W.h. Ireland Share Discussion Threads

[danieldanj] 16/7/2018 03:19

W.H. Ireland (WHI) Earnings-Reaction to Keep an Eye

[gargoyle2] 22/5/2018 06:27

Simon Thompson at IC to the rescue yesterday. anyone have the text of his mention?

[meijiman] 18/5/2018 22:06

All it needs is a bit of dosh

[gargoyle2] 18/5/2018 19:17

Equity Development pretty quiet these days. Where's their usual ridiculous sum of the parts valuation?

[gargoyle2] 17/5/2018 07:21

Yet another 'the benefits will come next year' statement from WHI.

"Investment costs in regard to the operational platform changes have remained higher than expected during the final four month period, primarily as the resolution of legacy issues has taken longer than anticipated to complete." What on earth does that mean? Management really don't seem to have a handle on the costs at all here.

Expect another fund raising soon imo. The major shareholders should be asking Killingbeck to consider his position. He's had long enough to turn round performance here.

[gargoyle2] 18/4/2018 07:44

Should be a trading statement pretty soon -- it's been 18-20 days after the year end in the last few years. Recent drop has been on pretty low volume, so I'm hoping nothing untoward to report, although you never know with WHI.

[gargoyle2] 05/4/2018 13:23

Time for another placing at 120p?

[gargoyle2] 05/4/2018 08:34

Anyone know why the weakness the last few days? (Other than there being a seller or two.) Thanks.

[edmonda] 01/3/2018 08:45

Bit of WHI history in here for you and others, plus updated valuation views.

Full research note just published by ED

Free to access at:
…

[tradingplaces85] 16/2/2018 22:05

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!!

[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 18:38

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 13:48

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 14:59

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 19:38

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 12:08

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

[deadly] 24/7/2017 18:53

Good results!

[cwa1] 27/6/2017 09:57

Ah, thanks ME, appreciated.

[master esox] 27/6/2017 09:01

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