Lancashire Share Discussion Threads

[undervalued companies] 22/8/2013 14:37

Could be ex dividend

[salpara111] 21/8/2013 09:30

Somewhat disappointed that the market has taken so badly to the acquisition.
I am in from 810 but still believe in the fundamentals so will hold until the next results.

[soi] 20/8/2013 14:34

I bought some more at 742, don`t like the drop on big volume but for long term hoping that proves to be OK

[miata] 19/8/2013 08:37

HSBC have increased holdings from 4.328% to 5.357%.

[salpara111] 15/8/2013 12:25

Well, I am now seriously considering doubling up as I can buy at comfortably below what the big boys just paid in the placing.
It is not often that you come across a really well run company and I do think that LRE is one.
I built a big stake in IRV back in its sub £2 days because I saw a really well run undervalued business and while I don't feel that LRE is so undervalued I do think that in 18 months they will be well north of £9.

[pendragon2] 14/8/2013 06:17

The main question must be whether they can maintain the dividend given the dilution and the cash required for their otherwise reasonable, if expensive, acquisition.

Nice to see the share price below the placing price - discourages premature selling ;-)

Given the uncertainty, it is not low enough to be worth buying at this stage, imho, but dyor.

[stevetk] 12/8/2013 21:31

I am not sure why the market did not like this new acquisition apart from the fact that they issued stock - I would have preferred that they took on some more debt which they could have paid down within a couple of years. I think the actual acquisition will probably be very good for Lancashire

[salpara111] 07/8/2013 14:37

They seem to have managed to get a pretty decent deal in terms of multiples and clearly see synergies/opportunities for the business so longer term I don't doubt that it is a good move, but they will be held back for a while I guess.

[undervalued companies] 07/8/2013 12:32

But the main reason for buying is the high dividend ? Cutting costs of cathedral plus cash balance of cathedral must help ??

Lloyds name extra business ?

[salpara111] 07/8/2013 09:14

Hmm, back underwater here again.
Little bit annoyed that they have not told us what the placing price is.
Clearly there will not be a capital distribution later this year now.
I guess that on the whole this will hold things back in the short term but will be beneficial in the longer term.
I am not selling right now as I am underwater but if I see another opportunity I am more inclined to jump ship now as I dont see this back above 900p in the next 3 months which is where it was headed before this announcement.
Edit: Now we know the placing price, I guess 780 was not bad, bit of a discount but not much at around 3.6%

[topvest] 07/8/2013 07:53

An unusual move for this company, but looks a good one to dramatically increase their scale. Only looks like a moderate amount of dilution given its only a 10% placing and their of plenty of institutions prepared to back this high quality management team.

[undervalued companies] 07/8/2013 07:46

Anybody do the sums on takeover ? How much cash do cathedral have ? And cost cutting ?

[undervalued companies] 06/8/2013 07:25

Excellent company with bumper special dividend declared nov with profits and cash higher than last year.

Will it be another 16% div all in year ?

[stevetk] 25/7/2013 15:27

I agree. I have topped up today. Profits up 20% on the half year, dividends no problem at 5c. We'll most likely see a big return of capital again this year. I do hope your invested here Boystown everyone should be it's a good company, look at the bigger picture and stay long.

[salpara111] 25/7/2013 08:47

Clearly we read different results.
I seriously hope that you are not invested here as you don't seem to have a clue about the company.
On the 17th April this year they paid a regular divi of $0.10 AND a special divi of $1.05, so if you adjust for the fact that they paid out $1.15 the net asset value is well ahead and their profits for the first 6 months of this financial year were well ahead of last year.
The fact that they mentioned their excess of capital and that they are unwilling to chase lower margin business but will potentially provide another large payout like the one only a few months ago makes me seriously consider doubling up at the current share price

[boystown] 25/7/2013 06:58

Everything down a bit across the board it would seem; NAV, revenue, premiums etc.

Divi held at 5c but for how long?

[falklands] 05/7/2013 13:29

Guys is this really 16.5% dividend a year IF they continue the special dividend each year as they have done ???

[rogerbridge] 29/6/2013 19:40

Took the opportunity to add some to the ISA earlier this week. Bought for the divi. Looks a very well run outfit.

[major clanger] 10/6/2013 15:20

LRE upgraded to add by Westhouse Securities:

www.brokerforecasts.com/news/article/articleId/4611070

[salpara111] 07/6/2013 08:08

I can only assume that there is a very large seller in the background as there is no other logical explanation for such a large fall.

[pyemckay] 06/6/2013 19:22

real downward pressure here, looking to buy in but the chart is horrid. its got to turn sometime but keeping powder dry for now.

[salpara111] 06/6/2013 14:56

Now wishing I hadn't!
Not clear what is happening here as they are seriously under performing the market, well I guess I will hold on for now.

[salpara111] 05/6/2013 11:09

Just added a long spread bet to my shareholding.

[stevetk] 05/6/2013 07:19

Incredibly sound and well run company. I think this should be a good entry point. I've topped up today.

[salpara111] 04/6/2013 10:33

Rather disappointed with the drop off here.
Unfortunately I bought after the capital return so I am a bit under water but they do seem to be a solid and consistent performer to I will hold for the moment but will watch the 750 line carefully.