Pcf Share Discussion Threads

[crawford] 13/12/2011 11:36

maytrees,
some competitors reentering according to the comments in the commercial sector but PCF should be able to make good margins currently.

I noticed they bought back some loan notes well below par recently, with interest on them at 8%, that is a good deal.

[blobby] 13/12/2011 09:27

* Seems like Bermuda Commercial Bank really is a shareholder.

I still don't understand this connection though. Why would a bank buy shares in PCF?

* Net assets now 15.5p per share.

If return on portfolio assets can be increased from 0.5% to 2.0% as targeted then there should be a big turn around in profits.

Does anyone know how this is calculated? Return on average portfolio assets increased to 0.5 % (2010 – 0.3%)

Are average portfolio assets about the same as adding current and non-current Loans and receivables together e.g. £102 million? If so would the return be about £500K, but I can't see this figure.

[solarno lopez] 13/12/2011 09:25

I would like to know what the Bank of Bermuda intends to do which I think is more to the point

[maytrees] 13/12/2011 09:22

Greetings Crawford

Fair point but: Admin expenses down, funding ok and competitors reducing, augur well imho although the negative economic outlook more generally doesn't help.

[crawford] 13/12/2011 09:00

47% tax rate means profit after tax at a standstill...

[maytrees] 13/12/2011 08:33

Excellent results yet no BB comment - and the only trade atm is my buy at 7.12p (shows as a sell).

Much of PCF's competition has left the market because of the recession.

All imho so dyor.


PS is 'net curtains' now 'blobby'?

[blobby] 27/10/2011 15:25

Solarno, you are crazy but at least someone else is posting here so thanks for the replies.

[blobby] 27/10/2011 13:57

Bermuda Commercial Bank,



At Bermuda Commercial Bank, we focus solely on commercial, corporate and high net worth clients offering an array of banking services, as well as a full range of custody, fund administration and corporate services.

Our professional teams' approach and individual attention to our clients' needs allows us to enhance our clients' profitability, saving them time and providing them with the premier service they demand.

Nothing to do with mafia though.

[solarno lopez] 27/10/2011 10:19

I take your point BLOBBY..and if they are holding for someone else which seems likely then it should be disclosed.....wonder if its one of these shadowy mafia money laundering type operations who do not want to mention who they are !!

[blobby] 27/10/2011 10:10

Hi solarno,

I know the RNS says it is Bermuda Commercial Bank, but it is my opinion that they must be holding the shares on behalf of someone else. I don't know why they can get away without disclosing the beneficial owner however.

[solarno lopez] 27/10/2011 07:29

It is the Bermuda Commercial Bank who now have 19%+ interesting times ahead

[solarno lopez] 26/10/2011 17:01

Wonder who has picked up the chunk of stock sold by Brookwell.

Looks like somebody was on the inside with the price moving before the announcement

[blobby] 26/10/2011 14:49

Yep, this is a welcome sign of life. Target price recently from Westhouse is 14p.



"Our target price is based on a composite forward adjusted NAV of
16.9p and a 10x multiple of 2013 EPS of 1.2p."

[empirestate] 25/10/2011 22:30

interesting large volume trades today at a significant premium to screen price

[the avoint] 12/8/2011 11:33

Same as always.

[the vogon] 11/8/2011 18:25

I'm unsure as to the source of the shares or the final ownership of them but they are specifically in the Bank's name and not that of a trustee.

[blobby] 08/8/2011 10:47

Do we think "Bermuda Commercial Bank" is the owner of these shares. It looks like a front for someone else to me.

[solarno lopez] 05/8/2011 20:41

Where from did they acquire the 8%

[the vogon] 05/8/2011 15:44

Bermuda Commercial Bank has picked up 8.8% of the Company at 6p. Perhaps they are going to provide a decent bit of finance.

[crawford] 28/7/2011 13:42

thanks blobby,
nice that it's earnings accretive; as long as their not issuing paper at this low price I'm happy.

[blobby] 28/7/2011 13:03

crawford,

From the Final results:

PCFG's CEO Scott Maybury said, "These results have again demonstrated the quality and durability of our business model and, in turn, our portfolio of receivables. There are some excellent opportunities available in our sector and with the aid of our new facility we intend to take full advantage of them. We expect to complete the acquisition of a £6 million portfolio of receivables in early July, which is a start to re-growing our portfolio of revenue earning assets and increasing our profitability. "

So the money comes from their "new facility" of £7million and they are negotiating a further facility of £8 million with no scheduled maturities in the next 12 months.

[crawford] 28/7/2011 10:35

Where are they getting the money from to purchase this?

[blobby] 28/7/2011 09:23

Looks like a good deal on the face of it. Are there any connections between North Herts Credit Company Limited and PCF before today does anyone know.