Share Name Share Symbol Market Type Share ISIN Share Description
S & U LSE:SUS London Ordinary Share GB0007655037 ORD 12 1/2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -25.00p -1.07% 2,315.00p 2,300.00p 2,330.00p 2,330.00p 2,300.00p 2,300.00p 1,000 16:35:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 60.5 25.2 170.7 13.6 277.53

S&U Share Discussion Threads

Showing 1401 to 1424 of 1425 messages
Chat Pages: 57  56  55  54  53  52  51  50  49  48  47  46  Older
DateSubjectAuthorDiscuss
07/12/2017
13:46
There is 'slight' increase in the impairment charge but you have to see this in the context of a family that has been running a credit business over the cycle since 1938 (and motor finance since 1999 with profits up every year). Conservative provisioning is part of this success. Come next year-end you will be able to compare how this charge compares with what is actually written off. Any excess will bolster reserves for the future. At some point the downturn that is perennially predicted will arrive. It may be next year, it may be the year after or whenever. Macro variables are notoriously difficult to forecast. My investment in SUS is based on confidence in the management's outstanding track record in not only growing the business but anticipating and managing the credit cycle.
jombaston
07/12/2017
11:58
If the population is growing by 300k per year, shouldn't you expect record employment? Still, adjust GDP growth for a workforce growing 1% per year and the economy has been flatlining for a couple of years, hence Claimant Count creeping up and very low productivity figures and wage rises as the hours worked trend eased. Some unemployment is hidden in part-time employment and self-employment. These have both been increasing in recent months since it can pay better than being on Claimant Count. If you allow for these, the underlying UK employment trend probably stopped rising through 2016 and started creeping down through 2017. This weakening trend can only remain hidden for so long and will show itself more obviously soon. You can see a similar trend in car sales and van sales. Van sales tie in with how the UK small business economy is doing. You can see a graph of van sales below. Car and van sales seem tie in better with people getting out of work benefits on Claimant Count than they do with the insufficiently sampled ILO telephone poll. Car and van sales were both down over 11% last month and the trend has deteriorated through 2017. Such large falls historically have been consistent with recession. GDP figures first estimates notoriously overestimate growth at the start of recessions and see signicant downward revisions over ensuing years - revised down by over 1% per quarter at the start of the last recession from first estimate to last. https://www.smmt.co.uk/vehicle-data/lcv-registrations/
aleman
07/12/2017
10:05
Ok how do you counter the fact that there are more people in employment than ever before ...so more need cars
buffetteer
07/12/2017
09:44
Claimant Count bottomed at 716,700 in Feb 2016. In September 2017 it was 806,100 - up 12.5% from the low. These are people claiming out of work benefits. The ILO survey is a telephone poll for households where responses might be untrue. Analysts recommend using the Claimant Count for regional trends because the ILO survey is not accurate enough due to insufficient sampling. Does it really feel like unemployment is at a record low or does it feel like things have gone right off the boil since early 2016?
aleman
07/12/2017
07:51
That’s not how I read it . They are doing v well and the outlook is fine . It’s all about jobs - if employment remains high the demand for necessary transport will too . With record low unemployment SUS will continue to perform
buffetteer
07/12/2017
07:21
Trading statement out https://www.investegate.co.uk/s---38--u-plc--sus-/rns/trading-statement/201712070700036235Y/ More caution than usual - although management always are cautious - Possibly pale pink warning flags but (imo) nothing serious - Major drivers will be macro-economicss and political landscape - Other views ??
pugugly
06/12/2017
11:39
Interims tomorrow
plasybryn
10/11/2017
13:52
Positive movement in the share price since the start of the month, hopefully indicating a change in sentiment(at last).
firtashia
20/10/2017
15:35
I've bought a small opening position here. Its a quality company that should do reasonably well in the medium term as its soundly managed. Unlike some other lenders!
topvest
09/10/2017
11:11
Hoping this hasn't been posted before. Edison analysis:- http://www.edisoninvestmentresearch.com/research/report/su769468/full Snippet:- Outlook While there is regulatory concern over the growth in consumer lending in general, including the overall motor finance market, S&U does not offer PCP contracts, which have been the main source of growth and concern in this area. With most of its lending being used to fund used cars (average loan c £6,200), which provide customers with transport to work, S&U sees its main risk exposure as being to a worsening of credit conditions generated by higher unemployment rather than a fall in motor residual values (see page 5). Meanwhile, although unit sales of second-hand cars have softened, there is still scope for S&U to gain market share (from c 1%) and it reports robust and good quality demand. Valuation: Still cautious Taking into account our peer comparison and a valuation based on an ROE/COE model, we maintain our valuation at 2,700p per share suggesting significant upside from the current share price. Reversing the ROE/COE calculation suggests that the current price is factoring in a cautious cost of equity of nearly 12%.
cwa1
28/9/2017
20:21
I will join the speculation as to why the share price has reacted the way it has. Boringly predictable? I still welcome views and opinions and won’t judge. My primary reason for my initial and subsequent modest purchases was always income and dividend growth. It continues to meet (and has probably exceeded) my expectations so I will continue to enjoy those returns. This could eventually turn out to be my first ever 100% yielder. For explanations, please refer to Warren Buffet. Like all great investments (and I haven’t made many), I only wish I had purchased more at 3 quid. Ah well, thems are the breaks - and regrets.
chrismcglone
26/9/2017
18:59
westcountryboy, I wasn't shooting the messenger, I was shooting the message! (at least the opinion expressed by you without much evidence). I agree with Haywards26 that the recent weakness is all around the market lumping all 'car finance' together, despite the company specifically pointing out that they are not involved in PCP finance which is where any perceived problem is supposed to lie. I don't know about the last 3 years; I have held since 2001 and the principal reason I bought them was dividend yield. The board have continued to reward shareholders through thick and thin via a maintained and growing dividend (though it was touch and go at one point when the divi was barely covered), and I am happy to hold during 'quiet' periods as they pay me a good income for my patience. If only more Boards considered their shareholders' interests so well. I have been increasing my holding at these levels.
jeffian
26/9/2017
11:32
The weakness could be as simple as S&U being tarred with the general car financing/HP market generalizations surrounding the potential future bubble burst effect, without understanding S & U's true business model etc
haywards26
26/9/2017
10:49
Hi jeffian - don't shoot the messenger! I am just looking for explanations of share price weakness. What is your reasoning as to why the share price is lower than it was 3.5 years ago? cheers WCB
westcountryboy
26/9/2017
10:33
www.compoundincome.org/blog/a-couple-of-cheap-growing-small-caps
tudes100
26/9/2017
10:06
I don't accept that. How can the car finance market be any riskier than the unsecured doorstep lending they were in before?! Most people would rather give up anything than their homes or their car - the two areas SUS is now focused on - so if anything I would have said their market is now less risky not more.
jeffian
26/9/2017
09:56
Well it's a large holding for me too, though I am not really in love with it because it's some time since it has made me proper money :-( Thinking on why the share price has not done better since the disposal of the main business three years ago now, one thing that leaps out is the increase in debt. For many years the old business chugged alone with about £20m of net debt. Now it is up to £80m, though admittedly there is some seasonality and one would expect it to fall a bit by the end of Full year. The amount lent out, which is the great bulk of the non-current assets, is much larger than the total under the old business, though there were then two divisions. So yes EPS has grown reliably and with it the dividend which has doubled in five years. But this has become a less conservative company and though the directors restated today their belief that the business is stable and can grow for many years, clearly the market regards this degree of exposure to the car finance market as riskier than was the case with the old company, and less certain to keep expanding through good and not so good economic conditions.
westcountryboy
26/9/2017
06:47
I know I'm not supposed to fall in love with a company....BUT.....
cwa1
26/9/2017
06:43
Financial Highlights · Profit before tax: £14.3m - up 20% on last year (H1 16: £11.9m) · Earnings per share: 96p (H1 16: 79.2p) - up 21% · Revenue increased by 33% to £37.6m on receivables up 31% to £228.6m · Gearing at July 17 is 56% (July 2016: 29%) as £32m invested since year end · First interim dividend increased to 28p per share (2016: 24p per share) Sleep easy with S&U - Back to rest for another 6 months -
pugugly
11/8/2017
18:30
Steady as she goes.
chrismcglone
05/8/2017
22:27
It depends what you mean by "big ticket domestic purchases". "Advantage's average loan size is just GBP6,200" We're not exactly talking about people cashing in their pensions for a Lamborghini here! As I said before, SUS's market is lending to people who can't access mainstream credit markets for the necessities of life - a (modest) car, or whatever. That demand isn't dependent on the latest model or resale values.
jeffian
05/8/2017
20:11
I sense that there's a broader problem with companies that seem to be reliant on big ticket domestic purchases - eg houses and cars. The market now thinks that there will be a significant fall in demand - probably Brexit-induced but who knows? I hold few stocks in these sectors but would be interested if anyone can think of a stock of this kind that is doing well at the moment.
westcountryboy
05/8/2017
17:48
My concern here would be if the market keeps on failing to distinguish and if there is a drift into any PCP announcement Reaction to the results was pretty tepid and seems to be a background seller. Definitely interesting though - watching closely
dan_the_epic
05/8/2017
06:25
Thanks Jeff.Great interview.About time we got back on the upward track.Hope we get a decent dividend announcement increase in Sept.
plasybryn
Chat Pages: 57  56  55  54  53  52  51  50  49  48  47  46  Older
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