Debts.Co.Uk Share Discussion Threads

[currypasty] 26/3/2007 07:42

no reason for the price to have halved

[jailbird] 26/3/2007 07:37

2111,

lookin good! cannot see any problems here

[twentyoneeleven] 26/3/2007 07:28

Debts.co.uk PLC
26 March 2007

For release at 07.00 Monday March 26th 2007

Debts.co.uk plc

Interim Results for the 6 months to 31 January 2007

Debts.co.uk plc is a leading provider of a range of solutions, including IVAs,
debt management programmes, bankruptcy and secured loans or second mortgages, to over-indebted individuals.

HIGHLIGHTS

• Revenues up 63.3% to £5.0m (£3.0m in 2006)

• Gross profit up 60.9% to £3.8m (£2.4m in 2006)

• Operating profits up 28.7% to £1.3m (£1.0m in 2006)

• EPS up 28.5% to 4.69p (3.65p in 2006)

• Currently processing 1,064 IVAs expected to be completed within the next
8-10 weeks

• Increase in the number of Insolvency Practitioners to six (four at
flotation)

• Infrastructure significantly improved following move to new office
locations in Chesterfield and Borehamwood with operational efficiencies
starting to show which will lead to a stronger performance in the second
half of the year

• Acquisition of Neville Eckley now fully integrated and performing ahead of
expectations

• Debtcare, our debt management business, showing good growth in client
acquisition rate

• Scarlet loans, our secured loan business is performing well and has
recently commenced its own advertising campaign

[jailbird] 21/3/2007 10:45

eaglet have just increaded their holds by 2%

RNS Number:3824T
Debts.co.uk PLC
21 March 2007

Debts.co.uk plc
(the "Company")

Holding(s) in the Company

The Company was informed on 19 March 2007 that Eaglet Investment Trust PLC,
through HSBC Global Custody Nominees Ltd, hold 975,000 ordinary shares in the
Company. This represents 5.01 per cent. of the issued share capital of the
Company which bear voting rights.

[cambium] 14/3/2007 11:42

LONDON (AFX) - Debts.co.uk PLC, the individual voluntary agreement (IVA)
arranger, said its progress has continued into the first half of the current
year and that it will see strong growth in the second half.
The company said it will continue to look at ways of diversifying its
business offering and added that, in light of resistance to IVAs from some
lenders, it is taking steps to ensure that that any changes in the timing of
cash flows to the business do not have a material impact on operations and
business plans.
Debts.co.uk said it looks forward to the future with "great confidence" and
that it expects the uncertainty in the IVA market place will shortly be
resolved.

[twentyoneeleven] 03/2/2007 08:37

Plenty of press today regarding yesterday's 'record' insolvency figures...

Insolvency at record high in debt-torn Britain (Times)


Bankruptcies hit record level as debt reaches crisis point (Independent)


National debt crisis worsens with home repossessions on the increase (Mail)


Insolvencies hit new record high (Guardian)


400 go bust every day as debt hits home (Telegraph)


and plenty more here ...

[vapourtrail] 02/2/2007 18:16

I agree 21/11 the HSBC & Northern Rock say they will not accept less than 40p in the pound.I believe DETS are one of the few who are offering above the industry standard of 25p in the pound. According to Pat Boyden at Pricewaterhouse Coopers the increase in the number of IVAs will not be as great as in 2006-I would say that depends on the Bank Of England's decisions on interest rates...Either way it looks as though the minnow in the pond may be better placed than most to weather the storm.It is not individuals or banks who decide on bankruptcy anyway,that's the job of the courts.

[twentyoneeleven] 02/2/2007 14:36

Analyst - 2 Feb'07 - 14:19 - 322 of 322


Er no, the banks have said they won't be accepting IVAs so much in future and if they do will be on far less favourable terms and reduced commissions. This sector is finished.

No, that's not quite what they've said!!! The banks themselves want more money back than they've been getting, but have not said they will not be accepting IVAs in the future! It may force 'some' companies to lower their fees, but with the ever increasing number of IVAs being taken out, they'll have more business to compensate!

[analyst] 02/2/2007 14:19

Er no, the banks have said they won't be accepting IVAs so much in future and if they do will be on far less favourable terms and reduced commissions. This sector is finished.

[twentyoneeleven] 02/2/2007 13:19

Definitely johnsoho! Playing on the negativity surrounding the sector at the moment IMO! The latest insolvency figures released this morning though show IVAs at a record high and this will be picked up in all media channels over the weekend ... should help to lift the sector next week IMO!

[johnsoho] 02/2/2007 13:12

Just one share transaction reported so far today, a buy of 10,000 shares.....and the mm knock the share price down by 4.5p.....mm's fun and games?

[ddav] 31/1/2007 09:48

What does Lucy know?

[dave108] 30/1/2007 19:02

A nightmare at the moment but this one seems to have most upside when the dust settles

[nobel2005] 30/1/2007 10:32

She's rubbish anyway

[ollie6] 30/1/2007 09:38

I THINK LUCY FARNDON,THE DAILY MAIL FINANCIAL EDITOR,DOES NOT LIKE DEBTS CO UK,VERY MUCH.THERE IS ANOTHER THOUGHT PROVOKING ARTICLE ABOUT THE DEBT MANAGEMENT INDUSTRY IN TO-DAYS MAIL.IT CANNOT BE MUCH FUN HAVING SHARES IN THIS SECTOR

[analyst] 29/1/2007 16:54

Shares in several debt management companies have slumped after two of them issued profit warnings on Friday.

The companies specialise in arranging individual voluntary arrangements (IVAs), a form of insolvency.

Debt Free Direct and Accuma admitted that some creditors were now refusing to agree some of the IVA proposals proposed on behalf of their debtors.

Shares in Debt Free Direct were down a third, while those in Accuma were down by about 20%.

Shares in Debtmatters were about 30% lower while those of Debts.co.uk fell more than 9%.

An IVA is an alternative to bankruptcy, under which people come to an agreement with their creditors, typically banks and other lenders, to have some of their debts written off and repay the rest over a number of years.

A few months ago the IVA business seemed to be a growing market.

Debts.co.uk, for instance, told investors last October that business was booming and it expected soon to be processing 500 IVAs a month, earning a large commission on each one.

However, if creditors decide to adopt a harsher attitude, for instance by pressing for bankruptcy or demanding that IVA firms cut their own fees, then the business model underlying these companies could be damaged.

Debt Free Direct blamed its short-term gloom on increased advertising by its rivals and what it called "creditor posturing" for a slowdown in the growth rate of new IVAs.

Accuma warned of a lower-than-expected level of new business, blaming "increased resistance amongst a small minority of creditors which is impacting IVA approval rates".

Both Debtmatters and Debts.co.uk said that despite the increased competition and the experience of their rivals they were confident their businesses had a robust future.

The last couple of years have seen a sudden growth in businesses offering IVAs as a way for people to escape their debts.

Widely advertised on daytime TV and in the press, they have encountered considerable criticism from various quarters.

Earlier this month, the Office of Fair Trading (OFT) wrote to 17 IVA companies telling them to stop publishing false claims in their adverts, for instance by suggesting that people could write off up to 90% of their debts through an IVA.

Debt counselling charities have suggested that some people have had IVAs arranged for them when it has not been appropriate - for instance, if people have too little continuing income to make any reasonable repayment of their debts.

And in the past year several banks have become vocal critics of the apparent ease with which some debtors can escape part of their debts by putting forward an IVA proposal.

Their increasing popularity has led to the UK's High Street banks writing off several billion pounds of bad debts between them, often built up on credit and bank loans.

However, the authorities have pointed out that an IVA is a voluntary agreement and that no lender is compelled to agree one.

[currypasty] 29/1/2007 09:28

any sellers this morning were well stitched up by market makers then !

[johnsoho] 29/1/2007 09:14

NOT A PROFIT WARNING.....some GOOD NEWS. Just released today:

We are pleased to report that trading for the first six months of the year has
been up to the Board's best expectations and in line with market forecasts.
Volumes continue to grow and we have completed the transfer to new larger
offices in Borehamwood to handle ongoing growth. Similarly we have completed the
move to new enlarged premises in Chesterfield and, as a result of rigorous
advance planning, these moves have been handled without any disruption to our
business.

Debts.co.uk is proud of its historic record of paying around 42% to creditors
which the Directors believe to be at the high end of the level of recovery and
well above the benchmarks being suggested. Similarly, current records show in
excess of 90% of our cases completing. In the light of the current debate
regarding dissatisfaction among creditors, we believe our performance will help
us to continue to work in accord with creditors. We have furthermore always put
great emphasis on ensuring that our advertising is fully realistic and not
liable to the type of criticism and complaint being voiced more recently by
certain parties.

We fully support the attempts to bring greater regulation and a transparent
framework into the IVA industry which we believe will work to the advantage of
companies such as Debts.co.uk who already practice to the highest standards.

Debts.co.uk can trace its roots back some 13 years and thus the Directors
believe that the Company has considerable experience in reacting to changes in
demand. Debts.co.uk has always been proponents of the offering of a wide range
of potential solutions to debtors, not just IVAs. This gives the Company a
broader and more defensive income spread as well as acting in the best interests
of debtors.

Given the expansion of our facilities in the first half and the continuing
growth we are seeing, our results will show a strong bias towards the second
half. Meanwhile, whilst not currently experiencing any margin pressure, the
economies of scale and efficiencies of our new offices provide a degree of
protection should pricing come under any pressure.

Despite the negative sentiment surrounding the sector and the specific problems
unveiled by some of the Company's competitors, the Board remains confident of
the outturn for the year.

[cambium] 29/1/2007 09:12

Thers your T/S

[eoc74] 29/1/2007 09:00

And the board have nothing to say on this?

[aatw5295] 26/1/2007 22:02

E0C74 You were right ! it prompted a trading statement from DFD. NOTE This news was after market hours and one could anticipate further damage to the share price of Debts and indeed across the sector come monday.
A trading statement from debts is now not only overdure its critical, otherwise the majority will throw in their hand (whats left of it) ....... then what are we left with an opportunity? ...
A bullish trading statement right now from Debts would really help and begin to establish them as new kids on the block, with mussel, in this increasing competitive marketplace that's obviously becoming tough even for the bigger players.
in respect to share prices, I was once told to never catch a falling knife! but then i guess the art is catching it without getting cut?.

AATW.


Debt Free Direct Gro Debt Free Direct warns meeting 2006-07 market forecasts will be 'challenging'


LONDON (AFX) - Debt Free Direct Group PLC (DFD) has warned that meeting
market forecasts for full-year 2006-07 will be "challenging" due to increased
advertising by rivals and comments by creditors.
DFD said it had brought forward its third quarter trading statement after
the badly received update by Accuma Group earlier today.
However, DFD said it believes that market expectations for 2007-08 are
"entirely realistic."
DFD said its advertising performance in November and December showed signs
of reduced response rates and January has been weaker than expected, results it
put down to "a dramatic increase in competitor advertising."
The group has subsequently increased advertising spend to maintain volumes,
"albeit at a higher cost of acquisition."
However, given the lead time in placing advertising, DFD said it will not be
possible to place sufficient advertising to maintain the forecast call volumes
in February.
DFD also said that creditor comment in recent months has impacted on
confidence in the valuation of IVA stocks, adding that changing creditor
criteria for acceptance of an IVA is casing cases to fail earlier in the
process.
DFD forecast relations with creditors improving in the future.


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[vapourtrail] 26/1/2007 13:01

Spot-on 21/11! This will blow over,besides DETS are slightly different in as far they are also dealing with more corporate IVAs & appear to have an (as yet unknown) interest in Germany or at least in their financial services sector. Debt in Germany is slightly different due to their collective bargaining agreements as regards pay with the unions & many Germans rely on quarterly pay increases & run overdrafts rather than rack up credit card debt. All the same its still debt & someone has to deal with it! Very positive about DETS, more so than the other IVA companies.