Frp Advisory Share Discussion Threads

[eazymoney] 12/5/2020 13:16

JM65 no not revenue, I was taking £31M as an optimistic net profit for the year.

[discodave4] 12/5/2020 12:24

Ps apologies, only just read previous post 244 about annualising Rev for this FY.

[discodave4] 12/5/2020 12:09

I get about 8p eps for FY19/20 when assuming the Rev growth falls through to bottom line and deducting partner costs (flagged by poster neg) at about 35% (that's the big unknown for me, could be 40%). Take your pick what the rating is likely to be, IMO circa 10 to 12 (based on TTM), so a re-rating could be on the cards.Based on 2 months Rev since IPO this gives an annualised Rev for current FY of c £69m (likely to be low end as only +10% to last FY). Appreciate it's likely to be higher by year end (£75m, c 10p eps?), but is this decent value that's the million dollar question, based on BEG yes but will this be rated similarly given its a new listing?.Perhaps ST on here can offer his more expert view as I'm in the dark.

[jm65] 12/5/2020 11:26

Thought so :-)

[the deacon] 12/5/2020 11:23

"As a result, the Group expects to report revenues for the half year to 30 April 2020 of GBP31.8m, including revenues of GBP11.5m in the two months following the successful IPO."

[jm65] 12/5/2020 11:14

Isn't £31M for the half year?

[eazymoney] 12/5/2020 11:01

I get a PE of about 32 based on £31M earnings, dividend payout ratio of 70%, EPS of 4p?

[jm65] 12/5/2020 09:40

My very rough calculation (done in my head whilst trying to keep my distance from other travellers who didn't seem to be aware of what social distancing meant???...so these figures might be a bit out) was that a £1.25SP = PEG of around 0.64. As FRP is in a high growth sector I'm happy with a PEG of around 1 so I'll look at this again when the share price gets to around £1.95 DYOR etc etc etc and decide your own comfort levels :-)

[eazymoney] 12/5/2020 09:36

How did you calculate EPS?

[terry236] 12/5/2020 09:27

Thanks Pre, I’ve got roughly the same numbers. So was quite unsure why people are saying we are highly valued and valued higher than BEG. Also FRP has net cash, which I don’t believe BEG has

[pre] 12/5/2020 09:12

From LSE Thread:

Everoptomistic Premium Member

Posts: 18

Price: 127.50

No Opinion

RE: InterestingToday 09:15
This is a very good update.
looking at EPS at least 11.5p so sitting in a very modest 10x P/E
extrapolate last two moths trading to full year and FRP revenue could be £69 million. EPS probably around 13p so P/E of under 10x

Begbies on 2020 P/E of around 19.5x and 2021 around 16.5x (tho it may well beat current estimates)

if FRP traded on similar multiples (obviously a big if) then would be looking at a share price anywhere around 220p

id imagine a couple of broker notes will help, as its still very much under the radar.

[terry236] 12/5/2020 09:10

Question, why do people perceive FRP to be overvalued?

[rimau1] 12/5/2020 08:39

Eazymoney, i do agree with you but sometimes you have to pay for quality. How many companies out there in this environment can guarantee 10%+ YoY growth in 2020 and 2021. This is also rated higher than Beg for a number of reasons but justifiably so since its larger and gets the blue chip clients. Think of FRP as the Diageo of Alcohol!

[pre] 12/5/2020 08:39

an ahead statement and dividend too, they're bang in the right business area with administration on the increase, they will benefit significantly imv - they've already announced a number of high profile appointments such as debenhams and carluccious...

[eazymoney] 12/5/2020 08:31

Think the share price has got a bit ahead of itself here based on my calculations (obviously making assumptions on a few numbers).

[investographer] 12/5/2020 08:23

Not interested about Boards expectations, a lesson learnt from the past.Why not compare to market expectations?

[moormoney] 12/5/2020 08:07

🚀🚀 and we’re off!

[elpirata] 12/5/2020 07:52

stunning trading statement & divi to boot

[sunshine today] 12/5/2020 07:42

FRP”S mission is to prevent administrations, if at all possible. Good advice, though expensive for companies in trouble, is often the best solution.

[sunshine today] 12/5/2020 07:18

Outstanding update. 16% growth before what the BOE says could be the worst recession in 300 years. The number of companies that could unfortunately go bust in the next 12 months is estimated to be 50% to 1,000% more than the comparable period.

[rimau1] 12/5/2020 07:07

Excellent trading update this morning confirming what we all knew, trading ahead of expectations, yes this is rated higher than Beg but for good reason.

[sunshine today] 11/5/2020 09:35

Also both stocks very strong at the open not sure if tipped or research notes out. Must be a reason .

[sunshine today] 11/5/2020 09:33

FRP we don’t yet know their policy , BEG had its update out last year at this time.

[devonking] 11/5/2020 09:31

Where have you seen the trading update info, Sunshine? I can't find anything confirmed for either Begbies or FRP. Thanks.

[sunshine today] 11/5/2020 08:41

BEG and FRP strong opening this morning. Trading updates due this week.