Osb Share Discussion Threads

[mikeja] 17/3/2015 13:45

Second half eps 13.4p.They only had use of the new money for half the year.

[mikeja] 17/3/2015 13:03

Just reading back see that pest FF has made himself a laughing stock again.

[mikeja] 17/3/2015 12:57

Outstanding results.Would be surprised if eps do not top 30p this year.On the same rating as PAG that would make them worth 420p.

[someuwin] 17/3/2015 12:05

Looks excellent value.

Bought a few today.

[nurdin] 17/3/2015 11:51

Brokers expecting eps of 28p for the current year, which puts the shares at current price on a ridiculously low pe...

[mazarin] 17/3/2015 11:19

Today reports Doubling profits after first year of trading, for more info see:

[mazarin] 17/3/2015 11:15

Kent based 'OneSavings Bank' specialises in the 'buy-to-let' and smaller business lending sectors and announces its inaugural Final Dividend of 3.9p per share for last year.
Company website:

[nurdin] 17/3/2015 11:08

Gearing up for a major breakout :o)

[future financier] 17/3/2015 09:04

Adam - by all means add me to your filter list if you like - but please do it for the right reasons. I am not somebody who posts any old rubbish just o appear important - I try to put out genuine information that MAY be helpful to investors.

If you read my posts on this board you will see that I have acknowledged that there is short term opportunity here. The change in terms of business would NOT require any form of announcement - it is something that businesses that trade with OSB will see when they renew their agreements. And I believe this is in the long term interest of OSB even if it will reduce the growth in profitability in the short term (and please note how I have worded this - I am NOT suggesting that the change will cause a drop in profits).

Unfortunately there are a few other "issues" that need to be sorted - but again these will tend to reduce potential for growth rather than actually cause reduced profits.

But these were excellent results today which I will admit have beaten my forecasts - largely because of the outstanding performance of the bought-in books of loans. But they have also been very successful at keeping their costs down - and once again I will admit I got it wrong that they could continue to increase their "off-shoreing".

Will have to await the publication of their full results to understand what is happening to their organic loan books. Maybe they can create a model in which the organic loan book becomes secondary to the purchased loan books!

[nurdin] 17/3/2015 07:34

They have smashed brokers forecast of 19p for 2014..and exceeded expectaions for 2015.Hope I am not missing anything !

[nurdin] 17/3/2015 07:12

yes, cracking set of results! Makes a strong case for a rerating imo

[adamb1978] 17/3/2015 07:07

Excellent results. 24.4p EPS, 31% RoE. These should be way higher than where they are

[adamb1978] 16/3/2015 20:25

Let's see tomorrow. If what FF claims is correct, then they would be duty bound to announce this 'big change' to their business tomorrow morning in the results. If nothing announced, I can add another person to my filter list

[melody9999] 19/2/2015 21:01

patience starting to show a little reward here now. Keep holding!

[nurdin] 13/2/2015 14:46

On verge of a breakout imo :o)

[mikeja] 29/1/2015 07:03

FF.have other things to do rather than hold pointless arguments on bbs.
I showed you had nil knowledge of OSB board of directors.The facts remain the same.OSB are growing faster,have a ROE double that of PAG and are selling at a much more attractive forward p/e.End of.

[future financier] 26/1/2015 15:42

Almost forgot to mention that whereas PAG currently pays c. 80 Bps margin on its securitisation of 95% of its book of mortgages, OSB can afford to pay 150 Bps to securitise c. 70% (in September 2013 admittedly - at which time PAG was paying c 125 Bps for 95% securitisation). Clearly this is another example of PAG being incompetently managed and not smelling of roses - as well as having over-valued assets on its books!

And I think you will find that the long term investors in PAG have had a very handsome return - even after they had to have the emergency RI (through no fault of the management of PAG).

[adamb1978] 23/1/2015 09:21

Agree with Mikeja's comments. One of the most comforting things about investing in OSB is (as well as the valation) that not only the management team but also the board have a lot of relevant experience. The board is better than you could ever hope for for this size company

[mikeja] 23/1/2015 06:53

I should also add that the Saffron Building Society where Andy Golding and some of the next tier of management worked came through the crisis smelling of roses-unlike PAG of course

[future financier] 22/1/2015 10:47

Let me copy a post I put on the PAG BB (apologies to those who follow both BBs!)

mikeja - PAG and OSB are VERY different animals. Whatever you have to say about the greed of the PAG management, you do have to acknowledge that they saw the business thru the GFC without external bail-out - and they know what they are doing, having the lowest level of borrower default in the industry.

Whereas OSB is the failed Kent Reliance Building Society now managed by fresh management that has precious little true knowledge of the market in which they operate - and certainly has not seen the business through any form of downturn. They rely on keeping their costs down by outsourcing several elements of their business to India and they have also taken operational decisions that MAY be good in the short-term but which will undoubtedly cost dearly in the long-term. Bear in mind they were set up by JC Flowers - and their operational imperative is a quick turn on their invested funds. Expect some chickens to come home to roost here!!!



Having said all that I agree that OSB is a very tempting short term prospect for the reasons that have been outlined - but be ready to get out quickly at the first sign of trouble!

[mikeja] 21/1/2015 06:45

Especially given PAG ROE is about one third of that for OSB