Lakehouse Share Discussion Threads

[pugugly] 05/7/2017 11:11

re 26 Jun '17 - 16:46 - 796 of 813 Nurdin

I hope their cladding contracts - as Nurdin pointed out were costed on the basis of fire proof cladding and not as permitted under what were the then current building reg and or they had a clause in the contract permitting them to upgrade the cladding at clients cost if the regs changed - Whatever I can see possible major delays to all cladding contracts until the regs are upgraded. Could be major opportunities for LAKE or subject to contract terms and Hackney major downside - One to watch (imo) but possible high risk either way.

[albanyvillas] 05/7/2017 10:44

how many claims will emerge for bad work


hope they have proifessional indemnity cover for this cladding malarkey

[tippers55] 05/7/2017 10:42

The bottom of the article is quite interesting in that Lakehouse have won some Adjudications against Hackney relating to the works on the Hackney Homes Eco Project. Whilst claiming that their works were satisfactory Lakehouse terminated one of their Sub-Contractors alleging that the works were unsatisfactory and the consequence of that termination is that the sub-contractor concerned has been forced out of business with hundreds of thousands owed to it. Shame on you Lakehouse. You treatment of hard working people is appalling.

[diduno] 05/7/2017 09:35

While vfast presumably refers to the Evening Standard article as gutter journalism, I note that Lakehouse does not dispute the Hackney Homes news in the article: fraud investigations and arrests etc etc, but merely claims that Hackney and Grenfell are wholly unrelated. Is that comforting to anyone particularly when the Mayor of Hackney refers to an ongoing criminal investigation and a contemplated civil action?

I do not believe the mayor would make such statements and possibly leave the council open to claims of libel unless he was 100% certain of what he writes.

[norbert colon] 05/7/2017 08:35

I am pleased to have doubled my small holding this morning. I agree with vfast that there is sensationalist journalism going on here. We all want to know that any negligence by anyone involved in Grenfell is firmly dealt with, but throwing stories around like this doesn't help anyone.

[vfast] 05/7/2017 08:14

Gutter journalism,rather than report the news they are making it up.

They have not got their facts right.

[imranawan] 05/7/2017 08:12

Rarely is a good day for Lakehouse shareholders.

[igoe104] 05/7/2017 07:57

Lakehouse Confirms Its Compliance Business Tested Grenfell Fire Saftey
By Alliance | Tue, 4th July 2017 - 17:58

LONDON (Alliance News) - Lakehouse PLC confirmed on Tuesday that its compliance business had been engaged to certify the appropriate working of the installed fire safety systems of Grenfell Tower, the tower block that was devastated by a major fire last month, claiming at least 80 lives.

The asset and support service group late Tuesday noted several press articles speaking of the group in regards to the Grenfell Tower tragedy.

Lakehouse confirmed that its compliance business Allied Protection was hired by the Kensington and Chelsea Council in January to certify the working of its installed fire safety systems. Allied said it was satisfied that the Grenfell Tower system was maintained in accordance with all requirements, and that all evidence "presented to date" indicates it worked as it was designed to. Lakehouse added that this business was not responsible for the specification of the system.

The group said it is currently offering the council and emergency services team its full support with information and resources.

Lakehouse has also said that an ongoing dispute between the group and Hackney Homes Ltd, that had been linked with the Grenfell fire in a recent press article, is "wholly unrelated".

"Naturally our thoughts are with the families and residents who have been impacted by the Grenfell fire. Lakehouse is a leading asset and support services group and operates to the highest standard of resident safety and client confidence. We have found the past week highly disappointing, but will not be distracted from continuing to provide a high level of service to clients and residents alike and support them during this difficult and traumatic time," the company said in a statement.

[nw99] 05/7/2017 07:42

Not going to be a good day here

[briangeeee] 28/6/2017 23:50

Isn't is correct that each flat has its own local alarm, and residents of all flats, other than the one on fire, are advised to remain in their flat, and wait for the fire service? Having an alarm sounding continually in each of those flats is likely to cause an undesired rush for the exit. So, I could understand why alarms were not sounding in an overall sense.

Anyone understand a high-rise smoke/fire alarm system?

[igoe104] 28/6/2017 20:31

Found it.

At least Bob holt seems happy that alarms went off, and Lake did everything by the book.

[norbert colon] 28/6/2017 20:08

Jim Armitage piece - either the standard or the independent. I saw it on Twitter.

[igoe104] 28/6/2017 19:55

MMMMMMMMMMMMMMM ?

This is the only article on lakehouse in the evening standard.



Grenfell Tower tragedy ‘will boost social housing’, say builders

Bob Holt, the chairman of building maintenance firm Lakehouse, said: “The sector will move forward in a regulated way and the good companies will prosper

[norbert colon] 28/6/2017 18:41

I see LAKE were the fire alarm contractor on Grenfell so hopefully no adverse impact. Article in Eve Standard tonight.

[sdtreble] 27/6/2017 20:44

I agree Vfast, I thought the general results were solid enough although I did sell this morning due to:1. No dividend being paid (although I understand why)2. I would like to see the remainder of the exited property services contracts being wrapped up with the final financial impact being known.3. I simply don't think the share price will do much for next 6 months.Overall I do think Bob Holt will turn this company around, I will put on watchlist and probably revisit in 6 months or buy on any significant weakness between then.

[vfast] 27/6/2017 14:50

Results seem to be a mixed bag and there is no interim dividend so a bit disappointing however Bob Holt implies the group is moving forward and think we will see a better second half.

[nurdin] 26/6/2017 19:41

Great stuff...thanks.

Could be a huge opportunity for them in replacing all the claddings in the London tower blocks and elsewhere....their experience should count for a lot imo

[sharw] 26/6/2017 18:45

Apart from Camden it is all in Scotland where building regs are already tightened see:

[nurdin] 26/6/2017 16:46

" Trading Update

Elsewhere the Energy Services Division has had a good start to the current financial year ("FY17"), securing important External Wall Insulation contracts with Fife Council, Rosehill Housing Association, Grampian Housing Association and the London Borough of Camden. ..."

I hope the external wall insulation material has gone through rigorous fire safety tests.

[igoe104] 20/6/2017 09:10

Yes interims are out next Tuesday, I expect the seeds of recovery to have continued.

Sdtreble should be a good buy based on the last trading statement.


Lakehouse plc ("Lakehouse" or the "Company")
New Contract Win & Update on Trading
 
Lakehouse awarded a £39m metering contract in the West Midlands with Scottish Power
Lakehouse, the asset and energy support services group, is pleased to announce the award of a major contract with Scottish Power ("the Contract"). The Contract commences on 1 May 2017 and requires the installation of some 400,000 meters, comprising both smart meters and "business as usual" installations.  The Contract is anticipated to be worth £39m over its four year term.
The Contract covers the West Midlands and is in addition to the Group's £37m domestic smart meter contract with Scottish Power across Northern Scotland, Wales and North West England, announced on 2 August 2016.
The Group considers its metering business, Providor, to now be a leading contractor in the roll-out of smart meters on a nationwide basis, placing it well for future growth.
Trading Update
Elsewhere the Energy Services Division has had a good start to the current financial year ("FY17"), securing important External Wall Insulation contracts with Fife Council, Rosehill Housing Association, Grampian Housing Association and the London Borough of Camden. 
The Compliance Division has had a number of important contract wins in FY17, meeting our strategy to grow organically in both service lines and geographic footprint. These include a £7m commercial gas programme with London & Quadrant over five years, a £2.8m heating and boiler replacement programme with Central Bedfordshire Council, a £2m heating servicing and repairs contract with Derbyshire County Council over two years, a £1m fire equipment service and maintenance contract with Shepherd's Bush Housing Association over three years, a four year legionella framework with Procurement for All potentially worth £650,000 and a £1.6m lift modernisation programme with the London Borough of Hammersmith and Fulham.  The Division has also been successful in resecuring a number of existing contracts, which help underpin the prospects for the business.
The Construction Division was delighted that the Chadwell Heath Campus at Redbridge College, a Lakehouse design and build project, won the Light and Exterior Surface award at the recent Surface Design Awards, demonstrating the quality and innovation Lakehouse brings to such works.  The division has also secured a number of important new wins in FY17, including a £6.1m contract with Uxendon Manor Primary School (London Borough of Brent), a £4.2m contract for Haslam House & Chichester Court (London Borough of Harrow) and a £2.7m contract for Harris Academy (London Borough of Merton). The division continues to experience delays on new contracts related to two stage procurement, albeit 14 of the 17 contracts discussed in the FY16 annual report have now mobilised.
The turnaround of the Property Services Division continues, with the new management team in place implementing the strategy.


 
Bob Holt, Executive Chairman, said:
"We are very pleased to have been awarded this significant contract, further expanding our relationship with Scottish Power and demonstrating our excellent customer service levels.  The award of this latest contract reaffirms our strategy of becoming a best in class supplier in the energy services market.
Elsewhere the Group is performing to the Board's expectations as a result of the strategic initiatives implemented in each division and we expect a strong second half performance from the Group as previously indicated. We remain focused on restoring shareholder value by delivering against our organic growth strategy."

[sdtreble] 20/6/2017 08:44

Topped up this AM, hopefully see the foundations of the turnaround and confirmation of good current trading in the results next week. Bob Holt seems very motivated to restore shareholder value here which is fine by me!

[igoe104] 20/6/2017 08:07

Conservatives' new laws for 2017-19 revealed.

A second would help people switch to greener and cheaper electric cars by making it easier to access charging points around the country




Good news, for one of Lakehouse affiliate companies Everwarm.

Who install electricVehicle Charging Posts.

hxxp://www.everwarmgroup.com/electric-vehicle-charging-posts.php

[nurdin] 16/6/2017 16:23

Bit of a pain this..cant remember why I bought

[vfast] 22/5/2017 18:51

Interesting 4 delayed trades equalling 1.2 million shares.

I think institutional buys?

[igoe104] 18/5/2017 08:18

Hopefully we will be testing that first target of 75p next month.



Lakehouse, the asset and energy support services group, will announce its interim results for the six months ended 31 March 2017 on Tuesday 27 June 2017