Frp Advisory Share Discussion Threads

[gogoneko] 31/3/2010 19:43

A couple of weeks old, but now generally available :

[gogoneko] 23/3/2010 12:34

Yeah! Whenever I read recommendations I think of Anil Bhoyrul and James Hipwell, although in the end they weren't so lucky!

[felix99] 23/3/2010 11:39

better to be lucky than good as they say Gog lol

[gogoneko] 23/3/2010 09:47

It looks like a few have taken what's been written as a pointer, unless there's been a different recommendation today. Hopefully they've checked the full story out for themselves before buying rather than relying on a glossy summary.

[felix99] 22/3/2010 19:18

Technically, a company trading below its book value, should be able to shut down, sell its assets (generating £45.5m in this case) and return the excess funds to shareholders. In reality, this isn't quite as easy as it sounds. I mention it really just to highlight the fact that this company looks undervalued.

What a tosspot !

Great research that £45m of assets lol - which technically you can cash in tomorrow if you closed the company down - but in practice its not as simple as that -as a little rider !!!!

FRP has £11m goodwill ( like to see that being cashed in on a close down !!! ) and £26m of debtors ( most of which would be collectable over 5 years !). Oh and er he has ignored liabilities in his demonstration of cheapness to asset values.

So to summarise if you have a company with assets of £100m (£50m of which is goodwill say ) and liabilities of £750m with a market cap of £10m its dead cheap because its trading at 10% to the book vlaue of its worthless assets. who needs to worry about the goodwill or the liabilities eh?

This guy has stumbled on a wee gem one can only assume by luck rather than judgement looking at that horrible cut and paste and the addition of some totally inaccurate bits of extra script he has added to try and sell the story to his punters.

It will get rerated as it throws off huge amounts of cash but I doubt the discount to book value of assets will have anything to do with it rofl.

[gogoneko] 19/3/2010 12:43

Hmm! 300k trade is quite a chunky one and the largest for some time.

Fingers crossed that today's trade and the 100k on Monday are signs of accumulation by the larger institutions chasing some divis for the years ahead.

[gogoneko] 17/3/2010 13:06

For whatever it's worth : HB reiterating a BUY recommendation to £1.06

[gogoneko] 16/3/2010 18:56

Analyst results announcement here :

Growth Company investor appears to have mentioned them again as well today (but no idea what they've said).

[gogoneko] 16/3/2010 11:56

Very reassuring set of results. Nothing spectacular, no fireworks, but it looks like there's a strong and stable platform for delivering improving performances over the next 2/3 years at least.

The 1# uncertainty appears to be the regulatory aspect and what impact, if any, it'll have on sector operators. Logically any review outcome should favour the responsible operators and it looks like FRP is in such a position.

Hopefully any analyst reviews that follow from today's news will be positive.

[felix99] 16/3/2010 08:46

Well they did just shy of 10p so current p/e under 8.

Case Acquisition costs falling all time , very favourable economic backgorund for them and competition much reduced .

All the fee income will be snowballing up so cashflow will clear all the borrowing this year I bet.

I reckon they must do 15p this year so got to be worth north of £1 . Assuming the big holders don;t decide ot sell of course.

[moreforus] 16/3/2010 08:41

good results - all that matters at the end of the day

[aspex] 16/3/2010 08:36

How far will it go based on these very bullish results?

[gogoneko] 05/2/2010 09:51

Looks to be everything on track for debt sector operators.

[investinggarden] 26/1/2010 11:11

Add recommendation from Growth Company Investor

[gogoneko] 12/1/2010 16:20

GrowthCompany appear to have flagged today's trading update as well on their website but I'm not subscribed so no idea what it says.

[moreforus] 12/1/2010 10:05

guess proves patience and research can be rewarded....

[gogoneko] 12/1/2010 10:02

WorthlessBrennan retaining their buy recommendation ( ) after this morning's news - target price of £1.03

[gogoneko] 12/1/2010 09:00

There's a more subdued and restrained atmosphere amongst FRP investors :)

It's taken longer to reach this level than I'd been anticipating but it's definitely been worth the wait. If you look back at the DFD share price during '03/'04 you see a very steadily increasing price and then suddenly in late '04 it goes from about 80p to £1.60 in a short space of time - which is what I'm personally (and optimistically of course!) looking for here over the next month or two as confidence improves with improving results and the tipsters slowly catch on!

[moreforus] 12/1/2010 08:38

gog excellent results up 15% and only you posting does no one own FRP?

[moreforus] 12/1/2010 07:21

fingers crossed that benefits the entire sector given frp is the bellweather...

[gogoneko] 12/1/2010 07:13

Excellent trading update this morning with confirmation of improving profitability, the resumption of a dividend, and good outlook for 2010.

[markktm] 07/1/2010 11:12

Venture Traveller.... Fairpoint are one of Shares Magazines pick of the year shares in their portfolio.

Together with the fact that debt being steadily paid down & looking to resume paying ap dividend has nudged this up.

Needs good positive news and continuation of trading improvement & this will be a nice steady climber....... competition driven out of the market - they are the clear market leader & a very strong position to build from

DYOR ..... (I hold by the way)

[gogoneko] 06/1/2010 09:42

Yesterday evening's news is decent in that it looks like FRP have already got ideas to start putting their cash to other use (apart from dividends) once the debt is repaid - and on good terms to shareholders as well. I'm happy with that.