely to be a sign that the company is doing nicely cashflow wise and is not reliant on upfront commissions.....

[nfs] 30/9/2019 13:06

The non-indemnified commission is stated net of GBP1.2m doubtful debt provision relating to commission on policies that may lapse before term. This balance has been shown separately from trade receivables in the note above and the cashflow statement, note 10 for the year ended 31 October 2018 to be consistent with its current disclosure.Included in the Non-indemnified receivable is GBP5.3m of commissions receivable from insurance companies on life and other protection policies brokered by the protection division due in greater than 1 year.So it must be re endowment policies or other insurance related products. Was nil at H1 in prior year

[bazzer1000] 30/9/2019 10:34

Morning all. This does look good but can anyone help me with the meaning of 'non-indemnified commission receivable' see note 10 of the H1 results. This seems to have had a significant impact on cash flow.

[1pvh] 30/9/2019 08:58

Bargain at this level. Increasing need for their services demographically. Very reassuring statement today . Bought more at 292

[quepassa] 30/9/2019 08:18

This morning.

Liberum issue broker note and REITERATE their BUY RECOMMENDATION with unchanged Price Target of 568p.

Liberum see UPSIDE of near 100% to current mid share price.

ALL IMO. DYOR.
QP

[rivaldo] 30/9/2019 08:12

Very reassuring RNS, good news. H2 trading is going well, no further funding will be required, organic growth continues to thrive, future acquisitions will be from free cash flow.....time to re-rate back upwards.

[jrr1] 30/9/2019 08:11

good to see a bit more clarity on future cash raises and organic growth

[soundbuy] 30/9/2019 07:39

Reads well................

[eentweedrie] 30/9/2019 07:33

Great update

[eentweedrie] 30/9/2019 07:32

great update

[ronwilkes123] 27/9/2019 16:10

Yes and clarify that st James place is soaring today and looks to be in a firm up trend

[eentweedrie] 27/9/2019 16:01

yes very odd

[ronwilkes123] 27/9/2019 15:50

Late delayed from this morning imoDon't always trust what ADVFN showsFurther mms walking this down to mid low 270s by close with no trades

[eentweedrie] 27/9/2019 15:45

no they were buys - i was doing a dummy sell with 5k and all i was offered was 1.76

[ronwilkes123] 27/9/2019 15:38

Not sure they were buys considering price has dipped again The year low looking likelyAgain this doesn't appear sector related as sjp is well up today

[eentweedrie] 27/9/2019 14:13

two rather large buys at 2.78

[rivaldo] 27/9/2019 13:52

Lombard Odier Asset Management are buying - they now have 6.34%, or 2.71m shares:

[jrr1] 27/9/2019 13:48

at least someone is buying is building a stake.
i agree there is a seller or 2 in the market which wont help the share price.

[ronwilkes123] 27/9/2019 10:30

As I said yesterday if the institutions are going to sell scruffy like this - then there's no reason why this can't go low 2s imho - st James place has been doing well last few days so this is afhp centric

[jrr1] 27/9/2019 10:25

must be polar or merian reducing there stake again.

[ronwilkes123] 27/9/2019 09:42

Another wave of selling it appears today - odd, odd share

[ronwilkes123] 26/9/2019 09:54

In December ?

[jrr1] 26/9/2019 09:14

dont think we will see low 2 pounds but who knows with this one....

im looking at 3.75 upwards based upon decent results...