Lakehouse Share Discussion Threads

[igoe104] 23/7/2016 14:43

diduno you sound like your a former employee with a axe to grind, looking at all your pervious posts ?

So I`m taking anything you say with a pinch of salt, check out diduno other posts, only posts about lake.

[diduno] 23/7/2016 10:26

Bringing Bob Holt in cannot retrieve the large contracts lost in Hackney and Lambeth, neither can he reverse the revenue reductions facing Social Housing Landlords, the reductions the company cited as being both unforeseen and responsible for the large downturn in its Regeneration Division's workload. Presumably none of this could be related to the fraud investigation undertaken in connection with its work in Hackney and, I am informed, the company's offices being 'visited' by Hackney's Audit & Anti-Fraud Department in 2014? Furthermore, my sources tell me this investigation is being treated extremely seriously and has yet to be concluded. It will probably conclude with criminal charges being made against all of those involved.

Personally, I would use the current price increase to reduce losses. I would not view it as any indication of medium or long term trend. I believe the opposite will be nearer the truth.

While we all undoubtedly wish Bob Holt every success, perhaps Bob Hope would have been a more fitting appointment in these circumstances?

[igoe104] 22/7/2016 15:06

WE all the weekend press, more gains have to be on the cards.

Where are the de-rampers hiding now ?

[igoe104] 22/7/2016 15:03

What’s behind Lakehouse plc’s 30% gain today?




By Motley Fool | Fri, 22nd July 2016 - 10:12

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Shares in housing services provider Lakehouse (LSE:LAKE) are surging today, trading up by more than 30% in early deals as investors celebrate the appointment of Robert Holt as a director and executive chairman yesterday. Following the resignation of CEO Stuart Black on 21 April 2016, Mr Holt has been appointed to spearhead the company's turnaround after a turbulent period of trading.

Indeed, in the group's interim results for the six months ended 31 March 2016, management reported that Lakehouse has had a challenging start to 2016 with challenging market conditions exacerbated by internal disruption as the composition of the company's board was reconsidered.

Perfect person for the job?

Robert Holt seems to be the perfect man to instigate a turnaround at Lakehouse. He has plenty of experience in the property sector after running social housing maintenance company Mears more than a decade. He purchased Mears for just £50,000 in 1996 and today the company is worth just under £400m with sales set to hit £1bn, according to City estimates, by 2017.

So, if he can replicate his Mears success with Lakehouse, the group's long-suffering shareholders may finally be able to receive a return on their investment. Lakehouse has been one of London's worst-ever-performing IPOs. When the company went public in January this year, shares changed hands for just under 100p each. Two subsequent profit warnings followed and today the firm's shares trade at 29p, a full 68% below the IPO price. Before today's gains shares in Lakehouse were down 75% year-to-date.

Taking on a challenge

It's clear that Bob Holt has got his work cut out for him. Even though Lakehouse has only been a public company for a few months, the firm has already been subject to plenty of scrutiny and has fought an activist battle with Slater Investments Ltd and Steve Rawlings. Rawlings founded the company in 1988 and left in 2012. Together with Slater Investments, they account for a combined stake of around 22% of Lakehouse.

This activist battle, coupled with numerous top-level management changes has hit Lakehouse's day-to-day operations. It posted a pre-tax loss of £1.8m in the six months to 31 March, compared to a profit of £1.2m reported for the same period a year earlier. Stripping out exceptional items, underlying pre-tax profit fell 45%. Revenues ticked higher to £167.8m from £161.3m for the period.

For the year ending 30 September 2016, City analysts currently expect Lakehouse to report earnings per share of 7.9p, which implies that the company is trading at a forward P/E of 3.2. A full-year dividend of 3p per share is also expected, giving a dividend yield of 12%. Analysts have pencilled-in earnings per share growth of 10% for 2017.

The bottom line

So overall, the appointment of Bob Holt at the helm of Lakehouse could mark the beginning of a new chapter for the company. And with its shares trading at such a depressed valuation, there could be value to be found in this turnaround story

[igoe104] 22/7/2016 14:57

Lakehouse is drafting in Bob Holt to try and turnaround the company’s fortunes.

Holt was the driving force behind rival Mears and is still non-executive chairman of the company.

Lakehouse has faced a tumultuous year of profits warnings, boardroom coups and senior management changes.

The company said: “The Board believes that the Group requires experienced executive leadership to navigate the business through the current challenging market conditions whilst also setting a clear strategic direction for the Group over the medium term.

“The Board of Lakehouse believes that Mr Holt’s expertise and background in the support services industry, in particular his knowledge, considerable experience of and reputation in the sector in which the Company’s principal business operates and his track record of turning around underperforming companies, will be invaluable to the Group going forward.”

Lakehouse will ask shareholders to agree Holt’s appointment as Executive Chairman at a meeting next month.

Holt will continue in his current role at Mears and will be paid £225,000 a year by Lakehouse in salary and consultancy fees.

Holt will also receive 2,307,692 Lakehouse share on joining and a bonus share pot worth more than £4m if the company passes a share price target of 98.4p by January 2019.

The company’s current share price is 23.5p having floated last year at 89p.

Robert Legget, Senior Independent Non-Executive Director and Acting Chairman of the Remuneration Committee of Lakehouse said: “We are delighted that we have attracted a very senior candidate of the calibre of Bob Holt.

“He is a sector specialist, has a proven track record of operational expertise and is expected to be key to helping Lakehouse restore value to our shareholders.

“We are confident shareholders will recognise his potential positive contribution and support his appointment.”

Holt said: “I’m delighted to be joining the Board of Lakehouse and believe that my experience in the areas in which the Group operates will be of benefit.

“The Board is committed to return significant shareholder value and I look forward to working with the team to deliver that strategy.”"

[vfast] 22/7/2016 14:54

Exactly my thoughts Igoe, and we could recover quickly at least to the 50p level

[igoe104] 22/7/2016 14:54

Peel Hunt announced (LON:LAKE) Lakehouse Plc, renewing its price target at 50GBX earlier today.

[igoe104] 22/7/2016 14:45

Excellent appointment, hopefully the start of the turn around.

[dadedidodu] 22/7/2016 12:05

bought in here

[dlku] 22/7/2016 10:56

sit back enjoy the ride to his 98p target

[cerrito] 22/7/2016 10:41

Yes this is good news…but I do not want to be a party pooper but where will he get the time, even bearing in mind his Hlt’s assertion that he will be able to do it..
I see that he is up for 3 days a week by Lake…not sure what Mears who paid him £250K last year and DX who paid him £90k let alone all the other companies think about them sharing him for the rest of the time. I then see that his consultancy company will be working for 2 days a week at a rate structure that to me reads that he rather than his minions will be involved. Note the firm wording of this..the company intends that such services will be provided for 2 days per week.
Am I missing something???

[fft] 22/7/2016 09:48

I thought I had read somewhere that the house broker is forecasting 7.5p EPS this year, which if correct, probably means the main reason the price was so low was a matter of credibility of management and the change of the BOD.

IMHO Bob Holt solves those issues in one go.

[grannyboy] 22/7/2016 09:41

Not a holder here, YET! but Bob Holt is the best to sort these out, but its going to take time, its not going to happen overnight, but if anyone can do it, its Bob Holt.

[apfindley] 22/7/2016 09:04

Heads up GWMO drilling now get in early on a multibagger..

[dlku] 22/7/2016 08:18

wait till the weekend press get this and this will be 40p on monday

[qs99] 22/7/2016 08:15

indeed.....market likes it IMO

[fft] 22/7/2016 08:14

Very interesting package. most incentive plans only need a few percent a year increase, but Bob has a basic package of 75k a year and has to get the price up to 48.67p to get any money from the incentive package, and only gets full value at 98.4p.

And how long does he have to do this ? 2 years starting from 1st October. So he must be very confident.

[dlku] 22/7/2016 08:10

100p in 18 months - 2 years imho, may get sold to MER sooner pros

[modform] 21/7/2016 19:30

Is Slater still holding this piece of garbage? This is the worst chart I have seen, well after AFN

[mr hangman] 18/7/2016 16:39

I smelt the coffee at 35p, glad i did

[paduardo] 18/7/2016 16:21

Well done for taking the loss. I fear another profit warning is on its way but the valuation is so cheap I just cant make myself do it...

[nurdin] 18/7/2016 16:15

My resolve to hold on to these finally broke today...took a £5k hit ! As they say if you going to panic panic early...something I should have paid hid to. Se le vie

[sharw] 08/7/2016 12:22

Earlier in the year when an EGM was called it proposed inter alia:

"to remove the three Existing Non-Executive Directors of the Company, being Chris Geoghegan, Jill Ainscough and Johnathan Ford"

In the compromise reached Chris Geoghegan would leave and the other two remain. Since then Johnathan Ford left on June 20th and so departure of the third of the old and ineffective NED regime was hardly surprising.

All these announcements are on the company site at

[diduno] 08/7/2016 10:41

Jill Ainscough, a non-executive director, resigned from Lakehouse Board on 04 July 2016. What is going on there and why has there been no announcement on the company website?