Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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IMHO the proposed law is preparation for the parliamentary elections in October - it would give the ruling Georgian Dream a means to crack down on dissent and political opponents (as happened in Russia). If so, they won't drop the proposed legislation except as a last resort. I'm holding - and may even top up if the SP falls below 3000 - but I think it is going to be a bumpy ride!
SP is back into recent trading range for now anyway, share buy back still progressing, dividends still expected
There may also be a decent bounce when they have to drop the legislation, like they did last year. The question is whether it's posturing legislation or whether it has actual effect, if implemented. The more worrying issue would be the gradual drift towards direct Russian involvement in Georgia.
CGEO is down by a similar amount to bgeo
Less than 0.5% shares sold over 2 days. Main shareholder Georgia Capital's shares have risen by 5% since 11.00 am today.
Yep, and comments from the EU that the enactment of this law would be a serious block to Georgia's ambitions of joining the EU. I sold all my shares at 5069p yesterday - annoyed, as was debating selling them at 5550p earlier in the week, but you can never judge these things perfectly. I think that unfortunately there will be further volatility / scope for SP retreat unless/until the progress of this law gets dropped.
This will be it
https://foreignpolicy.com/2024/05/01/georgia-russia-foreign-influence-bill-protests-democracy-eu/
"If passed, the law would require all nongovernmental organizations to declare if they receive a certain amount of their funding from abroad."
I've always thought a lot of Russians put money in Georgia so they won't like it!
Dont know why the share price dropped , here to find out as Google knows nothing ,same with tbc down a similar percentage , going to retake an holding in tbc as I know it better than bog ,both have done well so I assume it's a temporary blip?
Dont know why the share price dropped , here to find out as Google knows nothing ,same with tbc down a similar percentage , going to retake an holding in tbc as I know it better than bog ,both have done well so I assume it's a temoort blip?
Did Russia invade today? Maybe on the border. Big drop in SP anyway.
I know - it's strange isn't it? Compare to the rapid cesspool of stocks like HE1 (where sadly I didn't fare so well!) :)
So rare to see anyone talking about this share.
I'm up about 60pc and the dividend is nice too.
Its been a fairly smooth ride too. Gradual and relentless. Very happy to hold for the long term
...this back above 5000p after the recent "breather". Let's hope it holds here or thereabouts before moving on.
https://www.lse.co.uk/ShareChat.html?ShareTicker=BGEO&share=Bank-Of-Georgia-Group#posting-rules
Shares in Issue 45.59m
Market Cap. £2.30b
Market Size 750
PE Ratio 4.571157
Earnings 1,104.75321
Dividend 123.39306
Yield 2.443%
5000p now 34% better then the 3750p sell on 20th December 2023.
Georgia Capital also on all year high today .
Yep, looks like £50 should be a good base to consolidate, and push back on towards £55 in the coming weeks. GLA
Sold out a chunk above £50, looking to get back in if/when it goes down a bit.
Wealthoracle.co.uk/detailed-result-full/BGEO/832
bank of georgia group plc posted impressive fy23 prelims this morning continuing the bank’s trajectory of robust and very profitable growth. bgeo had 1.8 million monthly active retail clients as of 31 december 2023 up 10.8% y-o-y, operating income was gel 657.2m in 4q23 up 12.4% y-o-y, while in fy23 as a whole, operating income was up 26.4% yoy to gel 2,530.4m. for fy23, profit was gel 1,374.7m, up 21.4% y-o-y, while the bank's basel iii cet1, tier1, and total capital ratios stood at 18.2%, 20.0%, and 22.1%, respectively, all comfortably above the minimum requirements of 14.5%, 16.7%, 19.6%, respectively. so more robust top and bottom line growth with a very solid balance sheet in tow. valuation also remains reasonably attractive for the sector with forward pe ratio at 5.1x top quartile for the banking services sector. the share price also has strong positive momentum. buy...
...from wealthoracle
***************************detailed-result-full/bgeo/832
@Dramchart - exactly!
Happy with the results
Me too. Mr. Market, over-reacting to modest drop in profit mostly owing to costs associated with Ameriabank acquisition, seems to ignore the fact that you can't make omelettes without breaking eggs :)
This section from the y/e report summarises why!
Ameriabank is a leading franchise in the local market - #1 by loans and #2 by deposits - and is the "top-of-mind" banking brand in Armenia, with further upside to grow, especially in the retail and SME segments, leveraging the Group's experience and know-how in digitalisation, payments, and customer experience. I believe this acquisition, which was approved by the shareholders on March 14th, is a great opportunity for the Group to increase scale and unlock further growth. We are set to acquire Ameriabank with our surplus capital, with no dilution for shareholders, and it is expected to be immediately earnings enhancing with an ROE uplift. Importantly, our dividend and capital distribution policy and payout ratio of 30-50% will not change. Considering the Group's strong performance during 2023 and robust capital and liquidity positions, the Board intends to recommend, at the 2024 Annual General Meeting, a final dividend for 2023 of GEL 4.94 per share, making a total dividend for 2023 of GEL 8.00 per share. This is a 5% increase on the dividend for 2022 - a year boosted by significant one-offs and FX income which broadly normalised in 2023. In addition, the Board has also approved an extension of the buyback and cancellation programme by an additional GEL 100 million. This represents an overall dividend and share buyback pay-out ratio for the year ended 31 December 2023 of 37% (2022: 37%).
To be expected, but holding well - still at £50, which we'd have been delighted with reaching only a few weeks ago. Will be interesting to see if positive movement following the investors zoom call at 2pm, which I will try and join if I have time.
The summary all looks very positive to me - maintaining dividend growth, and more share buyback in 2024, all whilst funding Ameribank acquisition which will boost revenue and profits after an already stellar couple of years.