Frp Advisory Share Discussion Threads

[aspex] 23/7/2013 08:14

On track?
We hope so. A reasonable trading statement with some more information in September.

[pj 1] 13/5/2013 17:31

The previous week ended with the Insolvency Service's statistics for the first
quarter of 2013, which were better for debtors, and unsecured creditors, than
for insolvency practitioners. The likes of Fairpoint can heave a mild sigh of
relief that IVA numbers have started to recover after two years of decline – if
you believe the seasonal adjustment then they are 10% up on the previous
quarter – but the number of company liquidations has continued its fall so
specialists like Begbies Traynor are running very hard to stand still and any
progress is one part down to the decline of competitors for every two parts
from their own efforts

[battlebus2] 26/4/2013 14:09

Cazenova still buying now holding 14% taking up what Standard life etc have sold.

[tom111] 16/4/2013 18:53

Exactly battlebus2 they will no doubt be looking for other fish and need the cash

[battlebus2] 16/4/2013 18:33

They did say they sold as turnaround specialists ,as that job has been done and we are now into growth phase.

[tom111] 16/4/2013 18:25

Thank you felix

[felix99] 16/4/2013 17:35

Well good luck - if they sell there always has to be a buyer on the other side.

I just hope those buyers can get out in size when they want one day. Good luck Tom I have said my piece - I shall check in again in 6 months perhaps.

[tom111] 16/4/2013 17:00

And yet another big buy 3% just announced lol,Stop knocking this company felix and go play somewhere else

[tom111] 16/4/2013 16:35

I also see they have been snapped up by other parties.lol

[felix99] 16/4/2013 16:19

I see Hanover have sold out and CEO sold quite a few shares as well. Seems to have dampened the appetite of the buyers now the insiders all selling up lol.

[tom111] 04/4/2013 15:55

Nice to see an increase in holding by Miton Group to over 10%

[battlebus2] 02/4/2013 11:00

And new highs again this morning :))

Fairpoint ("FRP") is a consumer financial services business
providing services to financially stressed customers. It currently
has three principle operations: Individual Voluntary
Arrangements ("IVA"), Debt Management Plans ("DMP"),
and Financial Services ("FS") – specifically, Claims
Management and short-term Lending. The company aims to
become the UK market leader in money management
solutions.
In May 2011, the Office of National Statistics stated that
unemployment was on a downward trend. A consequence of
this trend was that FRP's target market was thrown into
upheaval, with the number of personal insolvencies and IVAs
declining markedly. The average value of new IVAs also
dropped, as creditors accepted proposals from less indebted
customers. FRP swiftly adapted its strategy, diversifying its
revenue streamby driving growth in its DMP and FS divisions.
Simultaneously, it reduced its cost base and streamlined its
core IVA business.
The H1 2012 interim results serve as evidence of the success
of the measures. PBT stood at £2.1m, (2011: £2.1m loss).
Group revenues increased by 19.5% to £14.1m, with IVA
revenues contributing £8.7m, or 61.7% (2011: 73.7%). The
nascent DMP business improved its revenues by 11.5%, while
the FS division impressively grew its revenues 338.1% yoy, to
£2.6m. At the same time, group gross profit margins for the
period were 47.9% (2011: 28.0%), and administrative costs
were likewise decreased by 14.2%.
Despite the adverse market conditions, FRP is confident of
being able to sustain the good progress made in H1 2012. An
exceptional income of £3.0m from a VAT refund has largely
contributed to a net cash position of £1.6m, even after an
interim dividend pay out of 1.95p (up 11.4% yoy). With the
enlarged £13.0m banking facility, we are confident that FRP
will be able to maintain its progressive dividend policy, whilst
also preserving its historically robust dividend cover

[battlebus2] 26/3/2013 08:03

New highs this morning :))

[paulypilot] 25/3/2013 13:12

Hi,

I spoke with Fairpoint Directors on their conference call last week, and was impressed. Have bought a little bit of stock myself. I covered Fairpoint today in my usual daily small caps report here, for anyone interested:


Regards, Paul.

[battlebus2] 23/3/2013 11:49

Mention in Shares mag this week-Yield to Fairpoint's attractions
Small cap debt advice solutions specialist offers secure dividend prospects
Income investors can have faith that debt advice specialist Fairpoint (FRP:AIM) will continue to pay a progressive dividend. The £45 million cap declared an increased distribution for the second year running at last week's (14 Mar) finals.

[coolen] 20/3/2013 18:15

The 5m deal was done at 103p, a touch below the market price at the time.

[battlebus2] 20/3/2013 17:51

Well Cazenova happy to take the 5 million.

[red army] 20/3/2013 15:03

The chart is suggesting a big rise after 109p

[felix99] 20/3/2013 11:11

sell while you can not when you want - with that kind of holding and the liquidity of FRP. Good motto for peeps.

All I can say is that Hanover have halved their holding and Henderson are selling like billyo down so that tells you that they are thinking of selling at least and selling what they can whilst the FRP performance figures flatter and suck a few Inst in.

They will get a special divi etc but then find they are locked in to a declining share price at some stage as performance turns down post PPI is my prediction. When though that is anybodies guess .................

[joan of arc] 20/3/2013 09:43

Clearly he doesn't see a way for the value of the company to increase much from here.

[pj 1] 14/3/2013 16:21

Which gives a very steady Historic, current and future P/E circa x7

Nice dividend as pointed out

Will the market re-rate ?

[jeff h] 14/3/2013 16:13

Our forecast for the current year remains £8m pre-tax, leading to eps on
the reduced capital of 14.5p and dividends of 6.0p. For 2014 we expect a
further rise in pre-tax to £8.5m, eps of 15.3p and dividends of 6.4p.

.....is from Equity Development after todays results and is what PJ1 is referring to.

[pj 1] 14/3/2013 16:00

Equity

eps estimate 2013 14.5p, 2014 15.3p

EDIT EQUITY!

[felix99] 14/3/2013 15:26

oh no question they have the firepower to find a new business model post PPI or to buy growth but personally I am not a fan of companies that use funds to buy growth via acquisition. KBT is one that springs to mind !