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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| London & Associated Properties Plc | LAS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 8.75 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 8.75 | 8.75 | 8.75 | 8.75 |
| Industry Sector |
|---|
| REAL ESTATE INVESTMENT & SERVICES |
| Top Posts |
|---|
Posted at 25/8/2023 07:51 by tigerbythetail And dreadful results from LAS this morning as well... |
Posted at 04/4/2023 16:42 by tigerbythetail Yes, I see value in both. More LAS than Bisichi, because of the valuation mismatch I indicated in my previous post.There are concerns here - liquidity (you really shouldn't invest too much here, even though the numbers are appealing, simply because of this consideration), and board remuneration is too high and communications are basic. But Bisichi will likely report a P/E of less than 1 (!) when it releases its annual results. Where else can you find a number like that? And $140/t for coal might not match the profits of last year, but it is still plenty good for Bisichi looking forwards. I do wonder if the Hellers won't try to take both companies private sooner or later. |
Posted at 04/4/2023 15:14 by 1jbrisky TBTTI'm aware of Bisichi having held Thungela for the last 18 months or so. Would you now consider investing in either LAS or Bisichi or indeed both? Noting of course that as with all small market caps, trading even a few thousand pounds at a time can be challenging. Best JB |
Posted at 04/4/2023 12:13 by tigerbythetail Market cap of Bischi = £25.03mLAS own 41% of Bisichi Value of LAS stake in Bisichi = £10.26m Market Cap of LAS = £12.3m (And I'd argue that Bisichi is rated very cheaply as well, considering the bumper profits it is about to report, and the fact that forward Richard's Bay coal prices are looking good at $140/t. (They're way off the peak prices of last year, of course, but $140/t equals a lot of profit for Bisichi)). So, all those UK property assets are worth only about £2m quid?!? Really?!? |
Posted at 29/3/2023 08:43 by tigerbythetail BISI RNS - John Heller appointed to board over there.Since LAS own 41% of Bisichi, and they should shortly announce bumper profits, I presume he should be an advocate for a bigger dividend from them. |
Posted at 07/2/2023 11:56 by red army Perhaps they should pay down the loans and get the balance sheet even healthier or pay a special divi or combo.Looking at the accounts J Heller wont want to rock the boat as this is a nice little earner for him and his family. |
Posted at 07/2/2023 11:48 by red army Perhaps they should pay down the loans and get the balance sheet even healthier or pay a special divi or combo. |
Posted at 24/8/2022 08:20 by tim000 One way to look at LAS is to strip its BISI holding at mkt valuation out of the LAS mkt cap and compare the residual to the book value of LAS’s property assets, net of all debt and cash holdings, as Andy says. On this basis, you’re paying about 13p in the £ for the property assets. A realistic valuation of its BISI shares would imply LAS’s property portfolio has a negative valuation. |
Posted at 24/8/2022 08:11 by andydaf Seems to me market is pricing LAS at near enough the value of the shares it holds in Bisichi.Surely the value of the property portfolio must be worth more than a few million?I am not a trader but have taken a couple of batches over the last couple of weeks as in my view there is deep value here.I accept that a certain persons pay seems excessive but if Bisichis profits are going to be what i think they will be theres every chance Las is a bargain.As always GLA |
Posted at 23/8/2022 12:18 by my retirement fund LAS currently market caped at 20M, its last reported NAV per share from last year was 48p and is currently trading at 24/25pTaking into account its 41% ownership of BISI and on going events with BISI's fortunes, its NAV could be well north of 60p! Las needs to sell its stake now imo. |
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