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tipped in shares magazine today,says insolvencies on the way from 1st october,after govt help stopped for firms in trouble,time will tell,but good business on the way for frp hopefully
FRP in the spot light again for not doing a thorough investigation with the administration of Koovs.
Financial times article detailing legal action being taken by shareholders using "red mist" aka Mr Seth Freedman - He singlehandedly exposed the gas price fixing fraud and works on behalf of billionaires and oligarchs in legal cases which he always wins. He even took on RBS and won.
Something tells me this will not end well for FRP.
https://www.ft.com/content/d779d025-a061-4d57-8df9-0ce1520a58e3
Thanks Southcoastbather. that's exactly I thought.
Halimora - sadly your friend has no value in those shares as they were part of the old company.
FRP advisory was itself taken into administration and then the assets were purchased by the Directors inc Mr Goff Rowley - they then brought the company back to the market and re floated the company.
An administrator going into administration itself is some kind of irony hey!?
In a nutshell old investors were wiped out and the board of directors that ran the company into administration picked up the assets for a pittance and then took money off new investors via the stock market for the new company and these are the shares that are currently traded.
Beggars belief how this kind of thing happens.
I hope your friend gets over this loss.
Keep your eye on the financial times tomorrow its going to be a good one for your friend to read.
Asking for a friend of mine who had FRP shares originally which went into administration in 2017. But it still shows on her portfolio as FRP advisory group. so she tried to place a trade which has eventually been rejected with a message 'This stock is in administration and we cannot place this trade'.
My understanding is this shouldn't have been part of her portfolio anymore hence she has lost all the value of her shares? I would appreciate if you could help her out with your opinion. Many Thanks
Bit of a delay on dividend payment, but received on 22nd
Monday will be interesting!!
Yes, I received mine in my HL account on 11 June.
Has anyone received the latest dividend that was due on 11th June ?
I bought into this too early last year having underestimated the impact of the government's financial support programmes. Anyway, back in profit now having held them all.
I still think it is a good business and it is well-positioned to pick-up what must be increased restructuring and administration activity over the next 12 months.
They have continued with their acquisition programme and have capacity to meet higher levels of business. I don't think FRP will shoot the lights out, but it is a nice counter-cyclical play as government support is gradually reduced.
https://www.standard.co.uk/business/frp-advisory-full-year-results-listed-revenues-b935117.html
FY Results scheduled for July 27.
New office Glasgow
https://www.insider.co.uk/appointments/frp-appoints-six-strong-glasgow-23919074
I've just picked up another 10k shares at 102.49p
Restructuring specialists FRP Advisory has been appointed to handle the administration process.
Jessops, the camera retailer owned by Dragon’s Den investor Peter Jones, has 17 stores and the announcement puts 120 jobs at risk. Jones bought the company out of administration in 2017.
I think FRP might attract some of the smaller cap yield funds as the dividend becomes more established.
The price is beginning to move a bit - it deserves more support given its prospects.
The post should have said 'Strong Buy'!
Agreed. There was big volume again today. Almost certainly an institutional investor selling down/out which suppressed the price. I treated it as an opportunity and added to an already decent holding for me.
Very positive announcement this morning.
I have been a holder for a while now and continue to see this as a well-run business which will inevitably benefit from the increased level of restructuring and insolvency as government support for companies is gradually reduced.
Staff utilisation levels are still well below capacity yet results were still ahead of expectations.
The dividend yield is beginning to look attractive and there is scope for a re-rating here.
I still very much stand by my rather long post of August last year - although always do your own research!
Added again as looks like a good income and growth stock at this level. Volumes have been high this week, I think an institution is probably selling down.
I added this afternoon. Outlook provided in interims said they would 'comfortably' meet full year expectations but the price has now dropped back to 5% below what it was at the time of the update. Staff utilisation was reported as being only 64%, so any increase in business brought about by the withdrawal of government support, shouldn't bring with it too much in the way of additional cost.
FRP is going ex div on 18th @ 1.60, paying div 3 monthly. Yet SP has dropped by 10% on no news in past week. Can only see SP price at a discount, and future re - rating
For a large chunk of this morning I could both buy AND sell FRP for 102p. I don't really understand why. Then, over a very short period of time, £80+k worth of shares went through at 102p. I would suggest that they are either all buys, or all sells. It would be ever so useful to know which...
For the record, I bought 980 shares this morning (for 102p).
Agree - but looks like some someone doesn't take that view as 2* 100k sells this morning.