Fletcher King Share Discussion Threads

[bigbigdave] 10/10/2005 09:14

Anyway this is bound to turn out OK coz Robbie likes them................
....................................................................?

[cockneyrebel] 10/10/2005 08:54

give it time Rivaldo - goes up like a rocket on news - someone was buying on the AGM too so they heard something there to make them keen.

CR

[rivaldo] 10/10/2005 08:05

Well, this is frustrating! I suppose you have to put it down to smaller company illiquidity.

They're eligible for your ISA/PEP since they're fully listed with no apparent intention of moving to AIM, and they have:

- M/Cap of £4.54m (8.81m shares at the current 51.5p price)
- Cash of £1.92m!
- 3p final divi
- Historic P/E ration of 11.5 (no current year forecasts yet)
- Confident and optimistic outlook
- Strong trading across all divisions
- The one underperforming division has been exited
- Remarkably clean Balance Sheet

The P/E stripping out the cash is revealing. If you strip out the cash and related interest (net of tax), you get a post-tax profit of £324,000 on a £2.62m m/cap, or a historic P/E of just over 8.....

[rivaldo] 04/10/2005 12:37

Nice 50,000 share buy at 55p...

[bigbigdave] 26/9/2005 15:17

Thanks to CR for pointing these out some months ago.
Do struggle to find things for the ISA.
Toyed with PIC, AMT................ Sold BUR at a fiver ! ah well, I'll get me coat.

Look like this could be a real winner.

[rivaldo] 26/9/2005 14:46

Robbie Burns has given FLK a plug on his frequenttrader web site today talking about the virtues of patience. With only around 4.6m shares in free float it wouldn't take a lot to see the price rise much further.

FLK achieved 4,46p EPS last year, up from 2.49p EPS. In last year's H2 they achieved 2.67p EPS. There seems to be some seasonality, but FLK should be on the way to at least 5p EPS this year. And they have around £2m of cash (against a £4.7m m/cap) to play with....

[peladon] 26/9/2005 13:27

Don't know about any of the others - but the 6000 was a buy, not a sell.

[cockneyrebel] 26/9/2005 13:00

yes, must be keen!

How potentiall chaep are these to the likes of DTZ and SVS? Half the PE?

And then there's a decent divi on top.

CR

[rivaldo] 26/9/2005 12:13

Well, the statement came out with no update so I remain very confident.

And someone was willing to pay 58p for 10,000 shares - nice :o))

[cockneyrebel] 26/9/2005 09:53

looks like the AGM was pretty upbeat or someone was told something there.

MM's had to buy 2.5K this morning - can't be any stock around imo.

CR

[rivaldo] 26/9/2005 08:45

Good timing jwe!

In an e-mail conversation a while ago FLK confirmed to me that if there's no AGM/trading statement then it means everything is going as previously stated. Since there's been no AGM statement I'm pretty confident in believing that the optimistic outlook in the finals still therefore applies.

[jwe] 26/9/2005 07:48

Just added a few,couldn`t even get 10k online so took 5k.MM`s look short of stock with a 2.5k MM buy!!

[rivaldo] 24/9/2005 16:21

Yep, it's about time FLK started another run, and it wouldn't take much. I don't suppose anyone went to the AGM? It'd be good to know how the investment fund is going.

[cockneyrebel] 23/9/2005 15:13

25k buy and a tick up - someone heard something good at the AGM imo.

CR

[cockneyrebel] 19/9/2005 19:53

not me - but a nice AGM statement might burst this back into life imo

CR

[rossco] 19/9/2005 19:45

Is anyone going to the AGM?

[tole] 09/9/2005 08:36

Bodes well for FLK

Swip predicts commercial property boost
Friday 09 September 2005

[cockneyrebel] 07/9/2005 17:45

Sorry, a slip when I was typing!

Yes, when you put it like that they do look even cheaper! :-)

CR

[rivaldo] 07/9/2005 17:39

CR, I was talking about FLK's m/cap, not the cash! The m/cap is £4.8m, not £2.8m as you said in post 141. But you're right about the rest - by the interims cash could be up to £2.3m-£2.5m.

Which makes the current share price even more ridiculous.

[wjccghcc] 06/9/2005 21:16

Fair enough.

[cockneyrebel] 06/9/2005 19:55

No, it's £2m at the last results. I said £2.5m building in another £500K cash on the balance sheet which seems possible by the interims imo - didn't mean to make it look like £2.5m now - I posted £2m a post or two before

Ever the optimist! :-)

CR

[cockneyrebel] 06/9/2005 19:44

Mine are in an ISA WJCC - I'll cross the AIM move if and when it comes to it - may as well worry about being struck by lightening if that's the approach.

If these look like being on a PE of 7 and paying a 5% yield and they have £2.5m cash net then the punters won't worry about an AIM move that hasn't even been mentioned imo.

Those that bought at 40p in July did well not to worry about an AIM move - 40% gain so far?

CR

[mykai] 06/9/2005 19:17

looks like they have started to move just as i got back in at last i might have timed it right

[wjccghcc] 06/9/2005 19:12

You can if you're using ISA funds, CR, particularly with a stock as illiquid as this. I agree a move to AIM doesn't nix the share price in every case, but it certainly has a negative effect for many and you need to factor it into any investment decision.