"The retailer has appointed restructuring experts FRP Advisory, which has declined to comment." |
Excellent results on all fronts. Of specific interest is increased market share in the Administrations market, where volumes are already 40% up on the preceding year. Given the state of the UK economy and interest rate challenges to business, it's hard not to see 2024 being a bumper year. |
Actually its tmrw |
Yes latest data shows Administrations are now strongly picking up. Interesting times ahead...with results due later this month I believe. |
Looking at Insolvency Insider Administration appointment data, it appears that FRP remain the largest appointment taker in the UK with increased market-share. |
Or just a reaction to the inflation / int rate decision - yield curve now significantly inverted, UK recession starting to be priced back in. |
No concrete news but this has risen strongly from 108p to 132p in last few days...something interesting could be afoot perhaps ?? |
Looking like a strong breakout from trading range. Next probable resistance around the 132-135 mark, but the fundamentals look very strong. Full year results due to be released on 26 July and it's hard to envisage a less than very positive trading statement given the economic situation. UK administrations are clearly picking up again. |
Could be at the very least a good trading op here (to c£1.40+)? Turns out the potential miss wasn't one after all and Cenkos have upgraded 2024. Price was just under £1.50 before that previous update. |
Looking interesting, can't decide between here and BEG |
L2 moving at last, more buyers then sellers |
Blimey that was a larger sell of over 500k today. Hopefully its now in the price. |
Hopefully that was the bottom in, surprised at the fast and sustained fall (maybe a forced seller?) and i am now reinvested here for the first time in a long while. I couldn’t justify the valuation for the past 12 months but at under £1.10 i am happy to be back as one to tuck away. Also bought back into BEG at £1.15 which has been range bound for as long as FRP has been overvalued! |
what i know for sure is that the UK stock market has been looking miserable over the last few months. That will likely lead to more insolvencies if anything? |
Still falling here. I wonder where the bottom will be / |
It appears that large volume increases earlier in the month are down to share options granted to employees on IPO being exercised and then tranches being settled to fund tax bills. |
New UK insolvency data released on Tuesday by the UK Insolvency Service. Feb 23 v Feb 22: Liquidations (SMEs - Begbies market) up 13%, Administrations (Larger companies - FRP’s market) down 1%.
FRP are also facing major competition from the Big 4 accounting firms who have spun off their insolvency arms, so they are no longer conflicted to do the big Administrations work.
DYOR of course but this has nuances. |
Aye. I've been watching this over the past few weeks. Just in for 10k worth first thing at 116 so happy with that. |
Joined him with a few this morning. Maybe a big overhang has been cleared, there was big volume at 110 late last week |
Big director purchase |
Still falling. Now below support of 120p . How much further will this fall i wonder ? |
Looks very close to the 120p support now. It has certainly fallen along way this year so far in a sector that was supposed to do well ! |
Retail_Rights: you make a very good point. It reads like they are preparing the groundwork in case they miss their numbers. Same I saw on RBGP who missed targets because M&A Advisory deals didn’t complete. My reading is that the M&A market is now very challenging.
On the LSE board someone pointed out that there have emerged some strong competitors in their core Administrations area that did not exist before their recent IPO. These came from the Big 4 Accountants spinning off their Insolvency operations because there was too much conflict with their Audit/Tax clients. FRP used to have this area sown up because they are not part of a bigger Accounting Group.
The high valuation has always been my concern with this company. PER is around 28 which assumes total perfection - especially in today’s market!
As ever DYOR of course. |
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