Homeserve Share Discussion Threads

[grahamite2] 01/6/2012 18:58

Citywire has an article today saying Neil Woodford is adding. Might be worth a small punt then, but this misselling nonsense has hurt the banks badly so I'm not sure.

[kristini2] 23/5/2012 17:40

fsa, a year, these guys will drag this on for longer than a year. I guess they cannot fine them much as they have no way of paying. Maybe an attachement to earnings?

As ever closed my short too soon

Mas, you still fancy these as a buy?

[salpara111] 23/5/2012 17:29

Now that they have the FSA hanging over their heads for potentially up to a year they will struggle to make any ground.

[masurenguy] 23/5/2012 12:27

I agree goliard - Invesco sold under 1% of their holding, with their residual remaining at just under 21%.

[goliard] 23/5/2012 11:54

I think it is morelikely that Invesco are balancing their books on this rather than actively buying / selling as those transactions are too small for them.

[superstardj] 23/5/2012 11:46

Re: Post 559, they're selling now!

[kristini2] 22/5/2012 17:11

directors of a company 'economical with the truth', never!!!


No provisions for future cost of reviews, what? credability issues with these accounts and do they have reserves to put aside?

[the ballcock] 22/5/2012 17:11

salvage value of 3p

[imastu pidgitaswell] 22/5/2012 16:59

They do - always follow the cash and the cash generation and use look pretty good but as it has never traded at a lower level, and it has dropped nearly 30% on the day, then you have to say that we're missing something. Something quite big.

I'm not that brave in the current climate, and I'll happily stand aside - even if I read the accounts more carefully and identify more areas of concern I'm inclined to think they're being economical with the truth.

Maybe that's unfair of me, but I don't see a need to rush in.

[undervaluedassets] 22/5/2012 16:19

What is the panic here?

Numbers look rather good.

[the ballcock] 22/5/2012 13:44

i rang up me broker about hsv, oh dear, better not to post

[kristini2] 22/5/2012 13:24

if a PI like me can call this correct, what are the likes of invesco doing with all of their resource to hand?

[superstardj] 22/5/2012 13:21

I bet Invesco feel sore have bought and bought and now holding 21%. Your money in their hands!

[kristini2] 22/5/2012 13:15

too son to tell, looks to be weakening again

[the ballcock] 22/5/2012 13:05

rang up me broker, he says the only thing being served is bankruptcy

[sanks] 22/5/2012 10:58

Hi nobby ones..let me know if my level 4 poodee poodaa target of 12p is helping
Its a no brainer..i just want some of you thick ones to know that.
Sanks



Sanks 23 Feb'12 - 19:35 - 516 of 554 edit
Can't understand why its not a penny stock yet!
I have a vision, a 12p target vision.
Sanks

[kristini2] 22/5/2012 10:50

ek has not mentioned this in his diaries so i feel he may not have and probably will be reluctant to discuss, simon.............

[lennonsalive] 22/5/2012 10:06

Simon, did you hold out on your short here?

[imastu pidgitaswell] 22/5/2012 09:35

Incidentally, re the UK problems, they have made provision, and have not spent much against it. What they said was they are not expecting to make further provision in the current year.

"The GBP24.2m one-off charge of addressing the issues in the UK include our estimated cost of re-contacting and, if appropriate, compensating customers who may have suffered any detriment as a result of the way in which complaints have been handled or their policy purchased. In addition, there are redundancy and reorganisation costs, costs related to reviewing and improving our controls and governance and sales and marketing materials and the Ofcom fine. At the end of 2012, we had incurred GBP3.2m of actual expenditure, with the remaining GBP21.0m expected to be spent over the next 12 - 18 months."


But that doesn't mean they won't have to...

[imastu pidgitaswell] 22/5/2012 09:25

I'm following this, but it is such a gamble.

Who knows what the FSA will be like - usual pathetic 'customer can't be blamed, compensate them with a new house because they're too thick to be held responsible for their own actions' approach or something proportionate.

In terms of ongoing business, a screaming buy. But...




Be a bit wary with the EPS - there is one-time gain of £50m included, but also a (one-time?) cost of remedying the UK screw-up of £24m+ and the switch in France from 50% to 100% ownership ergo higher operating profit inclusion. But lowering UK tax rates, overseas growth, and presumably increasing (from 2011 levels) UK business will all help. Difficult to say what 'ongoing EPS' is, but it is in a pretty low multiple. And in this case, those earnings do indeed translate into cash generation.

[bobsidian] 22/5/2012 09:22

Seems like the share price is being hit twice with the same newsflow.

Even on the lesser adjusted EPS, the share price is now on a P/E of less than 7 times current earnings. Interesting at just how technically oversold the share price currently appears to be, Technical rebound imminent ?

[salpara111] 22/5/2012 09:17

Not invested but have to say that I am a little surprised by the negative reaction to the results.
I guess having the FSA hanging over your head is not a good situation to be in....just ask CPP!