Just Retire. Share Discussion Threads

[stegrego] 02/4/2008 12:20

If id had been more on the ball and also had spare cash, Id have dabbed in, in the 60's.

Still looks good

[masurenguy] 02/4/2008 09:23

Back to 100p after a brief round trip to visit the high 60's mid month. Substantial volatility still on very small volumes.

abcd1234 - any chance of a Long Term Chart in the header ?

[kevdealer] 27/3/2008 13:51

Very small trades causing a very large increase, but it was not to long ago we saw small trades do the opposite.

Agree that 100 will be a resistance point, and would be surprised if it keeps today's gains. 23.42% but lets hope :)

[the dweller] 27/3/2008 13:39

*Wonders what caused the spike today*
I agreee with the volatility.. A fair few automatic trades going through..

[abcd1234] 27/3/2008 13:19

kevdealer....up 21% at the moment on a sharp spike today ;O)

saw this on the % gainers list just now, and thought what a nice turnaround. Have not had a look in here in ages.

Doubtless, if in the near-term it breaks (& holds above) resistance at 100 it will bring others back to take a look at JR. once again

p.s. Masurenguy's post no.117 above is true though, so will have to see.....

[kevdealer] 26/3/2008 15:30

At least/last the trend is up.

[masurenguy] 26/3/2008 12:41

Very volatile - significant share price moves (up & down) often triggered by small trades.

[stegrego] 19/3/2008 07:54

Look good to me, although i always find it hard to value companies like this as they dont generally use the p/e metrics.

However, look very good value.

[masurenguy] 19/3/2008 07:53

Excellent interims - positive outlook - maiden interim dividend !

HIGHLIGHTS

Group new business sales of £387m, up 25.0%
Value of new business for first half year of £20.3m, up 15.3%
Embedded value of £145.9m, up 25.8%
Substantial increase in annuity market share from 5.2% to 6.4%
High volume of equity release applications currently being received
Group reiterates confidence in full year performance

Outlook

As previously indicated, with the launch of new product initiatives in late 2007 which have been well received by the market, we are optimistic that second half annuity sales will show continuing growth over the corresponding period of 2006/7.

Given that Just Retirement should also be a beneficiary of both an increase in the use of the Open Market Option (following the initiatives announced by the Government in the Pre Budget Report) and the significant potential for enhanced annuities to secure further penetration of the overall market, we believe the Group will enjoy further substantial growth in annuity sales over the medium and long term.

Whilst the current financial market background has undoubtedly had an adverse impact on the overall annuity market, our experience is that potential annuitants can only delay taking their benefits for a matter of months. Our average contract size is approximately £50,000 and these prospective annuitants generally can not afford the luxury of deferring for very long. We therefore expect to see an end to this deferral occurring in due course and most likely with a compensating favourable effect on sales for 2008/9.

On equity release, we are currently experiencing high levels of interest, which should enable us to deliver strong sales results in the final months of the year. Furthermore, we believe that our internal funding methodology will produce increasing long term competitive advantage compared to traditional equity release product manufacturers. Accordingly, the Board is confident of the outlook for the current financial year.

Mike Fuller, Chief Executive, 19 March 2008

[masurenguy] 17/3/2008 15:49

Big drop on comparatively small volume prior to the interims on Wednesday !

[rocheberie] 15/3/2008 16:54

Sorry, poor choice of words, I meant a larger shareholder and was looking at all the 2,500 trades.

[masurenguy] 14/3/2008 16:01

Hmm.....looks like 105K share disposal at 87p just after 2.25pm - hardly a major shareholder since this constitutes less than 0.04% of the issued shares.

[rocheberie] 14/3/2008 15:52

Looks like another major shareholder lightening their stake today and just before the results are due.

[masurenguy] 27/2/2008 14:19

Raft of small Buys today has pushed the share price up by 5%. There has been no news over the past week so I wonder what has triggered this sudden interest !

[masurenguy] 30/1/2008 09:16

Down 9% on less than 10,000 shares traded !!!

[rocheberie] 23/1/2008 17:50

I agree, hence me wanting to buy back in, but if I can get the shares cheaper a month or two down the line, that's even more value to me.

[masurenguy] 23/1/2008 17:48

Rochberie/Steg - looks like you're right - the structure of these announcements can be very confusing. Since DB have sold there could be an overhang which might hold the price back until it is cleared but frankly it does not affect the fundamentals at all - this is still a value play in my opinion !

[rocheberie] 23/1/2008 17:32

Because they do not have to declare their holdings under 3%, they could have sold a lot more than 2.6 million, even getting rid of their entire holding of over 11 million shares, we will never know.

ADVFN are only showing sales of just under 95,000 over the last three days, so the marketmakers could be holding a large overhang of shares, unless Deutsche have managed to find a new holder.

I have been looking to get back in as I sold out at £2.30 and £2.19, but I think I will sit this one out for a month or two until it becomes clearer where the shares have gone.

[stegrego] 23/1/2008 17:21

He is correct, it says below 3% - they have gone down through 3 not up.

Although its not exactly clear.

WTF cant they make these things understandable?

Whats wrong with saying

'On X date, X bank sold / bought X shares and now they hold X% of the company'???

[rocheberie] 23/1/2008 17:19

I think you have both got that wrong, they SOLD over 2.6 million shares to take their holding down to under 3%. Their holding of 11.4 million shares was before the triggering event. I can't see any good news in that

[masurenguy] 23/1/2008 17:15

Well the 3% threshhold is 8.8m so if Deutsche Bank are now declaring a qualifying holding of 11.4m then they must have acquired at least 2.6m shares.

[omsai] 23/1/2008 15:44

good news
NOTIFICATION OF MAJOR INTERESTS IN SHARES

[masurenguy] 23/1/2008 13:11

JR now at 45% below below their IPO price just 14 months ago and 67% below their ATH just 10 months ago. Half year sales up 18% over last year and even if their profits come in at around 15% below expectation, they should still be on a current year PER of 6 or 7. Also paying a small dividend and directors have recently bought at 115p.

No exposure to any sub-prime problems either here or in the USA but lumped in with other tainted financial stocks just through being in the same sector. Looks like a good defensive stock in a currently volatile market.

[masurenguy] 17/1/2008 09:16

Announced yesterday that Langholm Capital, a London based mid-market PE investment company, purchased 3m shares to take their JR shareholding up to 51.94%.

About Langholm

Founded in 2002, Langholm Capital is an independently owned and managed mid-market private equity firm. Langholm manages a fund of almost €250m, Langholm Capital Partners L.P. Investment focus is mid-market private companies, capitalised at between €20m and €200m in high-growth consumer sectors in Western Europe, mainly UK, France, Benelux, Germany, Spain and the Nordic region. Langholm is unique in that it combines private equity techniques with an added value approach by leveraging the sector expertise, local market presence, credentials and other resources of its investors.

Just Retirement: A UK financial services organisation focused purely on the needs of those in and approaching retirement. Just Retirement is focused on retirement products and specialises in enhanced pension annuities and equity release schemes. Fair and flexible terms are provided based on the clients individual circumstances. Experienced management team driven to deliver high standard of customer service. Products are sold through Independent Financial Advisors. Acquisition made in August 2004. Langholm Board member: Bert Wiegman.

Investment Rationale
1. Strong sector growth driven by the ageing of the UK population and consumer's requirements for tailor-made retirement solutions.
2. Brand and product differentiation will drive company growth and provide market leadership.
3. Capacity to re-enter market quickly using proven systems, IFA goodwill and experienced management.