Fletcher King Investors - FLK

Fletcher King Investors - FLK

Best deals to access real time data!
Level 2 Basic
Monthly Subscription
for only
Monthly Subscription
for only
UK/US Silver
Monthly Subscription
for only
VAT not included
Stock Name Stock Symbol Market Stock Type
Fletcher King Plc FLK London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 47.50 08:00:05
Open Price Low Price High Price Close Price Previous Close
47.50 47.50 49.40 47.50 47.50
more quote information »
Industry Sector

Top Investor Posts

tomboyb: Last cash element was just a tad over 3mill around 3.1 - Market cap around 4.2mill - New big investor to come -
norbert colon: Hi blue. Yes still here thanks. I have put a couple of comments on twitter re: share price strength which is somewhat surprising given economic / market headwinds but as we all know this is a well run and managed business. The sale of a further SHIPS vehicle will be good for investors and perhaps that has sparked some interest. There is still the chance that the Board look to sell the business as they don't really need/want to be listed and someone might be interesting in buying the listing and doing something with the shell.Happy to hold, collect the divi and await any news flow.
norbert colon: http://www.cityam.com/254060/asian-investors-have-poured-over-15bn-into-london-property?platform=hootsuite
norbert colon: AXA given go-ahead by investors to build 22 Bishopsgate, a 1.4 million sqft office development. Major, major boost for the City post-brexit.
norbert colon: My view is that as an investor, if you are not happy about something then speak to the Board and if you are still not happy move on as there are plenty of other opportunities. I was very unhappy about Board pay at Norcros (NXR) and hence sold - problem solved; similarly I have avoided WYG (even though I like the niche offering) as I just don't like the Boards apparent underlying greediness. FLK has been a very good investment for me to-date and I plan to remain a Shareholder until such time as the story changes. Seasons Greetings to all.
longinthetooth: Wonderful set of results only marred by the directors approach to their own remuneration packages.Special Dividend and its timing clearly a device to pacify unruly shareholders!All shareholders need to accept this is a private fiefdom hiding behind a quasi listing which is tantamount to a matched bargains market.As any sophisticated investor will appreciate the Capitals property market whether commercial or residential is NOT a one way ticket and is in all probability in the advanced stages of a bubble.The Provinces will not be able to fully compensate for any tangible downturn in the South East.
norbert colon: Bisi The divi was 0.75p in the HY for 2012 and 2013 and then in 2014 they hiked it to 1.5p. At the last AGM the topic of dividends was discussed i.e. hiking it and then cutting it and the point was made that investors would prefer a smooth / progressive dividend policy rather than up and down like the proverbial yo-yo (special divis excluded of course). The 1.0p for 2015 is the BoD continuing to be conservative with their cash management although I agree that they could easily have left it the same at 2014 given the strong balance sheet. I suggest you raise this to the Board for their comment.
norbert colon: Investors may be interested in my brief commentary on the London Commercial Market from the WTM AGM today: http://uk.advfn.com/cmn/fbb/thread.php3?id=2267090 Also some interesting commentary from Deloitte: hxxp://www2.deloitte.com/uk/en/pages/real-estate/articles/crane-survey.html My perception is that concerns over the London market need to be listened to, but at present there is no specific cause for pessimism. I look forward to seeing the HY report which should be out in the next week or so.
profdoc: Hi, Yesterday's AGM was very interesting. I've written a report on the meeting, but it is 1557 words so ADVFN are not keen on me publishing it here (they prefer it at http://newsletters.advfn.com/deepvalueshares/). Anyway here is some of it: David Fletcher and the other directors warmly welcomed the four shareholders who turned up to the AGM yesterday. They were very willing to discuss the important and intellectually challenging issues facing the business. So for about an hour we probed many of the dilemmas that come with managing an organisation such as Fletcher King. (By the way, it turns out that the board have been reading what I’ve been writing on the company – so they have probably also seen the bulletin board comments made by others.) Is the London commercial property market near to the top of a bubble? This is always an extraordinarily difficult question to answer – except, of course, with hindsight. But there are straws in the wind. There is a post-election lull in the lettings market. Also yields are approaching record lows. Or was that 2007 yield levels? (which might be the same thing, I’m not sure). Whatever it is, prices are high. On the other hand, rental growth for smaller office suites has been going great guns over the last 2-3 years. This fits with the evidence of good demand from both tenants and office buyers in the performance of the Leadenhall Street property in SHIPS14. A key point of hope is that the supply of new offices is not as great as in the lead up to past peaks. The people around the table had seen a few London property cycles and, I could be wrong, but I sensed a consensus that we are getting close to midnight here for speculators betting on rising prices, where all turns to pumpkins and mice for those who do not get out before the clock strikes. However, not everyone in the property game, or those supplying services to those investing in property, needs a rising market to make a living (for example, we’ve done fine in Leicestershire with a flat market). There are many working at FK who collect fees for looking after clients (collecting rents, doing rating appeals, valuations) whether the market is in an up-phase or is down. I pointedly asked what profits were like in 2009 and 2010. In both cases revenues were in the ballpark of £3m and underlying profits were made. This is a very conservatively run company, strong enough to cope with recession. However, the icing on the cake for a business like this is say when a number of banks ask for FK property valuations so they can lend to investors keen to buy, or when fund managers (e.g. pension funds) are enthusiastic about investing in London property and need various services, or when investors are keen on piling money into SHIPS for FK to charge a management fee. Other issues discussed: The dilemma of paying enough to retain rainmakers. How much to invest in SHIPS? Dividend policy? Growth through acquisition? What about other routes to growth? Quality of management? Glen
longinthetooth: Recent posts all very interesting and tell it like it is!I too have followed FK over the past 15 years,twice building up stakes approaching 1.5%,and during that time nothing much has changed other than an increase in the level of cash held.Interesting that during this period DF has not added to his shareholding despite long periods when the share price has languished at 25p.Obviously given his grip on the company he does not need to take that risk.District & Urban seem to be a passive rather than activist shareholder so far as I can tell otherwise they could easily have been a catalyst for change.FK always seem to go by convention when it comes to dividend cover(2x) and have been known to pass the dividend even with their cash pile.I suppose a return of capital to shareholders remains a possibility although only when DF is ready to go!Exposure to the commercial property market in London allied to fickle Chinese investors,poor liquidity and the boards scant regard for shareholders leads me to the conclusion that the shares are fully valued for now.
ADVFN Advertorial
Your Recent History
Fletcher K..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210729 20:08:35