"The Board of Directors proposed a final dividend of 1.9p per eligible ordinary share for the final quarter to 30 April 2022 (2021: 1.6p)"
They're confused. It was 1.7p last year, 1.6p the year before. |
Significantly undervalued profitable company if anyone cares to browse.
PPC
"16p fair value" per share...
Current share price 1.25 pence.
Market cap GBP25 million.
Turnover last year GBP28.4 million.
Profit last year GBP3.8 million.
EPS 0.19 pence.
Turnover this year expected approximately US$45 million.
This company also owns 28% of ATOM, a listed green hydrogen and ammonia production company.
PPC
Pp. |
 https://masterinvestor.co.uk/equities/small-cap-round-up-pots-and-scans/FRP Advisory Group (LON:FRP) current economic environment is highly conducive to its businessOn Friday of next week, this business advisory group will be announcing its results for the year to end April 2022.And looking at the way the group's shares have been moving ahead recently, it seems that investors have been chasing the shares in anticipation of good news.With the way the economy appears to be kicking a number of the country's larger companies this group could well prove to be a major beneficiary of the current uncertainties.It offers amongst its multitude of services, debt advisory, corporate finance, mergers and acquisitions, restructuring, forensics and even pensions advisory.The market is looking for revenues for the last trading year to have risen 21% to £95.2m, upon which the group could have made some £23.3m (£21.2m) of pre-tax profits, lifting earnings to 7.8p (7.1p) and dividends up to 4.3p (4.1p) per share.For the current year analyst Peter Renton, at the group's brokers Cenkos Securities, is perhaps being too cautious in looking for only £100.0m in revenues, £24.0m profits, 8.0p earnings and a 4.7p dividend per share.He sees its net cash rising to £27.8m (£20.7m) by the March 2023 year end.Even so he rates the group's shares as a 'Buy' stating that the company has the appealing characteristic of being able to grow throughout economic cycles.The shares at the current 157.5p are 5p below their recent 162p peak, I feel that the group is really catching market attention now and they remain a very good hold. |
https://citywire.com/funds-insider/news/expert-view-restaurant-group-frp-advisory-tinybuild-and-xps-pensions/Marlborough: Downturn could boost FRP AdvisoryBusiness consultants FRP Advisory (FRP) could benefit from clients' restructuring and insolvency needs as tough economic times bite, say Marlborough fund managers Guy Field and Eustace Santa Barbara.The duo hold FRP in their £1.1bn Marlborough UK Micro-Cap Growth fund and in their latest update said it has been a significant contributor to performance in recent months.'The business advisory firm... rose following an encouraging full-year trading update, with revenue and profit expected to be ahead of market expectations,' they said.'Furthermore, the company could benefit from restructuring and insolvency initiatives on behalf of clients should the economic environment deteriorate.'The shares fell 3.9% to 161p on Tuesday, continuing to build on gains this year.More generally, the Marlborough pair said the prospect of 'structurally higher inflation' and the subsequent increase in interest rates are weighing on global growth forecasts. 'Nevertheless, we will continue to invest in companies that we believe can perform through the economic cycle,' they added. |
Riverman77 yes I totally agreed they are more into Mergers and Acquisitions.
I will just have to see how they preform on the results side.
I call all three the Vulture investments. Many small businesses are going to the wall.
High street sales will suffer because a lot of people started to use the internet during lock down.
They are fining shopping on the internet much easier now IMO.
ATB and thanks for your input. |
For K3C, worth pointing out that only 20% of earnings come from the recovery division (even though it accounts for around 50% of revenues). The rest is highly cyclical m&a. Therefore don't see them as a good play on this sector at all. |
Hi Sunshine Today. It took me a while to locate this BB thread.
Thank you for your input .
I know Geansey from another BB.
I hold all three shares in FRP,BEG and K3C. BEG is the best performer in my portfolio at the moment.
ATB. |
Riverman - FRP historically pre covid have traded around the 120’s so the rise to todays price is not that significant. For me the main differentiator is that BEG (property advisory) and K3 (M&A) both have a larger cyclical element. However i now hold all 3 so no debate from me!!! |
The beneficiaries at this stage of the cycle are BEG. Driven by the big increase in the small CVLs. That should knock through to MANO but there will be a shortish time lag. FRP are far more geared to the large size but much smaller number of administrations of the big companies (see the companies listed above for example). There is a lot of competition for that work. That is yet to occur but I have little doubt it will. K3C only have Quantuma and I am not convinced about them. The plays for me are: FRP, BEG and Mano (they cover the CVLs and the larger Administrations) in this space. All three top quality offerings and excellent management teams. DYOR as ever of course. |
You may be right, but worth noting that FRP had significantly outperformed BEG and K3C this year and was on a much higher valuation (and still is even after today's fall). Not sure there is any reason why it should be more highly rated than those 2, so don't feel the need to rush in just yet. |
This is a gift IMO as a 12 month hold. I’m in at £1.42, buy and forget. Already hold BEG and K3 but thought i had missed the boat here at FRP. Private placements quite often throw up nice opportunities. |
https://www.fool.co.uk/2022/06/02/2-top-growth-stocks-to-buy-in-june/FRP Advisory GroupWhat it does: Provides a range of financial services to business including debt advice.Price: 160p per shareBuying UK shares that thrive during tough times is a good idea. It's why I'm considering adding FRP Advisory Group (LSE: FRP) to my portfolio right now.The distress signals coming from British business are unfortunately becoming much louder. Latest Office for National Statistics data for example showed that 40.2% of small-to-medium-sized businesses have cash reserves that will last three months, or less.With inflation tipped to keep rising and consumer confidence sinking, the pressure on UK business is set to grow. Companies that provide debt advisory services like FRP could become very busy in the months ahead, and possibly beyond.This explains why City analysts think earnings at the company will rise 20% in this fiscal year (to April 2023). They also believe the bottom line will improve by an extra 17% year-on-year in financial 2024 too.Fresh government support for struggling businesses could hit new activity levels and put these forecasts in jeopardy. Still, as things stand today, I think buying this growth share could be a great way for me to diversify my portfolio and protect my wealth. |
Results due August. |
Rapid rise here at present, do any holders have views as to magnitude of possible dividend increase? |
Agreed. K3C in particular is mispriced |
Looking at today's price movements (FRP, BEG and K3C all heavily up) it seems that the markets have finally concluded that most of UK plc is likely to need refinancing or restructuring. These three stocks look pretty solid and sound investments for the medium-term given headwinds approaching. |
Looking at today's price movements (FRP, BEG and K3C all heavily up) it seems that the markets have finally concluded that most of UK plc is likely to need refinancing or restructuring. These three stocks look pretty solid and sound investments for the medium-term given headwinds approaching. |
Market distracted with BEG results, meanwhile, institutional volume continues through the books here following the breakout... |
2 year breakout above c133p resistance. Forward eps up 40% in that time. Could be a good rise on here. |
Cenkos research note:
FRP has released a very positive FY22E trading update in which it expects revenue would be £95.2m (+21% YoY; we had forecast £88.6m) and Adj EBITDA would be £25.7m – up 12% YoY and comfortably ahead of our £24.2m forecast. Given that the UK administrations market declined 22% YoY in FY22E (as Government support measures offered a temporary lifeline to many businesses), we see this as an excellent performance, which demonstrates FRP's resilient ability to grow throughout economic cycles. |
Nice, forward-looking all time high. |
 - Data from Begbies Traynor's "Red Flag Alert" points to a coming wave of business failures as the economy adjusts to the post-pandemic reality with Covid reliefs cut off and a rapid growth in inflation
The latest Begbies Traynor "Red Flag Alert" research, which has examined the financial health of British companies for the past 15 years, highlights the strain two years of extraordinary financial pressures have had on thousands of UK companies.
Helped through the pandemic and its aftershocks by state support, the report now reveals a 19% jump in the number of companies in critical financial distress with these measures cut off and costs spiralling.
The most recent County Court Judgements (CCJs) data revealed 11,673 rulings in March - up 179% on the monthly average for the previous two years - and the highest level in a single month for five years.
With companies struggling with rising inflation, coupled with the demands of repaying Government Covid support loans, there is now a growing risk of a wave of insolvencies affecting vulnerable British businesses. |
Breakout today. Let's hope it closes around 140p. It's about time FRP broke out of its c. 30p range. If it does, it would tie-in with analyst forecasts of 165p... and it could get there very quickly. |
Agree with the above.
Share price approaching all time high, well managed company, an economic outlook which favours the business, and an already decent yield. What's not to like! |
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