Prestbury Share Discussion Threads

[james 2] 25/9/2006 13:18

Not me, where is LS these days then ?

Everything alright I hope as I lost my mail group ?

[mrsasal490] 21/9/2006 10:31

Mmmmm 333,333 shares traded hands on a cross trade, Latestarter getting out in one hit, anybody with uptodate holdings figures ?

Also only 1 AR added this month (so far) GLM Consulting

[tinpotdik] 04/9/2006 19:33

Hello all. For the record i aint sold none.
Greetings from Medellin - bit like Swindon really but the worlds prettiest women. Good luck, hope all are well. Again thanks for the updates

[mrsasal490] 30/8/2006 11:05

1 AR added in august,kingston mortgages, also new look FSA website.

[baggywrinkle] 09/8/2006 17:20

Seems 5,000 buy moved price 0.5p

Looking at the chart, we seem to be at a fascinating position:
-Downtrend since Jan 2004 at 80p forms resistance line with recent downtrend
-Uptrend since low at 12p (Oct 05) seems to form supportline
These two lines meet at around end August at about 23p.

Surprisingly, share price, 20 day, 50 day and 200 day MA all are within a whisker of present share price at 23.5p Volume low recently.
RSI marginally above 50.

Would this suggest to someone who knows more about charts than I do that we may see a significant move shortly ? If so, which direction ? !

[unisave2] 09/8/2006 16:22

see referance to Loanmakers Holdings,in this text which gives an idea why PBH is undervalued


This alternative to bankruptcy requires an individual's creditors to agree that half a loaf is better than no bread at all, and to accept staggered repayments of a proportion of the monies due to them. The IVA has been around for almost exactly 20 years. But the key to the opening up of this market commercially was a 2003 change in legislation that removed the need for a debtor to apply to a County Court before taking that course. So was born a corporate sub-sector - and one with seemingly limitless horizons at that.

It was only in April that Debtmatters gave a pre-close update in respect of its maiden March 2006 full-year period; it completed a record 554 approved IVAs. The final accounts themselves showed revenues of nearly 8 million pounds, over three-times those of 2005, producing a pre-tax profit of 2.8 million pounds, and EPS of 8p. The company doubled its share of the IVA market to 14%. It based this calculation on the number of IVAs registered with the DTI, which had also doubled in 2005 to 20,000, and is expected to double again in the current year.

Not wasting much time, just last month came the proposed acquisition of Loanmakers Holdings, for which Debtmatters paid an initial cash consideration of 10 million pounds, funded by bank debt; and also entered into an agreement to pay deferred consideration based on an earn-out multiple over the 24 months, which probably means it will have to shell out £9m more.

Founded only in 1999, Loanmakers is an FSA-registered business operating as an intermediary between borrowers and loan providers, collating the information needed to submit a loan application to the loan provider. The main leads come from IFAs and mortgage brokers. Loanmakers shares its commission with the introducer of the business. Proprietary software oils the wheels.

In the year to December 2005, Loanmakers achieved a pre-tax profit of 1.0 million pounds.

Given the vast thickets of financial regulation which cover adjacent territories, the sector has got off lightly so far. Although IVAs can only be administered by Insolvency Practitioners - individuals licensed under the Insolvency Act 1986 – this hasn't notably hindered either the growth in throughput or the successful drive for a rise in turnover-per-employee.

[unisave2] 09/8/2006 16:15

"Insinger believes the Individual Voluntary Arrangement sector continues to have investment attractions and reiterate their buy recommendations for Debt Free Direct (DFD.L), Accuma (ACG.L) and Debtmatters (DEBT.L). "

[baggywrinkle] 09/8/2006 13:23

I would be happier to see this business dealt with by PIM, who can place their mortgages with Prestbury Financial, free of risk to PBH. That should leave Prestbury Financial ARs free to focus on building vanilla mortgage business.

I am sure that PBH management will wish to minimise the risks for PBH.

[unisave2] 09/8/2006 13:07

ar's are currently turning away about 15 cases per month which go to IVA specialist, assume prestbury would hire Insolvency Practitioner in house to build up the business, at time of floating this year www.debts.co.uk only had 4 practitioners in house

[baggywrinkle] 09/8/2006 12:56

Must admit to some concerns that getting involved with time consuming IVAs may distract managements + ARs attention away from the all important task of building up throughput of plain vanilla mortgages to say sales of £1M per month at a 20% margin.

[unisave2] 09/8/2006 12:26

if they enter IVA market then they will need rerating at least, have you seen debt free direct, debts.co.uk, accuma, debtmatters and debts.co.uk ratings?

Prestbury looking cheap.

[Abuse team] 09/8/2006 11:31

Post removed by ADVFN

[mrsasal490] 09/8/2006 11:30

Mmmm

sell 37.5k at 23.7p, only buy 5k at full 25p (selftrade). Someones nibbling away at the share deficit. Is the cup n handle chart now complete ?

[superflyer] 03/8/2006 11:15

IVR Treatment?

[unisave2] 01/8/2006 16:33

what do you think about Lee entering IVA market?

[james 2] 01/8/2006 12:10

baggy - Thanks you are indeed correct the £100k ---> £51k isn't an apples with apples comparison. {AR firms v Registered selling advisors].

Have edited accordingly.

[baggywrinkle] 01/8/2006 11:44

J2 - believe sales per AR should be £77,000 per year.
(H1 sales 4,824,000 divided by 125 AR firms (today) = 38,600 for six months or 77,000 per year)
We have 125 AR firms with total of 186 registered selling advisers if I have understood correctly.

[james 2] 01/8/2006 09:27

Maybe Dec/Jan time is slow given the time of year ? certainly they announced profitability to Oct 05. H106 Sales & margins were done on H205 so could be the case - Any idea of what the expectations for BSure are ?

Income per AR is worrying as Lee previously reported It is my target that each Appointed Representative firm should generate #100,000 of income per year and I can confirm that our current number of appointed representative firms are writing this current level of business. now we see £77k per AR firm.

Even their cautious targets are beginning to be missed all too often !

[mrsasal490] 31/7/2006 17:49

Thought we were all on the understanding that PBH was turning a small profit last Oct Nov dec onwards, so surprised to see it only in feb march april, Lee's target of 100k for AR's is a long way off as well, only 51k, have to sit tight a little longer then.

Where is everyone !!!!

[unisave2] 31/7/2006 16:18

entering into lucrative IVA market, this should help get rating alongside Debt Free Direct and recently floated debt.co.uk

Prestbury won't have usual marketing costs associated with IVA as their advisors are already turning away a couple of dozen IVA's per month already

[mrsasal490] 31/7/2006 10:20

Have spoken to Lee today and says the results will be out later today or first thing tuesday. Lets see.....

[mrsasal490] 27/7/2006 09:14

yeah full of wizards and scary tales is alderly edge

[growthhunter] 27/7/2006 00:01

anyone thinking of investing.be warned..........stay off the alderly edge

[baggywrinkle] 26/7/2006 17:54

fwiw the share price rise last week produced a buy signal for pbh on investtech.com