Brewin Dolphin Share Discussion Threads

[moneybags] 18/2/2011 15:18

The share price was around the £2.30 to £2.40 mark before the credit crunch.
They will get there again.It just takes time.
In fact, If inflation hits in like I think it will this year(Our UK offshore island is already 6% inflation and we are usually a fore runner for U.K. mainland inflation)so I expect that will mean that investors will have to pay more for the shares as money becomes worth less as 2011/12 goes on.
We shall see......

Regards, Moneybags

[philo124] 18/2/2011 09:27

GOOD MOVE; THEY ARE MOVING TOWARDS HIGHER MARGIN FEE BASED BUSINESS.
Decent yield, P/E around 10.

[its the oxman] 17/2/2011 13:16

sold a chunk 181p - got to stop doing this - if it dips at all I will buy them all back - still hold plenty though - 200p not far away now.

[philo124] 31/1/2011 08:53

BOUGHT TODAY

[lfc4ever] 26/1/2011 14:20

Brewin Dolphin has issued its Q1 interim management statement, which again
highlights funds growing well ahead of the market (discretionary funds up 7.9% against
benchmark 4.7%). Our full year forecast AuM (£25.3bn) is nearly achieved (£24.8bn),
but we are leaving our numbers largely unchanged at this stage. Total revenue (for the
14 weeks) is up 16% on the (13 week) prior year quarter, and is 25% of our full year
forecast. The quality of income is better than our forecast with more investment
management income and less corporate finance income in the mix. There will be a
£6m levy by the Financial Services Compensation Fund (2010: £1m).
AUM beats market (again) and potential upgrade to figures
Discretionary funds were up 7.9% in the quarter to £15.1bn. Of the £1.1bn increase
£0.7bn was market movements and £0.4bn inflows. The annualised inflows are nearly
10% of opening balances showing BD is being very effective at gaining new funds.
Advisory funds grew 5.4% in the quarter with inflows of c 5% annualised.
Revenue
Total revenue is 25% of our full year estimate but the mix is betted. Underlying
investment management fees were up 32% (22% adjusting for extra week), while
Corporate Advisory and Broking was down 13%. The former is ahead of our
annualised run rate but the market's performance in Q1 was also ahead. At this stage
we will not be changing numbers, but the bias is clearly to upgrades.
Financial Services Compensation Scheme – interim levy
The FSCS will be imposing a levy of £6m regarding the failures of Keydata Investment
Services, Wills & Co and other investment intermediary firms. We have included this in
our statutory estimates but excluded it from normalised profits and earnings above.
Valuation: Fair value c 200p
Our Gordon's growth, peer relativities and sum of the parts models generate an
average of around 200p, c 25% above the current level.

[its the oxman] 26/1/2011 10:17

bought back all the shares i sold at 180p for 162p ready to collect div in a months time - cheap with market at 6000

[its the oxman] 12/1/2011 17:05

indeed and I sold a few more 180p - just a shame clst can't play ball as well

[moneybags] 12/1/2011 12:40

Quite pleasant in fact.

[lfc4ever] 12/1/2011 11:54

this is a very jolly little run.

[moneybags] 11/1/2011 14:47

It's been a while since it was £1.70

Regard , Moneybags

[its the oxman] 11/1/2011 14:17

sold a few 170p

[its the oxman] 04/1/2011 14:24

breaking through 160p again!!!

[nellie1973] 02/12/2010 20:08

Tipped in press today

[rockafella2] 02/12/2010 16:10

New note -

[its the oxman] 01/12/2010 10:01

yep very good figs - no rise in div perhaps only disappointment, thought they might of nudged it up a smidge just to send out a bullish signal. plenty more growth to come though and still lagging the market a bit i feel.

[moneybags] 01/12/2010 08:14

What a great set of figures.

Regards, Moneybags

[its the oxman] 29/11/2010 13:35

figures this wednesday - should be nearer 160p min I hope

[volsung] 15/11/2010 15:52

A dolphin is not a fish though

[moneybags] 04/11/2010 13:01

Truly delightful

[volsung] 04/11/2010 11:48

Very pleasant

[lfc4ever] 04/10/2010 15:29

edison update

Brewin Dolphin has issued its full year pre-close trading statement (to 26 September). Discretionary funds growth ahead of the APCIMS index for the full year was 10.8%, a further, consistent gain from the 8.5% for the nine months reported to end June 2010.
Fees will be set by market levels on 5 October, and commissions were said to be close to the strong Q409 levels. 2010 consensus forecasts rose after the July IMS, and we expect them to do so again on this announcement. Unsurprisingly, the share price reaction has been strong.
Upgrades to revenue forecasts likely
Detailed revenue information is not given in this release, but there may be upgrades to revenue estimates from both commissions (close to strong Q409) and the level of funds. We had forecast £13.2bn of the wider-margin, discretionary funds against the £14bn indicated today. Advisory funds at £9.2bn were in line with our forecasts.
Forecasts
We have increased 2010 revenues by 2% to £249m and 2011 by c 4% to £274m
assuming no change in margin. We have also increased costs meaning that statutory pre-tax profit estimates have increased from £32.4m to £33.5m (2011 from £44.0m to £45.2m). Adjusted pre-tax estimates rise by similar amounts to £41.5m and £50.5m for 2010 and 2011 respectively.
Our forecast for the modest corporate advisory and broking unit is for a small profit in the second half (less than half that reported for the first six months). Given the 13% drop in March-June revenues reported in the July IMS, following especially weak market trading conditions in May and June, there is modest downside risk in this area.
Valuation
Our Gordon's growth and sum of the parts models continue to generate a price of
around 175p to 180p, c 25% above the current level.

[wessie] 01/10/2010 15:37

Could not resist banking the profit and sold out at 140 this morning. Will keep a watch as I think it might gradually drop back in the coming weeks. Very good yield, so hope to get back in at lower price.

[lfc4ever] 01/10/2010 10:10

seem to have got my timing right on this one- i thought the break above 130 was significant and bought earlier in the week