B.p. Marsh & Partners Share Discussion Threads

[peter27] 23/7/2015 18:26

@correintes You are right - I'm glad to see you are reading with an enquiring mind!
@Skyship The general principle is that they will stay in as long as management want them or someone comes along with a spectacular offer.

[skyship] 23/7/2015 17:39

peter - thnx for that. Presumably no mention of any asset sale then?

[corrientes] 23/7/2015 17:36

Thanks peter27.

PS Maybe you mean 'not happy' with what they see - second last line, first paragraph ?

[peter27] 23/7/2015 17:30

I went to the AGM yesterday and suspect that I was the only 'outsider' although they made me very welcome. There was no trading statement but Brian Marsh was very happy to take specific questions which were farmed out to the various directors responsible. I queried some of the positive valuations in the annual report given that some of the investee companies are showing a loss and/or negative capital. In some cases they have the benefit of recent trading figures which show considerable profitably which should enhance these positions fairly swiftly and there are others where they have a capital protection in that repayment of their investment will rank prior to (typically) the management being repaid in the event of a sale or winding up. There are also start-ups which lose money initially. They are long term investors and five years would be normally regarded as a minimum period but as long as there is a good return and growth is seen they are content to stay invested. A close eye is kept on the monthly management figures submitted and they do not hesitate to get involved if they are happy with what they see.
Share buy-backs are kept under review as is the size of the dividend as the company is cash rich and can see some £6m in the bank given the Hyperion payment which is nailed on for next year. They have been asked to pay the next interim dividend before 5 April in view of the budget.
AS ALWAYS DYOR!!

[skyship] 23/7/2015 15:44

True - two year's of going nowhere fast. Still, value will out at some stage; and with the NAV statistically now likely to be c228p (216p x 105.5%), a good portfolio sale followed by higher buybacks should move us up to those 170p-180p targets by end 2015.


free stock charts from uk.advfn.com

[corrientes] 23/7/2015 09:12

Judging by share price inactivity subsequent to yesterday's AGM, it has to be assumed that it was a short formal affair. Surprised that, prima facie, share price hasn't really moved for a couple of years now.

[hawks11] 21/7/2015 17:28

I added to my collection today Panmure Gordon have a target of 173p and with something good in the AGM who knows.

[skyship] 17/7/2015 16:46

Quite right - AGM Weds. 22nd July...

[peter27] 17/7/2015 15:11

There may be more news at the agm next week. With companies of this size which rely on their investments to make progress, you can only expect some real price action on news or a tip.

[skyship] 17/7/2015 14:22

Certainly a series of abrupt steps, usually press comment or RNS (Ints & Finals) related. However I expect the next step up to be on a revaluation after a portfolio sale - likely to be Besso.

[yf23_1] 17/7/2015 13:36

Shareprice action is ridiculous. Highlight the value and it leaps, then it drifts back to within a fewpence of where it started. No wonder it can't get any momentum, its like groundhog day all over.

[skyship] 28/6/2015 18:29

These went XD for the 2.75p dividend on Thurs 25th June - PayDate 24th July.

[strathroyal] 03/6/2015 16:41

This appears to be the deal to which ST is referring re Besso's valuation - hxxp://www.rfib.com/news/press-releases/article/rfib-agrees-terms-for-sale-of-majority-stake-to-calera-capital

[skyship] 03/6/2015 13:52

A well-researched follow-up to his earlier articles; with some very tasty numbers crunched over the Besso, LEBC & Summa portfolio holdings. He has raised his target to 180p.

Certainly going to run these.....

[elmfield] 03/6/2015 12:49

Hardly surprising as this is great value.

[cwa1] 03/6/2015 12:41

Just been puffed by the IC's Simon Thompson(tho' don't have access to full article myself):-

[spittingbarrel] 02/6/2015 14:55

I added at 1.50 as well, it seems a little safer in this volatile market we've got at the moment.

[skyship] 02/6/2015 11:46

Hi Alan - pleased to see you too think it merits the MAX...

[elmfield] 02/6/2015 09:54

If ever a share had reason to break out,
This has.

[alanji] 02/6/2015 09:51

I was one of the buys at 150p increasing my holding to my max 10% allocation

[skyship] 02/6/2015 09:39

A bit slow motion in this case; but nevertheless the chart shows a classic breakout followed by the pullback to test the break - now moving ahead with the trend. Break 147.5p and next pause at 160p...


free stock charts from uk.advfn.com

[skyship] 02/6/2015 09:10

Barrie Cornes - insurance analyst at Panmure Gordon. Thnx for that.

Good to see some buying at 150p. Suggests we will soon and finally be seeing the end of the 140s...

[cwa1] 02/6/2015 08:28

For the little that it is worth over on Twitter:

2/5 @BarrieCornes reiterates BP Marsh & Partners BUY following 2014/15 results "another strong performance" $BPM #BPM #PanmureGordon