Jarvis Securities Share Discussion Threads

[alter ego] 15/7/2021 18:25

thx folks very helpful. Invested today for first time.

[fokker45] 15/7/2021 16:30

I just came to same conclusion and would think 14p is more likely than 13.3p. Last 12M trailing dividend is 13.125p. EPS over last 12M is up 29pc, dividend only up 13pc, I think 3.5p for Q3 and 4.0p for Q4 is realistic. So 14p at 267p buy price now, is 5.2pc for 2021.

In addition a special dividend of up to 5p from the treasury share sale will hopefully come our way sooner rather than later.

[flowc] 15/7/2021 16:11

I would assume that Jarvis would deal, in anything but 1/4p segmentsSo I would guess at 14p annual divi, considering their 2 quarter dividend to date this year

[crazycoops] 15/7/2021 15:27

House broker forecasts have been upgraded today to DPS of 13.3p for 2021 and 13.9p for 2022, excluding the possibility of a special dividend, as mentioned in today's interims.

[alter ego] 15/7/2021 14:13

can anyone provide a likely annual dividend figure?

[evaluate] 15/7/2021 13:26

I've been following these for 20 wonderful years.

The KPIs have been pretty consistently mentioned AFAICR.

They had a 20% target for the profit margin years ago & seem to have stuck to it, despite the fact that it seems to improve every year.

[ramridge] 15/7/2021 12:38

They mention KPIs are fully defined in the previous full year reports. But I have gone back to them and I don't see any mention of KPIs in the previous 2 full year's reports.
???? could be mistaken.

[thetrotsky] 15/7/2021 11:16

The only bit in the results presentation I didn't get was the "target" profit before tax margin in the KPIs. We achieved a profit before tax margin of 57% for H1 2021 (as compared to 53% for H2 2020) and yet the "target" is 20%? Doesn't make sense. I guess a 20% increase in the profit before tax margin (taking the margin to about 68%) might be achievable if they can continue to increase revenues without increasing overheads at the same rate but that would be a big step up (again). Furthemore, it doesn't say increase, which makes me think that there must be some error in the disclosure

[evaluate] 15/7/2021 10:02

Brilliant results.

Fabulous company - just keep getting better and better.

[ramridge] 15/7/2021 09:52

By my calculations, full year results are likely to beat broker forecasts by a substantial margin.
so a re-rating must be on the way.

[vprt] 15/7/2021 08:35

I hope the chairman is right - I was impressed with the results and the statement, and took an initial position at open today.

[tenapen] 15/7/2021 08:00

Chairman's statement



I am delighted to present a set of results that I believe demonstrates the last year was not a unique period relating to extraordinary market conditions, but evidence of the growth that the business has made, and continues to make, over the past five years.

Cont....


--------

Perfect.

[melton john] 15/7/2021 07:48

The next Divi announcement will I assume, take place when the court approval of Share Premium is registered with Companies House. Should surely be a special one. Hope they pull their finger out at C.H.

[fokker45] 15/7/2021 07:46

H1 2021

£8.1m revenue and £4.6m PBT.

Cash was £3.8m end of year, now £7.1m.

I would expect the next quarterly dividend to be at least 4p.

The treasury share sale raised £2.2m, equivalent to nearly 5p per share. This may well be paid out as a special dividend later this year. I would now pencil in at least 16p in dividends in next 12 months and 5p as special dividend, at 244p a share, that's a dividend of 8.6pc.

Everything is better than I thought, it's a stunning set of financials, the Chairman is positive, but he is not really shouting it from the roof top.

[cwa1] 15/7/2021 07:38

I kind of liked this bit too...

Finally, during the period we realised a substantial sum of cash through the sale of treasury shares which had been purchased over several years. We have also, since the period end, filed the court's approval to cancel the share premium account of Jarvis Securities with Companies House. Once registered, this will have the effect of increasing the distributable reserves and gives additional flexibility for the board to return cash to shareholders.

Yes please :-)

[flowc] 15/7/2021 07:37

Brilliant Jarvis

[cfro] 15/7/2021 07:26

First couple of paragraphs of the Chairman's statement are key for me:

I am delighted to present a set of results that I believe demonstrates the last year was not a unique period relating to extraordinary market conditions, but evidence of the growth that the business has made, and continues to make, over the past five years.

Trading conditions have been favourable, but we have not seen the extreme volatility and accompanying spikes in daily volumes that occurred in 2020. Share prices have been relatively stable, and the accompanying volumes are at a level I expect to be the considered normal for the foreseeable future. We have been able to capture additional revenue through growth of the business, and as the figures demonstrate the operational gearing within the business allows for much of this revenue to translate into profit. We have onboarded two new institutional clients during the period, our existing institutional clients continue to grow organically, and we have a healthy pipeline of enquiries for our outsourcing, custody and settlement services.

Increased revenues and profits then not coming through increased trading volumes but, and importantly, from additional account openings.

[cwa1] 12/7/2021 08:30

I don't follow Charles Stanley at all but the figures to end June seem pretty solid overall to me...



...must augur reasonably favourably for us too I would have thought

[cwa1] 10/7/2021 14:08

Excellent Maddox, that's great to hear. I wonder how much business they might pick up from EQI transfers? Also PrimaryBid seem to have been busy too

[maddox] 10/7/2021 11:40

I'm very pleased to report that the transfer of my ISAs from EQi to X-O has gone surprisingly quickly - the equity holdings came across about a week ago and the cash has followed fairly promptly. I was expecting to be out of the market for a good few weeks - so very much better than I'd feared.

[shanklin] 09/7/2021 11:30

I sold half progressively, but in retrospect tooc heaply. £2.45 was the highest of my sells so happy to buy them back given the ever improving prospects... ...fingers crossed.

And if the market gets unhappy at any point, JIM will be even busier.

[cwa1] 09/7/2021 09:44

If I didn't have too many already I think I would be joining you :-)

[shanklin] 09/7/2021 08:48

Been adding here just below the £2.45 mid-price.

Its just under the recent placing price of £2.50 and I am fairly hopeful of a decent H1 report on the 15th July. Failing that, at least there's a 5% dividend.

[tenapen] 18/6/2021 15:29

Markets dropping on average volume !.

No panic selling bodes well !