W.h. Ireland Share Discussion Threads

[tradingplaces85] 16/2/2018 22:02

I am new to trading. Can anyone help me understand the profit 3-4 years ago pre tax was 16.5 million or so and the three years after the profits have fallen and the share price has gone up? Also if they are not making the same amount of profit how is the equity similar several years later and assets are the same along with debt. Any help would be greatly appreciated to try and get my head around this. Thank you!!

[darrener] 13/2/2018 08:50

Shares up c.20p in 2 days on small volumes???

[speedsgh] 05/2/2018 12:16

Update on WHI by Simon Thompson today...

Enlightening calls -

... I can see two scenarios unfolding here. Either a combination of bolt-on acquisitions, and a strong return to profitability on the private client side will drive a share price rerating, or WH Ireland will become a bid target given. Equity Development's sum-of-the parts valuation is almost double the current share price, highlighting the low valuation being placed on its private wealth management business. So, having first advised buying the shares at 68p ('Broking for success', 1 August 2011), and last reiterated that advice at 152p (‘Exploiting value plays’, 25 July 2017), I feel my 175p target price is not only reasonable, but likely to prove conservative. Buy.

[gargoyle2] 23/1/2018 07:25

Polygon and Oceanwood taking a big chunk of that placing. Looks like KEH not participating though, which is disappointing.

[gargoyle2] 19/12/2017 06:34

Polygon seem to think so.

[deadly] 15/12/2017 20:27

Nice TS:

"Costs associated with the transition to the new model and MIFID II regulatory changes were higher than anticipated and these exceptional costs have adversely affected profitability in 2017. Duplicated costs incurred during the period will decline significantly in 2018 benefiting future profitability.

The Private Wealth Management division has continued to transition the business from an execution, commission based model to a discretionary, advice driven fee model. The discretionary investment proposition continues to grow and fee income across the division has risen by in excess of 15% compared with the prior year. Of particular note has been the success of our Wealth Planning team which has seen growth in revenue of approximately 40% over the same period. The overall quality of our investment business continues to improve as we actively reduce the number of client relationships ( and the assets attached to those relationships ) from whom we have historically generated a very low return. This trend will continue into 2018."

[gargoyle2] 17/10/2017 17:38

Wonder what that agreement with Polygon is about. My guess is that Polygon was threatening to cause trouble (in terms of not approving shareholders' resolutions, etc.) if it was diluted by new share/option issues. They hold more shares than KEH now, so can probably block any shareholders resolutions -- especially if they have some voting agreement with Oceanwood. I wonder if this puts any pressure on KEH to make an offer? The management and the ESOT won't be too happy about not being able to get cheap shares.

[gargoyle2] 26/9/2017 12:48

Price still falling -- hoping it will find support at 120p. Some pretty chunky sells going through, although still no negative news as far as I can see. Hoping it's not Polygon or Oceanwood selling out.

[gargoyle2] 19/9/2017 13:59

Disappointing price action over the last couple of weeks. Haven't seen any negative news, and no trading volume to speak of. Down 4% today on about 5 grand worth of shares traded.

[gargoyle2] 25/8/2017 18:38

Can't be long before KEH makes an offer for the whole company imo. With costs of regulation going up, why wouldn't they combine it with their investment in Armila Capital (also FCA regulated and where Humphrey Percy is CEO)? The share price now is only a touch over what they paid for their 23%, and I can't see Oceanwood (15%) or Polygon (25%) sitting around without agitating for a full bid. All imo.

[x54v] 25/7/2017 11:08

Just been tipped by Simon Thompson. He mentions that Equity Development give a valuation of 259p per share.

[deadly] 24/7/2017 17:53

Good results!

[cwa1] 27/6/2017 08:57

Ah, thanks ME, appreciated.

[master esox] 27/6/2017 08:01

Yesterday, Simon Thompson IC Online re-iterated his buy stance. This will have helped.

[cwa1] 27/6/2017 07:23

SP been reasonably perky over the past few days. Delayed response to decent TS....broker upgrade...share tip-anybody seen anything specific?

[chrisdgb] 21/6/2017 08:33

turnaround well underway in my opinion..........

[meijiman] 21/6/2017 08:09

Its not so significant if you are coming from a low base or a loss making position. The release is long on waffle and short on numbers but may well herald better times ahead.

[cwa1] 21/6/2017 07:30

Is it my imagination, or is that not a fairly buoyant trading update?



The first six months of the financial year has seen further significant progression across the Company, with both divisions reporting strong momentum both in absolute terms and also relative to the comparative period a year ago, and the first half figures will show a significant improvement on those for the previous year.

I counted no less than THREE uses of the word significant in the whole update-and none of them used in a negative manner!

Does anyone know if there are any current broker forecasts out there and, if there are, what sort of numbers they expect for this and the following year?

Thanks for any input.

[gargoyle2] 31/5/2017 13:11

"Under the terms of the JSOA, Adam Pollock has an option to acquire the ESOT's interest in the JSOA Shares for nil cost at any time between 30 May 2020 and 30 May 2027 provided certain performance conditions are met based on achieving group and divisional profit targets"

Frustrating that they don't tell the shareholders what those performance conditions are. Contrast that with the terms of Killingbeck's and Cowland's deals with the ESOT, where the exercise price of their options to acquire were clearly stated in the relevant RNS. Their deals depend on the share price at certain dates, rather than performance targets, but there should still be no reason why Pollock's deal can't be disclosed imo.

[mctmct] 23/5/2017 08:32

just over 1% dilution, so in the noise so far as valuation and share price is concerned, IMHO. But I don't like LTIPs unless they are treated equally with other remuneration.

[gargoyle2] 23/5/2017 06:20

Can that be correct? 300k shares issued at 5p a share? That's pretty outrageous dilution imo. I guess it must have been approved by the major shareholders though.

[gargoyle2] 02/5/2017 15:45

Nice to see Polygon remaining keen here. Another 100k at 135p. Over 25% again.

[mctmct] 22/3/2017 09:36

Sudden drop on low volume today - does anyone here have L2 and can tell us what the book looks like?

[gargoyle2] 02/3/2017 07:15

Polygon increasing significantly since their last holdings announcement. Good sign. Looks like they are hovering up any sells.