Gresham House Share Discussion Threads

[topvest] 07/4/2023 20:41

I've held this from the investment trust days. It's been excellent so far and there is a good chance that they will compound the valuation very strongly from here over the next 5-10 years.

[wsm812] 06/4/2023 15:28

A very flattering write-up in the IC today - expect a rise tomorrow....

[c3479z1] 30/3/2023 11:29

excellent divi increase, for sure and relatively confident outlook..
not sure Baronsmead is the best vct manager but Mobeus has an excellent record,
forestry getting much more competitive in the UK so international diversification probably wise.
opportunities apparent in battery storage it seems.

[ec2] 30/3/2023 10:14

Another very positive set of results today, they never disappoint:Div up 60% and 3.5x coveredAdj. operating profit up 34%Adj. EPS up 12%Share price has preformed poorly over the last year for no reason other than being pulled down by the general poor performance across smaller companies / more traditional asset managers. Had considered selling but think the share price may now have bottomed and will move back to reflect the continued good numbers.

[kalai1] 15/9/2022 17:16

Gresham House posted Interims for the HY ended 30th June 2022. Assets under management (AUM) rose 11% to £7.3 billion, net core income was up 61% to £37.2 million, adjusted operating profit up 91% to £13.2 million with adjusted operating margin increasing to 35%. Guidance was also solid, adjusted operating profit is expected to be at least in line with market expectations, currently in the range of £25.5 million to £26.3 million. The balance sheet is strong with net cash of £28.1 million. Valuation is average with forward PE ratio at 13.5x and PS ratio at 4.3x both mid range for the IB& IS sector. Dividend yield at 2.1% is a little stingy. The share price also lacks momentum and has been trading sideways for 16 months. GHE is a profitable and growing small-cap asset manager but it is not particularly cheap and there is no particular rush to buy just yet...

...from WealthOracle

hxxps://wealthoracle.co.uk/detailed-result-full/GHE/556

[ec2] 15/9/2022 09:47

Continuing to deliver with another excellent set of results out today. 91pct increase in adjusted earnings. 61pct increase in net core income. 15.5pct return on capital employed. 35pct operating margin. Added to my holding yesterday in anticipation of the good results.

[sphere25] 15/9/2022 08:30

Picked up a small few here trying to play this chart. This 800p mark is the bottom end and the price tends to bounce off here before spiking higher.

Stop under 800p if it doesn't work.

Highly illiquid one so not pushing the boat out.

It looks like they are going to beat forecasts:

"Adjusted operating profit expected to be at least in line with market expectations(4) for the full year to 31 December 2022"

I just wonder if that is enough to get a pop higher to lob into as per this range bound chart.

All imo
DYOR

[riverman77] 13/7/2022 09:24

Very under the radar and market seems not to have noticed this excellent udpate. Very well positioned given their focus on sustainable, alternative assets. As well as seeing strong investor demand, most of their assets also have a low correlation to wider markets.

[ec2] 13/7/2022 07:54

Shares are somewhat depressed at the moment brought down by the current overall market downturn, but today another excellent trading update. AuM up by a further 11% despite falling markets. The sustainable infrastructure funds run by GHE are the very much in favour asset class.

[melloteam] 22/5/2022 12:31

Mello2022, the popular three-day Investor event takes place on 24TH-26TH MAY at the Clayton Hotel & Conference Centre, Chiswick, W4. The breakdown of the three days is as follows:

Tuesday 24th May, 9am - 6pm - Mello Investment Trusts and Funds (WE ARE GIVING AWAY 20 FREE TICKETS TO THE TRUST AND FUNDS EVENT - THE FREE CODE IS FIRST20TF)

Wednesday 25th & Thursday 26th May, 9am - 6pm - Smaller Growth and Mid-Cap Companies (Tickets for 1 day are £115 and tickets for 2 days are £189. To get 50% off, use code MMTADVFN50).

Just to let shareholders and prospective investors know that GRESHAM HOUSE will be among the Trusts and Funds attending. There will also be keynote speakers such as Lord John Lee, Andy Brough, Rosemary Banyard, Clarke Carlisle and Gervais Williams.

For more information, please visit the event webpage: Https://melloevents.com/mello2022/

[topvest] 12/4/2022 09:13

A very positive update. The fundraising potential for GRID is enormous in my view.

[notbitcoin] 11/4/2022 22:43

52 week high and all time .

WHAT NEXT

[sarkasm] 20/2/2022 08:22

MIDAS SHARE TIPS UPDATE: Our battery storage tip Gresham House charges ahead

By Joanne Hart, Financial Mail on Sunday

Published: 21:51 GMT, 19 February 2022 | Updated: 21:51 GMT, 19 February 2022


The UK generates about 40 per cent of its electricity from renewable sources, such as wind and solar. Boris Johnson would like to take that to 100 per cent by 2035 and, with oil and gas prices going through the roof, an increasing number of households are likely to agree with him.

Gresham House is one of the companies helping to make Britain greener. A fast-growing investment firm, it manages £6.5billion of investors' cash, channelling much of it into areas such as battery storage, forestry, energy from waste and sustainable, vertical farming.

Midas recommended Gresham House in July 2020, when the shares were £6.28. Today, they are 41 per cent higher at £8.85, chief executive Tony Dalwood is more ambitious than ever and the shares should continue to motor.
Powering ahead: Midas recommended Gresham House in July 2020, when the shares were £6.28

Powering ahead: Midas recommended Gresham House in July 2020, when the shares were £6.28

Wind and solar energy may be good for the planet, but they are unpredictable. Being able to store surplus power in giant batteries is a critical part of the renewable mix and Gresham House owns and manages more battery storage farms than any other UK firm.

Today, the company has more than 15 sites across the country, capable of storing 425MW of electricity. But that will soar to 1.5GW over the next 18 months, enough to power 550 homes for an entire year. Gresham House also owns more woodland than any other UK firm, with 350,000 acres of forest – about the size of London.

The group recently bought another 62,000 acres in Australia. There is some forestry in Ireland too and more overseas deals are on the cards.

Trees absorb carbon dioxide, offsetting greenhouse gas emissions, and, handled correctly, timber is considered the most sustainable material in the building trade.

Vertical farming is another growth area for the group. A salad-producing farm is up and running in Staffordshire and a second site will be ready to go later this year. Based in Norfolk, this is expected to be the biggest vertical farm in the world, capable of producing more than 2,000 tons of leafy greens a year.


Other Gresham interests include waste from energy plants, digital infrastructure to improve access to good quality broadband and affordable shared housing, designed to mitigate the UK's housing crisis.

The group also manages several high-ranking private and listed equity funds and a number of venture capital trusts.

The mix has proved popular. In 2020, the company had about £3billion of assets under management and Dalwood had said he wanted to double that by 2025. Having delivered on his goal in less than two years, Dalwood has now increased the target to £8billion and should comfortably achieve it.

Results for 2021, out in early March, are expected to show a 53 per cent increase in profits to £18.5million, rising to £24million in the current year.

A dividend of 7p has been pencilled in for 2021, climbing to 8p this year. Dalwood is also keen to set out a dividend policy so shareholders know what to expect in future.

Midas verdict: With a focus on sustainable, green assets, Gresham House is in the right place at the right time and many of the group's assets should also hold their own in a more inflationary environment. At £8.85, the shares have already delivered rich rewards, but they should continue to gain ground. A strong hold.

Traded on: AIM Ticker: GHE Contact: greshamhouse.com or 020 3837 6270

[km18] 18/2/2022 13:55

...from last year...

Gresham House PLC is a United Kingdom-based specialist alternative asset manager. The Company offers a range of funds, direct investments and investment opportunities, including co-investment, across various alternative investment strategies. Its segments include Real Assets, Strategic Equity and Central. Current market cap is around £305m.

GHE today announced another sizeable increase in its AUM (assets under management) in H1 to £4.7b at end-June. (£4.0b. at end December 2020). This was a £761m increase or 19% growth in AUM over a 6-month period.  Of this increase £457m or 12% was organic. These are pretty impressive growth rates for both total and organic growth...

...from WealthOracleAM

https://wealthoracle.co.uk/detailed-result-full/GHE/25

[ec2] 26/1/2022 10:24

Taken advantage of current market weakness to top up. The trading update on 9th Dec was extremely positive giving rise to 11% jump in share price on the day. 7% of these gains have evaporated but as per the trading update the y/e 31 Dec results are likely to be very strong.

[newbold120] 15/12/2021 21:48

Any shares of performance fees and carried interests from the various private llp funds?

[mw8156] 15/12/2021 12:20

also has warrants, LTIP and share options... warrants are in addition to share options.

[ec2] 12/12/2021 14:27

Basic salary 375k, cash bonus 535k, deferred bonus 100k, pension 38k, other benefits 3k. I do agree the remuneration package is high, but has to be viewed in the context of the business.

[mw8156] 10/12/2021 16:11

comment elsewhere, Investors Champion, that the 'CEO paid 1m last accounts when operating profit was 1.9m' - does this result from the LTIP,share options and bonuses?...

may be necessary to remunerate the CEO very adequately in a growing fund manager wanting to attract talent though much of the success is due to the exceptional circumstances in forestry and renewables so divis for ordinary shareholders also should be important as they are the ones who provided the capital?

[ec2] 10/12/2021 10:18

Looks like good follow through in the share price again today. This is an extremely well positioned boutique asset manager for ESG trends. If the share price fails to recognise this going forward, I can see the Company being swallowed up by a much larger asset manager looking to beef up their ESG / renewables capabilities.

[seen_it_done_it] 09/11/2021 20:11

Nice late bounce with a small UT trade. Perhaps we'll see this back up to £9 again soon.

[ec2] 05/11/2021 09:08

I have been a little disappointed in these of late but then I logged into their capital markets day webinar yesterday and was most impressed. Their ESG focused investment strategies covering battery storage, renewables, forestry and vertical farming are spot on and very much aligned with current investment trends and tailwinds. I can see their strategies being very popular with investors, investment consultants and local authority pension funds. The webinar is due to be posted on their website and well worth a listen.

[dancerbrian] 27/10/2021 15:49

Discussion of the Mobeus acquisition on the EIS Navigator podcast httpS://www.hardmanandco.com/36-buying-mobeus-and-the-state-of-the-vct-market-bevan-duncan-of-strategic-equity-at-gresham-house-baronsmead/

[ec2] 10/9/2021 18:03

Some scaling back. Allotted 74% of my application. (I'm an existing shareholder, allocation may be different for new investors.)

[ec2] 10/9/2021 13:54

Point of note is that today's price rise is on very low volume. Will be interesting to see how it performs in good free flowing two way traffic.