Walker Crips Share Discussion Threads

[chrisdgb] 03/12/2021 08:17

Are we due some results...?

[spob] 23/11/2021 23:06

All "assets under management" are not created equal

[davydoo] 23/11/2021 10:41

Although it's worth noting that Barker Poland is not performing as well as might be expected, When the acquisition was announced in 2015 they quoted £1.5m of revenue in the year ended March 2014.

Given their income is related to AUM, and given what markets have done in the last 7.5 years you would expect, income to be up more than 25%, and that's before any new clients

[balcony] 23/11/2021 10:36

Unable to buy online this morning,20k buy at 8-05 may have cleared a line of stock.

[davydoo] 23/11/2021 10:16

They should make a lot more than they do.

Look at Barker Poland results that have more prominence within this years annual report than previously.

c. £320m AUM, £1.9m revenue and £400k profit

Similar to lots of firms of that smaller scale.

Multiply that up to the £3.5bn total, or just take the margin, and group profits should be much higher

[eezymunny] 23/11/2021 09:10

Why don'y they make more profits? A matter of scale?

The AUM are significant, but is is a lot of that non-revenue generating, sat in share dealing accounts or similar?

[davydoo] 23/11/2021 08:58

Wish they'd stop pretending they are a fintech though, huge distraction of time and resources from a company without sufficient scale to do so

[arthur_lame_stocks] 22/11/2021 17:45

Hi all

It's nice to see some value investors here. I think we all agree that this is cheap, now all we have to do is accumulate whilst it remains so and wait for the value to out, hopefully in a trade sale/takeover for a whopping premium.

[davydoo] 22/11/2021 16:24

Barker Poland alone is worth over £5m, add the cash, and the rest of the business is essentially free

[chrisdgb] 22/11/2021 15:04

Agree with all this, it is one of very few situations trading at a materially different factor to where it should be......

[value hound] 22/11/2021 14:35

Hi RM and Arthur. For once, I fully agree :-) and bought some last week at 30.15p. It's a tough one to value accurately IMO, but I don't intend to sell any sub 50p (m/cap £21m). But even that would be an absolute drop in the ocean compared with the valuation mooted for Succession Wealth as Arthur has pointed out in the link above; £8bn assets managed = £400m, WCW has £3.4bn AUM, valuation now <£13m (a little over NTAV); simplistic perhaps, but still...!

[rainmaker] 22/11/2021 14:10

From the Walker Cripps annual report, released 20/8/2021-


"I mentioned earlier that it has been pleasing to see an improvement in management fee income as markets have recovered. Total Assets Under Management and Administration ("AUMA") averaged GBP4.9 billion during the year, compared with GBP5.0 billion in the previous year, affected by the collapse in equity markets in March 2020 due to the onset of the global pandemic. Discretionary and Advisory Assets Under Management were similarly impacted by the market decline, though recovered by end of the year to GBP3.4 billion (2020: GBP2.8 billion). Total AUMA is up 24% from March 2020 levels to GBP5.4 billion (2020: GBP4.3 billion)."

Remember that their market cap at the current share price is just £12.60mln

AIMHO, DYOR as I have done mine

regards

[rainmaker] 22/11/2021 11:44

Hi Arthur and Co, I have been buying Walker Cripps(WCW) this morning, adding to my holdings and in many years of Stockmarket Value Investing, I cannot remember another Company that is both so massively and obviously undervalued. I'm going to be buying a lot more as IMHO at current levels its a gift or early Christmas present:-).

AIMHO, DYOR as I always do mine

regards

[arthur_lame_stocks] 09/11/2021 11:05

I agree and bought some more this morning. If the price stays this low I will buy more as and when funds allow.

[chrisdgb] 09/11/2021 10:56

Good spot, if anyone wants to do the maths, it is eye watering.......

[arthur_lame_stocks] 09/11/2021 10:27

Found it!

hTTps://news.sky.com/story/wealth-manager-succession-joins-industry-deal-rush-with-400m-sale-plan-12464083

[arthur_lame_stocks] 09/11/2021 09:53

There was an article on MSN this morning which I can't find now about a wealth manager with £8bn under management which has put itself up for sale at £400m.

That makes WCW look dirt cheap if those sorts of prices can be achieved.

[chrisdgb] 28/10/2021 13:31

Remember the Charles Stanley valuation over the summer would make this 115p per share.....even if you think it is not quite the same business, still a massive gap..

[chrisdgb] 27/10/2021 09:45

Asset markets continue to be strong, remember deals done in the sector mean this should be at least a £1 per share..........my most undervalued holding but as ever patience!

[chrisdgb] 14/10/2021 06:56

With interest rates finally about to rise, should provide an income boost here in the coming years....

[chrisdgb] 17/9/2021 12:54

So many deals in the sector, the bigger shareholders should sell this......

[gbenson1] 08/9/2021 12:30

Can't buy anymore than £500 worth of stock @ a fixed price with iii.!!

[chrisdgb] 07/9/2021 11:42

More 'nibbly' buying, this is simply way too cheap......

[chrisdgb] 25/8/2021 07:27

Some nice buying yesterday.....

[baddeal] 20/8/2021 21:18

Announcing results at 15.40 on a Friday afternoon. There is financial pr for you!