Superficially attractive but struggling to see an outer for the locked in value. FWIW, my view is that it is a fundamentally solid business that is configured as a lifestyle operation with a strong insider/connected holding and low yield to deter outsiders. Can easily be made more attractive to external investors but for the moment, doesn't seem to be in their interest. I considered a decent sized holding but on reflection, thought better of it. Easy to get drawn in to a hostile situation as a minority shareholder in a sleepy company and I am not interested in a fight. Easier money elsewhere but might be worth tucking away some in a drawer with the hope of a future special dividend or similar outer as the principals age. |
net cash was 12.8m and market cap is now 5.4m..... |
all very depressing here..... |
Sorry, didn't see your reply or reposte.Who owns these assets, is it the half commission men, or WC?Are there any gremlins or nonstandard assets?What is the PI situation like?If WC wants to attract long term investors... |
I actually bought the shares that led to the price rise. My purchases are usually the kiss of death to shares! |
Yep, I've had to go for a lie down |
machine must be broken, is this going up...?! |
Was looking at these for a meaningful stake. Really good bones but very sleepy. Gave up the idea - put off by the long-held, connected insider control which means it would be nearly impossible for a new stakeholder to try and nudge them along. |
But they do have around £4bn of assets under management and administration. That is worth a good deal. |
Never been a holder but back in the day had the odd refreshments with some of the dealers...Clearly no strategy, vested interests at play, unknown liabilities, I am guessing ageing client bank too, and some client banks have walked off else where. High governance costs relative to the assets? The world changed but WC didn't. Possible residual value in being acquired by a Fintech wanting a traditional name.Sad... |
I'm way too underwater to sell out at the moment and I think I'll get 12p a share back anyway, but I'm not sure I trust the Lim's. |
I'm out. Its been painful to sell shares at this price, but having watched what happened to W H Ireland, I don't want to see the same thing happen here.
There is value in Barker Poland and the emerging Financial Planning business, but right now they appear to be shackled to a business burdened by a high cost compliance function, a reliance on self employed advisers and needing to keep interest on clients cash.
All while markets have hit new highs. What about when they fall again?
They may resolve this, they may extract value from those assets, but when and to whose benefit? The risk of delisting just went up considerably imo with this new non exec appointment.
Good luck to those who hold |
I don't think he's independent at all. |
Another non exec resignation, and a new non exec announced, but I'd like to know if they're considered independent given they work for Philips capital and therefore presumably have a relationship with the major shareholder |
And all less than the turn they make on client cash.
Should regulators forbid that, or should rates fall, what then? |
From the half year accounts, a loss of £1,089k, but including non-recurring £1.2m for updating regulatory and compliance framework, also £823k for increasing the provision? Reversing these out would be a £937k profit.
Am I reading this right?
Yes, they'll be more non-recurring costs for the legacy suitability issue in the full year. |
12/13p.....truly staggering |
Is WCW really only worth £5.5m |
Agree and in a world of consolidation I just can't believe nothing has happened here.......catalyst? |
I've just been looking at last year's subsidiary accounts at Companies House.
Barker Poland made a profit of £500k, that's worth at least 10p a share.
The investment management business made a profit of £400k after charging £700k of Director's fees. That's worth another 25p a share at least.
Then there is 25p-30p a share in cash.
These must surely be worth substantially more than 15p a share? |
What a depressing set of results. The company is spread too thin on too many divisions and structures.
And no mention of the ongoing shortfall on the board.
There are positive trends underneath; less reliance on self employed commissions, less income from clients' deposits and financial planning moving towards profitability, but I suspect there's a lot more pain to come. |
Outsourcing is clearly a good idea, let us hope the regulatory aspect now has been covered off, revenues/gross profits absolutely fine...... |
Yep rubbish but still mkt cap is less than cash |
Bad results as usual! |
Well, won't be long before the interims, 7am RNS on Christmas Eve..? |
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
Hot Features
Premium
