Lighthouse Share Discussion Threads

[impvesta] 03/5/2018 11:54

Thanks for the AGM comment Graham1TY. Did they give any sort of presentation or provide any information at all, or was it just the statutory AGM stuff?

[graham1ty] 03/5/2018 10:53

Good AGM, though nothing specific to report. Board pretty upbeat. A pity that no trading statement. It is over two months since the Prelims and we are now four months into the financial year.

Good to see larger shareholders present

[graham1ty] 27/4/2018 13:16

A few sellers today ?

[trader2] 24/4/2018 15:20

Very sizeable holding increase by Northern Trust - up to 13.76% (from 8.98%). Wonder where the increase (of 6m shares) came from?

[excell1] 23/4/2018 10:59

Good post Graham. Explains a lot.
Now come on LGT lets have these up to the broker forecasts.

[graham1ty] 18/4/2018 15:51

Oxman, it is becoming a real issue on Stocko, the eps columns do not collate. The problem is the adjusted, adjusted earnings that brokers ( and increasingly Companies use). So, for HMLH the Stocko historic is statutory reported (2.3p)and the forecast is FinnCaps adjusted number 4.11p, showing an apparent 65% rise, when the actual like for like forecast is only 9% higher.

So, LGT report FOUR different eps figures. Last year: statutory 2.13p, statutory diluted for options 1.98p, adjusted* 1.59p, and adjusted* diluted 1.49p. The biggest difference is that LGT pays negligible tax as it has historic tax losses. The 1.59p assumes a normal tax charge. So you could argue that the “proper” eps for LGT is 1.49p, a properly diluted, fully taxed figure. Keeping up ???

So, forecasts.....FinnCap have a historic, adjusted eps number of 1.5p. And their forecast is a rise of 7% to 1.6p. And for 2019, another rise to 1.8p. However, you could argue these are very conservative as LGT, for the moment, is not paying the tax.

Stocko meanwhile has a historic eps of 1.99p, which is actually fractionally different to any of the numbers above. Stocko have the historic as the diluted, but untaxed number. I have NO IDEA where their 1.54p forecast is from....ah yes, I have found it. It is an old forecast from FinnCap on a fully taxed, diluted basis. But FinnCap upgraded that number in Feb to 1.59p. That compares to the 1.5p and would show 6% growth in eps ON THIS BASIS. However, the comparable number for Stocko would be 1.99p falling to 1.9p. I cannot immediately see why FinnCap have REPORTED eps falling as they have Net Income rising from £2.7m to £2.9m. And there are no new shares in issue.

Did you follow any of that. Bottom line: eps on a proper, as if taxed, basis will rise c 7%, followed by 12%, according to FinnCap. The Stocko numbers are (again) very misleading ( well, actually wrong).

Either way, LGT is therefore a tiny bit better value than people realise as there is NOT a crash in profits coming. Hope that helps. Come to the AGM on 3 May and meet them

[its the oxman] 18/4/2018 13:45

Hi, can anyone holding explain why stockopedia has forecast eps falling this year. Like the look of lgt with good cash pile and div , its prospects seem good so bit surprised by forecast. Is it wrong or am I missing something?

[excell1] 20/3/2018 13:44

RNS Number : 1999I

Lighthouse Group PLC

20 March 2018

For immediate release

Lighthouse Group plc

("Lighthouse" or the "Group")

Affinity contract renewal

Lighthouse Group plc (AIM: LGT) is pleased to announce that it has agreed the renewal of its contract with the General Federation of Trade Unions ("GFTU") to be the preferred provider of expert financial advice to its affiliate members.

The contract will run for two years from 1 March 2018 and under the terms Lighthouse will be the preferred provider of financial advice to GFTU affiliate members, encompassing advice on savings, investments, pensions and protection, plus mortgages.

The GFTU is the federation for specialist trade unions and sections of larger, general unions. It has 27 affiliates with some 260,000 members and provides a range of support and services, which include education, research and project management.

This contract renewal underpins a growing list of affinity partnerships, which includes major employee organisations such as UNISON, UNITE, usdaw, BA Clubs, Prospect and the Royal College of Nursing (RCN), highlighting Lighthouse's capacity to deliver holistic financial planning solutions to a diverse and substantial customer base on a national basis.

Doug Nicholls, General Secretary of the GFTU, commented: "We are delighted to have secured the renewal of this contract with Lighthouse, which will enable us to continue to facilitate financial planning assistance for our affiliate members and ensure that they are able to receive this in a reliable and consistent manner, no matter what their planning requirements might be".

Malcolm Streatfield, Chief Executive Officer of Lighthouse, commented: "The Board is very pleased that we have secured the renewal of this partnership with the GFTU. We look forward to developing further our relationship over the coming years and working closely with GFTU affiliate members to assist them with their financial planning requirements. The Board remains committed to maintaining and enhancing the Group's affinity relationships across the UK".

[excell1] 20/2/2018 10:49

Encouraged by these results and the brokers new target of 30p. Divi also nice.
Often get a bit of selling on results day.

[trader2] 20/2/2018 10:29

Based on published trades - incredible how tiny volumes make significant changes in the price.

[graham1ty] 20/2/2018 09:36

Something has spooked people ? There seems to be net selling overall ? FinNCap have upped their forecasts by 5% and 11% for the next two years to 1.6p in 2018 and 1.8p in 2019. They have upped their divi forecasts by 18% and the target price by 10% to 30p

[graham1ty] 20/2/2018 08:38

Who is selling Down at 23p ?

[impvesta] 20/2/2018 08:36

Agreed amt. Nothing to do with smoke and mirrors. Just very clearly showing the effect of the large prior year tax credit.

[amt] 20/2/2018 08:26

No Smoke and mirrors. Information is there in the notes if you take time to analyse it.

[trader2] 20/2/2018 07:57

amt - understand/accept your point. Impvesta - thanks.

[impvesta] 20/2/2018 07:52

"Trader220 Feb '18 - 07:33 - 700 of 700
0 0 0
Like the revenue growth - but profit and eps a bit flat"

The flatish EPS is because in 2016 there was a deferred tax credit of £750K i.e. negative tax, to recognise the likely future utilisation of past Corporation Tax losses. In 2017 the tax credit is "only" £200K.

It makes more sense to compare the pre tax profits which have increased from £1,893K to £2,521K i.e. an increase of 33%.

Excellent results imho.

[amt] 20/2/2018 07:41

Eps up 34% so anything but flat. You perhaps looked at the numbers impacted by tax adjustments which to my mind arent so important.

[trader2] 20/2/2018 07:33

Like the revenue growth - but profit and eps a bit flat - nevertheless a decent set of results.

[amt] 20/2/2018 07:25

Why is this so cheap. Pe of 10 seems low.

[graham1ty] 20/2/2018 07:20

Results look pretty good. Onwards and upwards

[zico01] 30/1/2018 08:21

Lighthouse Group plc

("Lighthouse" or the "Company")

New affinity contract win

Lighthouse Group plc (AIM:LGT), the national financial adviser of choice for Middle Britain, is pleased to announce it has won a new contract with UNISON, to be the preferred provider of expert mortgage advice to the union's members.

UNISON is Europe's largest public service union, with more than 1.3 million members.

This new contract extends the current offering to UNISON members to provide their members with financial advice and brings the number of affinity partners who have appointed Lighthouse to provide mortgage advice to their members to 14.

Lighthouse Group is the national financial advisory group and preferred financial adviser to 21 affinity partners, with a combined membership of more than 6 million individuals.

Sharon Mehta, UNISON Membership Services Officer said: "Lighthouse provide our members with sound financial advice as part of an all-round professional service. We welcome continued partnership with Lighthouse. They offer a broad range of products and their advisers are both approachable and knowledgeable."

Malcolm Streatfield, Chief Executive Officer of Lighthouse Group plc said: "The Board are delighted to have secured this partnership with UNISON.

We look forward to developing our relationship over the coming months and working closely with UNISON members to assist them with their mortgage and borrowing requirements. Lighthouse remains committed to developing our affinity partnerships throughout the UK."

[babbler] 12/1/2018 08:08

Worth a buy? Or hard to sell.?

[xajorkith] 12/1/2018 07:55

"revenue, EBITDA and profit before taxation ahead of market expectations"

Great update & a nice way to end the week :-)

[graham1ty] 12/1/2018 07:31

Yes, first growth for years. They have raised profit by squeezing costs, but this has never been a “growth” stock. Let us hope it can now move forward. There is new pension business coming forward, and let us hope that is not another misselling scandal to come