Just perverse. If FTSE 100 is down nearly 3%, a major driving factor being fear of another lockdown and the knock-on effect on the Economy and businesses, why is FRP also down? Bizarre. |
Intriguing acquisition of (profitable) JDC Group. Surprised there hasn't been more positive reaction. This is precisely the kind of action that will accelerate value, boost earnings, achieve synergies and increase market coverage/penetration. |
"FRP Advisory Group plc, a leading UK professional services firm specialising in restructuring advice, is pleased to announce the acquisition of the JDC Group. Consideration compromises cash, founder deferred consideration and the issue of new ordinary shares for a total of £5.3 million plus a further payment contingent on the net assets of the JDC Group at completion of the transaction."
looks a useful acquisition |
Significance of the above story (whatever the outcome) is that yet again, a high profile businessman (Philip Day is a well-known entrepreneur in the Fashion sector) has chosen, amongst the more established competition available, to use FRP Advisory. |
Wednesday 9th September 2020 14:15 BST
Sky News has learnt that Philip Day, whose Edinburgh Woollen Mill Group (EWM) ranks among Britain's biggest private companies, has drafted in advisers to field enquiries about some of its best-known assets.
Sources said on Wednesday that EWM had received expressions of interest in at least three of its brands, including Jacques Vert, from a number of "international investors", including at least one in China.
They said that Mr Day had sanctioned the appointment of FRP Advisory to field those enquiries but emphasised that he was not actively looking to sell any or all of the three labels. |
Added today.
Probably famous last words, but there seems to be support at this level and with a yield of over 3% and plenty of scope for growth & grabbing market share from some of their less nimble competitors, considered this a reasonable time to add. |
Interesting article, despite the ridiculous opening paragraph - given the business they're in, the good performance is at least in part BECAUSE of, not 'despite' the economic uncertainty! |
Bet as Brexit worries start to resurface in September investors will be keen to add a few again. |
tipped as a buy in the IC today. |
Ummm, the 3mm PBT is for the 2 months since listing. FY PBT is forecast at 16.4mm rising to 18.9mm. |
Each to their own, but I'd have thought there are easier candidates to short than a niche, growing, specialist, dividend payer at over 3% yield, poised to be one of the few companies in the market to actually benefit near term from the Covid-19 situation.
I think I'd instead tend to look for a company perhaps saddled with debt, maybe with an unproven or speculative (or outdated) business model that's going to face difficulties in the current uncertain market? Probably a few of those around? |
PBT of £3m when the market cap is £280m+ puts me off, especially without a very bullish outlook or significant revenue growth expectations. Pity, because I was really holding out the last few months and expecting a higher PBT number. Closed my long position this morning to break even and now debating if it is a potential short. |
Bluemango - spot on, is this sector you won’t find bullish outlooks on failing businesses! All good here. I think £1.30 is full value and take so e off the table at those levels. Strong hold, BEG looks compelling value at low 80’s and profits here went over there. Great sector to invest in for the next 12 months (sadly) |
Even if that were true, they would only be delaying the inevitable (& for a minority of cases) by a matter of months or even less. Governments cannot prop up failing businesses long term and nor should they; a Conservative government knows that better than anyone despite their current desperate measures. |
 I think I called this spot on, my real worry here is not the company, but the government.
They will cheat as long as they can, to prop things up, thus, preventing 15% of companies to going bust in the near future.
My last post back in May.
sunshine Today18 May '20 - 14:09 - 300 of 384
It appears that more than one investor got the PE wrong, at least it’s now in the open. It shows that some so called great financial research sites, are rubbish without the human touch. For the reasons posted earlier I now no longer hold shares in FRP.Today the shares stand in the odd couple of pence below the stocks all time high and up from its 72P low. I think the company over time will thrive but with just 16% growth forecast and the government about to probably mess up the long established insolvency laws the case for investment has changed.I do hope those that have invested since I created the thread have done, and continue to do well. They should all be in profit.I hope to do as well with my next investment SYME where the shares have fallen 70% since the IPO 8 weeks ago.
Those have have the time can look then up on Proactive Investors. I like what they are doing, news since the IPO has been good with more due in June.
Finally good luck here,I am moving on,and will no longer post on this board |
A slight surprise was seeing the 'cautious optimism' comment at end of Chairman's statement. This could have been worded far more aggressively imo, but perhaps given the business in which they're operating, this might be regarded as unseemly? |
I was expecting more from the trading update from 1st May until now. Think it will do well towards the end of year but a slower burner |
On a simple, crude multiplying up from the eligible period for the dividend, you arrive at 4.3p for next year assuming no growth. Higher than the Midas estimate and a yield of 3.4%. |
BEG is 35% property services whereas FRP is pretty much 100% insolvency/restructuring. Also FRP has a much stronger balance sheet and their organic growth rate is 2x BEG.
I hold both. |
Yes. Both BEG and FRP will have weak first halves, but H2 and particularly FY21 should be exceptionally good. |
Odd initial market reaction to good set of results. Dividend within a whisker of amount previously flagged and clearly once the dust settles and furloughing ends there will be more work for them. |
Trucking along nicely. In advance of tomorrow |
Hoping to hear details of first dividend in couple of days' time. Midas back in May was forecasting 0.7p dividend for the last financial year, rising to 3.9p next year. |
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