Fletcher King Share Discussion Threads

[soggy] 30/8/2005 15:37

To answer myself, there it is - 9191 marked as a ? but it's a buy.

[soggy] 30/8/2005 14:59

I've jumped in today too - bought £5k worth at 1.28, but it hasn't shown up yet. I do hope TDWaterhouse aren't screwing with me. They do have to actually buy them when they've confirm my order, don't they?

But even with CR's reminder of the divi, these look good. Anyone got a target medium term?

[rivaldo] 30/8/2005 14:25

Ta for the reminder - looks like someone was stirred into action judging by that 9k purchase.

[cockneyrebel] 30/8/2005 12:43

Buy today and get tomorrow's 3p final divi.

On top of that you get an historic PE of 12 and £2m net cash in a company with a market cap of £4.8m.

CR

[cockneyrebel] 21/8/2005 18:47

Hadn't thought of that Westcountryboy.

Cheap at 51p to buy net the divi ay!

Did everyone see this bit in CTO this week?

"However, we are now experiencing an upturn in the London commercial market, in both new build and fit out." Suggests that commercial property in London at least is getting firmer still and that should spill out or is already spilling out imo.

CR

[thecornishman] 21/8/2005 18:13

Hi WCB(100?)

Fancy meeting you here!

Have been thinking about a top-up myself, but that would move FLK to being nearly 10% of my portfolio and for such an illiquid tiddler, I'm not sure if that is such a sensible strategy. On the other hand, I still think the story looks good here and as has been the case for some months now, there is not much around that is appealing otherwise.

Will continue to ponder for the time being I suspect.

Very best

Dave

[westcountryboy] 21/8/2005 08:27

I wonder if Wednesday's opening 3p fall was actually the MMs getting the xd date wrong by a fortnight? I know this sounds silly, but stranger things have happened with smallcaps. When James Halstead announced a large special divi last year, the MMs didn't notice it had gone exdivi for the first 20 minutes of trading, thus giving some of us a nice 50p bonus (can't remember exactly how much it was) on an opportunistic sale.

Anyway, I took the opportunity to top up here on Wed.

[gswredland] 19/8/2005 11:21

is this a suckers rally?

[gswredland] 19/8/2005 11:21

what is L2 like chaps?

[tole] 19/8/2005 11:13

Wonder if Robbie dipped his toe back in...he was wanting a few more in his last update... ;)

[bigbigdave] 19/8/2005 10:58

Nice

y'never know Rebel, WHI might do this soon!

Like you say, patience.

bbd

[rivaldo] 19/8/2005 10:56

Didn't take long CR :o))

[cockneyrebel] 19/8/2005 09:52

Life in the old dog yet Rivaldo! :-)

I agree, a bit of patience here and we'll see some big spikes up along the way.

CR

[rivaldo] 17/8/2005 09:24

Patience certainly necessary here CR - ah, the perils of investing in small cap and illiquid companies....

The share sales resulting from option exercises haven't helped. But there's a 3p final divi coming up (ex-div on 31st August), and it would only take a little interest or one tip to stir things up and get the price moving.

The AGM is coming up in September - hopefully there'll be a trading update. The company is cheap on fundamentals and has a cash pile. And the long-term chart and uptrend still looks promising!

And it's ISA-ble too.

[cockneyrebel] 03/8/2005 14:57

yep, I also don't want to become a serial thread creator Rivaldo and it would be good to time a new thread when there's news/momentum ahead of some likely happening/event. Doing a thread after a couple of small director sells is probably not the most productive way.

Frauddy has his name to this thread so I guess the punters will pop their head in on that basis anyway.

I think this is one to be patient with - you need some good steady-eddies that are cheap in the port to help you sleep too imo.

CR

[lauders] 03/8/2005 14:34

Thanks for the feedback rivaldo.

Things are quiet here now the results have gone, but it should be a fairly safe company to invest in I would think. I shall have to keep an eye on the Fletcher King Howard website to see if anymore company names appear. Unfortunately there isn't any indication that I can see of when the site was last updated. Would help if they had that info.

[rivaldo] 02/8/2005 10:44

Thx for that Lauders - good spot. I think CR had volunteered for a new thread, but was maybe waiting for the IC or Shares Mag to pick up on the recent excellent results first, which I don't think they have yet.

Good to see the bid price picking up again.

[lauders] 28/7/2005 08:11

From the latest results:

-------------------------------------------------------

FLETCHER KING HOWARD

Our wholly owned construction services subsidiary performed well during the
year, increasing its profitability in line with expectation.

The business continued to work on a diverse range of projects and, during the
year, completed a £5.5m distribution hub for NYK Logistics and are retained on a
second phase which will start this year. One 50,000 sq.ft. and two 15,000 sq.ft.
freeze chambers were completed during the year for Baugur together with two
buildings totalling 350,000 sq.ft. in Manchester for L'Oreal. A £4.5m grandstand
at Towcester Racecourse is nearing completion.

Activity continues on a £10.5m medium secure unit at Northampton's St Andrews
Hospital and the company has been appointed for a further £10m development at
the hospital to start later this year.

Work in the education sector is strong and projects starting this year will
include a £9.4m extension to Northampton School for Boys and a £3.5m design
centre for Berkhamsted Collegiate School.

Work has started on a 60 acre development for Gefco's new northern regional
distribution centre, an £11m building for Hayley Conferences at Windsor and a
£4m warehouse in Cheshire for Seafield Logistics.

Agco's new £10m headquarters at Stoneleigh and Northampton Saints Rugby Club new
£3m stand will also be completed during the year.

The strength of our forward order book should ensure that we grow the business
in the coming year.

---------------------------------------------

Now if you go to the Fletcher King Howard website at you will see:

Re-branding and refurbishment of several Citroen dealerships, including Slough, Birmingham and Glasgow.

As this wasn't mentioned in the piece from the results above, perhaps we can take it that it is new? Not sure. Still good to see that Citroen are also a client of this part of the group.

Hozelock are also mentioned as are the Palace Theatre in Redditch and Howard Smith Paper.

Wasn't there talk of a new thread for FLK? Some graphs/charts would be nice if whoever it was that suggested it is going to follow through. Thanks.

[lauders] 23/7/2005 14:11

True rivaldo, but strong chance in my opinion. I think only Mr. Fletcher to go, which I hope doesn't happen, but we shall see. Do agree that it appears slightly odd that the broker did not place the shares as you suggest, but then perhaps it isn't so easy with this NMS?

It is down on the week for me, but I did buy in on Friday ;-( Maybe I should have waited, but I have some in my sights if we get much lower and I think all will be okay later in the year, plus there is the good dividend yield that I was interested in getting.

[rivaldo] 23/7/2005 13:26

Doesn't necessarily mean the other director will flog any Lauders. Still, I've certainly been wrong on this one - surely it would have ben more efficient to have got the company broker to organise the placing out of their shares immediately on exercise as is usually the case? They probably would have got a better price too!

The good news is that the price is still well up on the week, and there's still plenty of leeway as the shares are plainly undervalued imo.

[lauders] 22/7/2005 17:49

So three lots of options exercised by directors at 25p and two have sold part of their holdings. That probably means that one more lot is going to be sold and there may be more weakness. I bought today after ditching an underperforming share and will add if we go sub-50p. Not sure we will, but with a good dividend and buy and hold strategy I hope to be happy in a few months.

[jwe] 22/7/2005 16:30

Well there`s the 50k sell,however the price shown is 49p!!

[jwe] 22/7/2005 14:49

I would say the t-trade is definately a sell hence the fall.The bid ended yesterday at 57p so looks like a sell first thing,my guess would be one of the directors that have just exercised options at 25p.

[rivaldo] 22/7/2005 14:14

Robbie Burns' latest comment today is:

"My recent buy in Fletcher King I think will pay big dividends. I don't mind if it comes back a bit because if it comes down a bit more I would really like to buy some more!"

Difficult to tell - was that 50k T trade at 56.75p a buy or a sell? My instinct tells me a buy, but I suppose it could be the reason for the fall today (most of which is in the spread anyway).

[rivaldo] 21/7/2005 14:01

Cheers NT - have a plug for your site! For anyone interested there's NT's commentary on his Buy of FLK here:



OT : I'm thinking of following you into GYG since it's now fallen from your in price.