Lakehouse Share Discussion Threads

[sharw] 02/8/2018 22:49

Thanks for picking that up Cerrito. For the record it can be found here:

[cerrito] 02/8/2018 13:52

Edison have issued a pretty thorough and sensible report.
Emphasize importance of putting to bed the two disposals for construction and property setvices and surmise could take up to one year.


Cannot find a specific target share price but notes that Lake trades at a lower prospective pe than its peers; also note that it estimates operating profit raising from £7.4m last year to a base case of £9.4m on 2020- ie given the recent history quite a slow increase and the report also suggests that it's current financial strength is somewhat less than optimal.
All in all happy with my current holding.

[vfast] 16/7/2018 15:17

The Slater news is very positive. However I was expecting an interim dividend.

If they sell off the none core businesses may be a capital return would be on the cards but only speculating.

Either way they look a good recovery stock!

[igoe104] 13/7/2018 11:24

Totally agree, good to see slater top up, I'm also considering topping up in the medium term.

[cerrito] 13/7/2018 10:52

For me good that Slater has gone up from 8.7pc to 10.19pc; I found the situation as explained in the Interims to be rather messy and await with interest news of the disposals; I note uncertainty about that reason for no interim dividend.

[jsmith1982] 04/7/2018 08:51

I believe there is a link to Mears, unclear if its current or former employees.

[diduno] 28/6/2018 10:09

Whoever is buying it should ensure they are aware of all liabilities they are committing to.

[whoneedslottery2] 27/6/2018 20:15

A team of sector specialists - what does that mean?

Restructure, Carve it up and Sell on at a Good Profit within 12 - 18 months?

Such a shame.

[vfast] 17/5/2018 10:42

That looks like a cracking deal and a good fit for Lakehouse.

[igoe104] 17/5/2018 07:54

Looks a good acquisition, which compliments the current business.

[igoe104] 17/5/2018 07:43

Lakehouse plc

("Lakehouse" or the "Group")

Acquisition of Just Energy Solutions Ltd

Lakehouse, the asset and energy support services group, is pleased to announce the acquisition of the entire share capital of Just Energy Solutions Ltd ("JES" or "the business"). JES is a private sector heating and renewables specialist, providing services for large energy companies, retailers and private householders. The business is headed by Managing Director, Neil Ring and based in St Albans.

JES complements the current activities of the Group's three Gas compliance businesses, which together provide national coverage with public sector clients. The business also bridges to our smart metering operations in Providor, which employs 300 engineers in the private sector. JES offers the Group an important strategic adjacency in taking our activities further into the Industrial and Commercial and domestic markets.

The business was founded in 2011 by Neil and Alan Ring and is based in St Albans. Whilst JES has a national footprint, the focus of its operations is in the home counties and working with Lakehouse, the aim will be to expand its geographic presence in private sector gas and renewables. JES is also the country's leading provide of solar buyback services, as recently covered in the Financial Times on 5 April, which offers additional opportunity for growth. Following completion of the acquisition, Neil will continue as Managing Director and take responsibility for driving the strategy of the business in co-operation with the wider Lakehouse Group.

The acquisition represents a further step in Lakehouse's growth strategy as the Group continues to expand its geographic breadth and range of service offerings, with a focus on compliance and energy services.

An immediate focus will be to deliver procurement savings to JES through the Group's scale and buying strength, complimented through medium term top line growth. With this in mind, the consideration has been structured as £nil payable on Completion and deferred sums based on the profitability of the business over the next two years. JES has some 50 staf

[vfast] 15/5/2018 17:01

It will be interesting to see what size dividend they will announce in June.

I was hoping for 0.5p however it may be more.

[igoe104] 15/5/2018 08:15

It also looks like the contract could be extended, so it can be even bigger.

[vfast] 15/5/2018 08:11

A good contract win announced this morning £55m over 3 years.

[vfast] 13/4/2018 10:19

It's always hard to tell when big trades go through at odd prices.

If the big trades were sells the share price would have dropped and if they were buys the share price would go up.

They could have been roll overs for the end or beginning of the tax year negotiated with the MM's. Because no share price movement that would be my guess.

MM's biding 39.01p for 200,000 shares way over the Market Size.

[napoleon 14th] 12/4/2018 13:47

Interesting LTBH, but I sold mine to reinvest elsewhere, like an ISA.
Not ruling out getting back in, but IMO this will be quiet until June,
unless an extra-ordinary event occurs.

On my watch list.

[igoe104] 09/4/2018 13:45

Big trade come in over a million shares sold, hope it isn't EX CEO family estate starting to offload.

[vfast] 28/3/2018 23:16

Thanks Cerrito.

Still hoping for an interim dividend.Company debt very low.

[edale] 28/3/2018 17:15

Cerrito, thanks for taking the time to post your observations. I will continue to hold.

[cerrito] 28/3/2018 17:01

I was at the AGM this morning and was in and out in 15 minutes approx. Mr Holt is able to combine very effectively courtesy and briskness.
No trading statement as no change in trading expectations which is not very surprising given the unspecific Outlook Statement made in the Jan 23 prelims of
Quote
We have a settled and committed Board, a strong leadership base in each of our businesses and a great workforce in which we continue to invest. We therefore look to the future with optimism.
Unquote
Told that conditions post Grenfell and Caririlion were tough..could not understand the specifics more of more hurdles they had to jump and some slowness in people paying them but they do have a good liquidity position.
Compliance and energy services I gathered continued to do well.
82m odd votes cast-ie roughly half-would have expected somewhat higher given shareholder composition.
4.8m votes cast against director reelection and 13m voted against the pre-emption right clause and the Chairman was specific that there were no immediate plans for them to raise cash. I would have been flabbergasted if he had said anything else given their liquidity position and the fact that he had ruled out acquisitions in the AR .
There were quite a few shareholders there and they all seemed to know each other and I was the only outside shareholder. This has made me focus on the fact that there are quite a few individuals with a 3%+ and so you have the risk of death and divorce causing a sale share and who would be the buyer-and indeed we have Estate of S Rawlings whose stake is worth £9.5m approx. and how long will they want to hold-be interesting to know how many beneficiaries.
Anyway if I make next year’s AGM let’s hope there are more shareholders there.
I did not ask about disposals though doubt if they would have said anything meaningful and not sure that I see any,
I am rather unclear as to whether to buy more. Their post tax profit of £4.2m on continuing operations against a marcap of £40m is respectable and my sense is that this FY exceptionals will be much reduced-they will not have restructuring costs and they have said that amortization acquisition intangibles will be reduced. Furthermore they are not beholden to the Banks.

PS I guess we will be able to witness some degree of normalization when Bob Holt can get less involved and does not need to provide consultancy services twice a week and can reduce it to at least once a week. Indeed this should be the case now if the CEO is worth his salary.
PPS It is quite probable that we will not get any news till the interims come out in June.

[igoe104] 01/3/2018 11:00

yes, and hopefully S/P in a one years time.......

I do feel the momentum has finally changed.

[vfast] 28/2/2018 15:03

In that case igoe MM's biding 43.11p for up to 100,000 shares.

42.5p for up to 300,000 shares.

42.1p up to 600,000 shares.

Hoping to test the 50p level in the near future....AGM!

[igoe104] 28/2/2018 14:16

its never boring, when the stock is moving up.

[vfast] 28/2/2018 09:40

Bit boring now but worth a mention...MM's now biding above the mid price at 41.2p for up to 600,000 shares that is as far as I can go.

We could get a re-rating of the stock before or at the AGM on the 28th of March.

IMO, DYOR.