Friends Share Discussion Threads

[oniabsta] 12/6/2014 15:48

What are the top 4?

[nigelmoat] 12/6/2014 12:21

Barclays Capital target price for FLG shares is 360. Likes yield of 6.5%, the fifth highest in the FTSE 100. Buy!

[rcturner2] 05/6/2014 12:44

Lovely uptrend developing and still a 6.6% yield at the current share price.

[philo124] 29/5/2014 09:22

Well done!

[rcturner2] 22/5/2014 08:06

Very happy here. Bought at 272p and already received a dividend of over 5% on that buy price.

[skinny] 09/5/2014 16:55

Amended - I knew it was a sell as well - long week!

[lord gnome] 09/5/2014 16:53

Yes - it was a sale.

[lonrho] 09/5/2014 16:46

think its a sale

[skinny] 09/5/2014 16:41

Edited :-)

[skinny] 09/5/2014 08:51

Its probably worth putting a link to the in the header for continuity purposes.

[skinny] 09/5/2014 08:49

Name should be corrected and the chart will (apparently) be ok in half an hour.

[scburbs] 09/5/2014 08:36

Thanks for the new thread RCTurner2.

The IMS is a bit of a mixed bag (not enough of a mixed bag to justify the share price fall from c.380p!).

There is a lot of detail in there, albeit they have not replaced the 10% VNB target they are dropping with a new target.

Good to see them reaffirming dividend policy.

For the moment I will continue to monitor from the sidelines whilst I think about whether/when to buy.

[skinny] 09/5/2014 08:32

I've just asked about that - bigcharts seem capable of doing this.

[rcturner2] 09/5/2014 08:28

Thanks Skinny. It opened lower, but seems to be making up the lost ground. I do wish advfn would carry over the old price properly when a new ticker comes along.

[skinny] 09/5/2014 08:23

Continued strong UK performance; cash emergence reconfirmed

Q1 2014 trading update

· UK division VNB maintained at £35 million, with strong APE growth of 42% to £201 million:
o Good performance in Corporate Benefits business with positive net inflows of £0.2 billion and VNB growth of 33% to £4 million. Good auto-enrolment experience, with 187 schemes enrolling in the quarter contributing to 70,000 net increase in scheme members, regular premiums received up 6% to £468 million;
o Strong performance in Protection with a 33% growth in both VNB and APE to £16 million and £24 million respectively;
o Retirement Income volumes maintained at £15 million reflecting continued strong customer engagement and limited immediate Budget1 impact. VNB of £15 million (31 March 2013: £20 million) reflects expected margin pressure.
· Heritage is making good progress in preparations for the £12 billion asset transfer to Schroders and on the second phase of the with-profits reallocation programme.
· Discussions regarding potential sale of Lombard are ongoing, although uncertainties surrounding the potential sale have resulted in lower sales and net fund outflows.
· FPI's performance has been adversely impacted by continuing difficult market conditions for regular premium unit-linked insurance business throughout its regions. Re-platforming of new business on track for the third quarter of 2014, with the related delay in new product development constraining performance.
· Strong capital base with IGCA2 surplus of £2.3 billion, representing a coverage ratio of 239%.
· Group available shareholder assets of £897 million.

Recent market developments
· Significant impacts from Budget expected in the medium-term:
o Retirement Income: 50-70% reduction expected in annuity sales, excluding sales of annuities from vesting pensions with guaranteed annuity options, which are expected to reduce by c20%. We are refocusingRetirement Income on existing mass affluent customers from both Heritage and Corporate Benefits, with further enhancement of customer engagement and development of new propositions underway;
o Corporate Benefits: favourable impact expected. As the number 2 player in workplace defined contribution ("DC") pensions, with over £20 billion of assets under administration and around 2 million DC pension customers across the Group (estimated to hold 1 in 7 policies in the market), Friends Life is well placed to win in the retirement savings market; and
o no impacts on our strategy or customer centric approach in either the Heritage or Protection businesses.
· Pension charge cap proposals by DWP are not expected to have a significant financial impact on the Group's SFS as the negative impact of reduction in AMCs is expected to be significantly offset by the ban of commission from 2016. We estimate a circa £50 million one-off reduction in non-operating pre-tax MCEV profits in 2014, representing less than 1% of total Group MCEV.

· Friends Life is well placed to respond to the FCA legacy product review with the dedicated Heritage management team ensuring customers are treated fairly and provided with good outcomes.

Impact on guidance
· VNB will be adversely affected due to the implications of the Budget; therefore the VNB growth target of 10% per annum will not be achievable in 2014.
· Overall Group new business margin for 2014 expected to be broadly similar to that achieved in the first quarter.
· Cash generation is not impacted with £39 million uplift in UK and Heritage combined expected return in 2014 unaffected.
· Dividend policy is unchanged and we remain confident in achieving 1.3x SFS coverage, following which the Board will consider moving to a progressive dividend.
· The Group is taking proactive actions to capture the opportunities created by the regulatory and market developments to support its financial performance going forward.

Change of name
· Following shareholder approval received at the Company's AGM held on 8 May 2014, the Company has changed its name from Resolution Limited to Friends Life Group Limited. Accordingly the London stock exchange ticker has changed from RSL to FLG.

[in4themoney] 26/9/2007 17:11

new thread started under vphase epic fls

[sean caruana] 26/9/2007 09:45

I was informed that the shares would relist at 12p after consolidation.

[in4themoney] 26/9/2007 09:42

I was under the impression they were changing the name as well, maybe it changes on the 2nd when the shares are released, it might help the share price when thats done. the vphase website is kak as well, its got LII as the epic on that and shares are £11 each, if only

[ianbrewster] 26/9/2007 09:37

I assume that the 1 for 25 consolidation took place before the re-listing

Any ideas why they re-listed as Flightstore? I would have thought that it would have been easier (and less confusing) to change the co name while it was privately held and then come to the market as vPhase.

[in4themoney] 26/9/2007 09:33

fls can be put into advfn for price checks but is already taken for the discussion board, I will email advfn to delete it as it was last used apr 05 and finsbury are no more

[in4themoney] 26/9/2007 09:27

ime only 75% down

[ianbrewster] 26/9/2007 09:23

LSE web site lists Flightstore as FLS

[in4themoney] 26/9/2007 09:21

its come up on my barclays nominee account as fls but if you put that into advfn it comes up as finsbury life sciences, I think thats finished now so they are using that code, share cetificates come out on 2nd oct so until then I think its best to wait.

[dusseldorf] 26/9/2007 08:57

Is it th same ticker or a new one?