Frp Advisory Share Discussion Threads

[felix99] 08/8/2009 18:29

Nothing wrong with the stock or it's business model -just a persisteNt seller sitting there. Very frustrating !

[gogoneko] 07/8/2009 22:33

It seems to be an unloved stock this one so I was just posting stuff as it popped up in case anyone else was interested as it's not the most exciting share around. Nevertheless, by this time next year I'd expect a share price of at around £2 with eps around low-mid teens and a dividend resumption.

Another link :

[venture traveller] 07/8/2009 18:16

gogoneko, you look quite lonely in this thread, so I thought I would add a comment to help you out.

Watched the share crazy interview, and am impressed with the business mode.

I bought these a few weeks ago, on the back of director buys, but am holding beleiving that this company has great potential, especially if it can pay off it's debt. By the looks of it, that will be pretty soon, and then the profits will mount up.

[gogoneko] 07/8/2009 10:12

After an expected seasonal drop in Q1 '09 the Q2 '09 IVA numbers are nicely ahead of what I was expecting - if anything the IVA numbers are increasing at an increasing rate so it looks like FRP's revenues and profits will be growing for some time to come.

[edit: Personal insolvency at new record ]

[gogoneko] 07/8/2009 08:02

Insolvency figures due out at 9:30am today :



... and a BBC piece :

[gogoneko] 16/7/2009 11:43

... and again!

nurdin - 14 May'09 - 09:19 - 4 of 16

Directors keep buying..



As far as that Chris Moat interview suggests, they're generating wads of cash which I expect will be used as dividends rather than acquisitions once the debt is down to a couple of £m - maybe that'll tempt insti's to start buying in.

[felix99] 30/6/2009 08:42

yep - I think the cashflow is what will get people looking at it again. They will be throwing off huge amounts of cash to clear that debt

[gogoneko] 30/6/2009 07:48

Very nice trading update indicating continued good performance by the co. with plenty of confidence looking forward.

[gogoneko] 27/6/2009 17:05

Hopefully the chunky sales not long ago are part of the ongoing disposal by Capital Group (in which case perhaps they have "just" 600k left to dump!).

I had a quick look around for any news of relevance and all I could find was the following from just over a week ago which updates previous May news. The enhanced "free" sector partnerships sounds like a smart move for getting more business :

Fairpoint Re-Launches New Debt Management Plan ClearStart

[ ]

[nurdin] 27/5/2009 10:44

Nice 25k buy there...someones keen.

[fordian] 19/5/2009 10:21

I don't think you need to worry, this share is a steady riser and this represents a good buying op imo. FRP are steadily reducing their debt and by the end of the year should only have about £2 million of debt remaining.

Interestingly RLX have also dropped recently which probably represents a good buying op. They announce results in the next 2 weeks up to Dec 08 which helps gauge their progress. RLX have also repeatedly stated that they are looking at buying other players...

[gogoneko] 19/5/2009 09:41

I'm starting to think that unfortunately it's going to be a tougher job for the share to break 60p than I'd previously anticipated.

[gogoneko] 16/5/2009 10:54

I agree, I think that it would be a lot more acceptable to indebted people if they see that all their payments are going to go to the creditors, rather than having to also pay fees (especially upfront ones) to solutions providers. After all, it's the creditors who want their money back so it's right that they should chip in for the costs of retrieval. Adding more costs to the indebted person (in solution provider fees) seems counter-productive.

This was the original article [
] and at the end of it they talk about the TIX (".. which advises on 80% of UK IVAs on behalf of creditors" [ ]) and how they're trying to encourage a DMP equivalent - so this "external reform" does look likely to happen with creditors on board. Creditors will probably be reluctant initially as it'll cost them short-term due to the new fees to solutions providers, but they should ideally get long-term benefit in better overall repayment rates.

[markktm] 15/5/2009 15:48

I had this forwarded to me which was in the weekly news roundup from trade mag Credit Today. I've not seen anything else posted on this but this looks good news & a way of driving more volume through their DMP business if they can get the creditor support they talk about.

If they really belive in this then may be the reason for the directors topping up. I've topped up again today!!!!!


Fairpoint unveils new look DMP - 13/05/2009
Fairpoint unveils new look DMP

Personal debt solutions provider Fairpoint Group is today launching a debt management plan (DMP) that aims to improve returns to creditors and pre-empt external reform of the sector.

Through its ClearStart brand, Fairpoint will provide DMPs where a 10 per cent fee is paid by the creditors and 100 per cent of the consumer's payments are distributed to the lenders. This mimicks a system already used by the not for profit sector. To incentivise consumers to stick with the plan, ClearStart will also pay the final two contracted payments of the plan.

Fairpoint chief executive Chris Moat told Credit Today that the organisation has moved away from a high margin individual voluntary arrangement (IVA) model where thousands of pounds were spent acquiring each customer. He described the past model as "creating rather than servicing the market in financial difficulties". He added: "We need to beat the free sector in terms of pricing, structure and practices."

Moat said the emphasis on the free advice sector means many people who could go into an individual voluntary arrangement (IVA) or DMP are instead going bankrupt and returning next to nothing to creditors. He said the new DMP will distance Fairpoint from practices he said occur in the industry such as holding consumers in a plan for six months before then converting them to an IVA, effectively charging fees twice and wasting time for the debtor. Breakage rates for DMPs are also relatively high and plans can be 20 years long, said Moat. He expects the Fairpoint DMP to be eight to 10 years long.

"We would like the creditors to support us in the same way they do the free sector – it's a big ask but it allows the consumer to make progress with their repayments – the creditors we have spoken to have received it favourably," he said.

Typically, debt management plan providers charge one or two upfront payments and a monthly fee of 15-17.5 per cent. Not for profit providers such as the Consumer Credit Counselling Service and Payplan charge lenders a monthly fee and distribute all payments to them.

[felix99] 14/5/2009 12:53

lol the market turns south as recession jitters hit again and someone decides to sell the perfect hedge against an upturn not happening.

Directors piling in again too.

Heres some analysis I did. All comments constructive and otherwise welcome.



Soon be bargain of century if seller gets desperate

[gogoneko] 14/5/2009 10:37

It's a shame other institutions aren't buying, would've thought it would be a decent medium/long-term investment.

I think yesterday was just profit-takers sensing the end of the "recession rally"! ;)

[nurdin] 14/5/2009 09:19

Directors keep buying..

[gogoneko] 11/5/2009 20:25

Yeah! Finally we've left 60p behind (no doubt spoken way too soon, but what the heck ;) ). And nice not to see any organised selling into strength.

The only mention of FRP I saw this weekend was in the director's dealing listing section of the FT.

[hopperagain] 11/5/2009 17:34

Looks to me like a breakout situation in a dull market

[ihavenoclue] 13/3/2008 13:34

The share price isn't listening to you !!

[theophilus] 08/1/2008 07:10

I forgot that Debt free direct had a change of name and was relieved when I realised what had happened.

If this sector has sorted out its differences with the banks etc then there is a good possibility that this one could move steadily upwards.

It would also be useful if ADVFN could find a way to maintain info' on the 'delisted' companies eg those with change of nane at least for an interim period.

Cheers

Th