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Given macro headwinds no surprise to see the profit warning today. No quantum given. However with further interest rate rises on the horizon, housing mkt in the doldrums how can management be confident that profit growth will return in 2024 as stated?
I am watching this with interest. I believe 50% revenue is Financial Services and 50% Property (of this 50% Property, 80% is Lettings and 20% Est Agents). I believe 60% gross profit is from Lettings. Happy to be corrected should others have input. The Lettings profit should be resilient….
However, I believe there is £8.2m loan to be repaid, £445k in Dec22 and £7.8m in March 23. Cash at 30th June of £5.7m stating to be repaid from cash but may possibly need to refinance?
Any input from others?
BB2
Did Blv set off on a mortgage buyer spree at the wrong time. Near guaranteed that BOE will have to again raise interest rates & further choke off mortgage approvals/affordability. BLV CE does a great job communicating at potential shareholder events. But this is a major headwind for the 22% of the business that was largely incremental .Letting as others say should be more resilient but even here with diminishing stock more folks will stay put & so less churn than BLV would like. It will need to go below £1.50 to tempt.
Expecting a positive TU very soon.
Spate of house news hits the TV today - hence the mini sell-off.
However, BLV
- c78:22 split between lettings : house sales. Thus, much more resilient than typical estate agents.
- SP already at a 18 month low.
- WINK recently announced an "exceed expectations" TU
- FOXT showed strong performance
- Finncap expect them to continue achieving their targets - https://www.proactiveinvestors.co.uk/companies/news/991773/analysts-at-finncap-note-that-belvoir-s-interims-show-continued-benefits-from-its-direct-and-indirect-investments-991773.html
Just to let shareholders and prospective investors know that Belvoir will be exhibiting and presenting at the MelloLondon investor conference on Wednesday 16th November 2022. The event will also feature top quality keynote speakers such as Lord Lee, Katie Potts, Andy Brough, Gervais Williams and many more. You can also expect educational workshops and panel sessions; 50 exhibiting companies; and over 100 company presentations.
For more information, click here: Https://melloevents.com/mello-london-tickets/
Tickets for 1 day are £99 and tickets for 2 days are £159. To get 50% off, use code MMTADVFN50. Https://www.tickettailor.com/events/melloeventslimited/749087
this mainly does lettings, go short a hosuebuilder instead
https://www.theguardian.com/business/2022/oct/07/fear-panic-housing-market-bishops-stortford-mini-budget-mortgages
> The phone has all but stopped ringing at Mullucks estate agent in Bishop’s Stortford – except for calls from buyers with bad news about collapsing chains.
Belvoir hasn't dropped nearly enough for the coming collapse in demand for housing that is around the corner imo. All of the housing stocks have collapsed due to this.
Housing market is way overvalued in all developed countries and the rate increase is the catalyst.
I was long at £1.2 a share and will buy again once they collapse to this share price again.
I am keen to know after recent financial turmoil in the markets what it means to Belvoir and government announcements on housing so should be interesting.
https://www.sharesmagazine.co.uk/events/event/shares-investor-webinar-12102022
Ouch, spoke too soon. Revenues up slightly but costs up 29% & profit down 16%. This won't go down well in the current climate I'm afraid. Need to focus on managing the new business before looking at further acquisitions now IMV.
Another strong performance here in the first half, revenues up 11% on an exceptional 2021 and trading in line for the full year. Decent yield for a growth company at these levels too. Sooner or later this will re-rate to reflect the excellent progress being made by management. Look forward to seeing half-year results on 5th September.
Half-year trading update due here, possibly as soon as next week. Could this price move be in anticipation of more good news from BLV? They rarely disappoint...
Belvoir is exhibiting and presenting at Mello2022 Investor event on Wednesday 25th May at the Clayton Hotel & Conference Centre, Chiswick, W4.
The three-day event breaks down as follows:
Tuesday 24th May, 9am - 6pm - Mello Investment Trusts and Funds (MELLO IS GIVING AWAY 20 FREE TICKETS TO THE TRUST AND FUNDS EVENT - THE FREE CODE IS FIRST20TF)
Wednesday 25th & Thursday 26th May, 9am - 6pm - Smaller Growth and Mid-Cap Companies (Tickets for 1 day are £115 and tickets for 2 days are £189. To get 50% off, use code MMTADVFN50).
Just to let shareholders and prospective investors know that BELVOIR will be among the companies discussed on the BASH (Buy, Avoid, Sell, Hold) panel on Thursday. To get a £40 ticket to Thursday's event, use the code M2240. There will also be keynote speakers such as Lord John Lee, Leon Boros, Andy Brough, Rosemary Banyard, Clarke Carlisle and Gervais Williams.
For more information, please visit the event webpage: Https://melloevents.com/mello2022/
- Mello Investment Trusts and Funds (WE ARE GIVING AWAY 20 FREE TICKETS TO THE TRUST AND FUNDS EVENT - THE FREE CODE IS FIRST20TF)he event webpage: Https://melloevents.com/mello2022/
Another exciting-looking deal engineered by Belvoir, adding more mortgage advisers and a profitable business. They'll have to go some to maintain their record of increasing profits year-on-year after last year's impressive performance but this looks to be just the right type of acquisition to give them a chance. No raise needed either which is always a bonus for holders.
It looks a good time for Dorian to present as I have been a keen watcher of Belvoir .Will be keen to hear an upbeat presentation and what next ?
https://www.sharesmagazine.co.uk/events/event/shares-investor-webinar-280422
Following it's original "Buy" recommendation on 10th June 2021 at 235p, Shares Magazine today suggests that readers "Keep buying." "The tightness of the rental market and the continued strong demand for new housing and finance mean the group is perfectly placed to cover each aspect of the property market both directly and via franchisees." K.
Another interesting acquisition for BLV announced this morning. Not easy to work out if/how much this relatively small buy could impact the share price going forward hence, I guess, no reaction on the market this morning. Massive potential though, in my view, given 2-3 years to develop within the existing business.
Just to let shareholders and prospective investors know that Belvoir, TPX, HeiQ plc, LoopUp plc, Polar Capital Global Financials Trust plc and ThruVision Group plc will be presenting at the Progressive in conjunction with Mello Events webinar on Tuesday 7th December 2021 at 5:30pm.
The programme is as follows:
5.30 pm Welcome
5.35 pm Presentation by TPXimpact
6.05 pm Presentation by ThruVision
6.35 pm Polar Capital Global Financials Trust plc
7.00 pm Presentation by LoopUp
7.30 pm Update from Belvoir with Q&A
7.45 pm Presentation by HeiQ
Tickets are FREE! Click here for more info: Https://melloevents.com/progmello7thdecember/
Belvoir’s CEO and CFO, Dorian Gonsalves and Louise George, will be presenting their trading update followed by a Q&A session at Mello at 7.30pm on Tuesday 7th December. To register for the Mello event, go to https://melloevents.com/progmello7thdecember/
BELVOIR GROUP (BLV): CORP
Long-term growth strategy sees a shorter-term boost
Belvoir’s H1 2021 results are exceptionally strong, with adj. EPS up +50%. They were, of course, aided by a very buoyant hous ing market, but this does not detract from the strategic progress the group continues to make. The group’s growth strategy has supp orted 24 years of unbroken profit growth and, while 2022 will likely see cooler market conditions, there are increasing signs it will be a gradual return to more normal conditions. The acquisition of Nicholas Humphreys in H1 and The Nottingham Building Society’s mortgage services business in H2 provide excellent growth prospects, and we highlight in particular the potential from the Financial Services division both externally and from selling more into the Belvoir network. The shares have performed well as the group’s ability to first weather the pandemic and then quickly take advantage of opportunities have been proven alongside the highly attractive financial characteristics of the franchise model. The shares are valued at a 2022E P/E of 14.9x (a 33% discount to the small/mid cap market), a 3.1% dividend yield and a 6.9% free cash flow yield (this point being the most relevant in our view). We have upgraded our target price to 365p, offering 30% upside.
No idea???
Does anyone know why the sp taking a huge dive without any news?
More positive news for BLV. Having originally tipped the share at 235 in June, Shares Magazine says in today's edition:
"With lettings and now sales recovering, the future looks bright. Keep buying the shares."