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Seems cheap...12% divi
6.8p per share
What dividend this company pays? Thanks in advance Will be in touch with more info soon for people that is relevant
Fairpoint (LON:FRP) Press coverage states that a previous source of concern over group earnings may have gone away. seems the government have shelved a reform around minor motor accident injuries, specifically the operation of whiplash claims. http://www.telegraph.co.uk/business/2016/10/13/delays-to-whiplash-reforms-costing-drivers-3m-a-day-insurers-cla/
Off 65.....well oversold
As usual, recording some buys as sells, including mine at 70.65! Can't understand the drop either.
Can't see why this has dropped so much in one day. Classic herd-following capitulation near the bottom? It's a sound looking company imo and the transition to legal services looks much more sustainable than the debt side. Simpson Millar Solicitors http://www.simpsonmillar.co.uk/ is something like 76% of their overall income - this is a large firm, over 150 years old, with offices across the country (http://www.legalfutures.co.uk/latest-news/fairpoints-transformation-listed-legal-business-continues-apace). Gateley (GTLY) is another legal firm that's recently listed and its share price has been doing well.Both pay decent dividends - the yield here is now very substantial!
got this bottom wrong
added few more .....must be near bottom
Just what i'm thinking too ! Even if the dividend stays the same for 2 years - It's a great yield at this price. It seems to stay under the radar until word about growing profits made from the legal businesses filters through & if you're not invested you miss the first big leaps of the S.P. I've added today :) Good luck to all invested.
Any one know if Miton group still holding big? One of Gervais Williams top tips for 2016-not done well SO far
I guess drop reflects uncertainty over stated intention to transition fully from debt market to legal services. But latter looks promising - and holding the (very decent) dividend shows confidence of this (which is a link they actually make in the RNS). I will continue to hold while income keeps coming.
Must say - I'm surprised that Fairpoint has dropped to the £1 level. Unless something drastic has happened behind the scenes - It offers a cracking dividend & growth potential too !!! Strange :/
Research analysts at Panmure Gordon started coverage on shares of Fairpoint Group Plc (LON:FRP) in a note issued to investors on Wednesday, AnalystRatingsNetwork.com reports. The brokerage set a “buy” rating and a GBX 200 ($2.85) price target on the stock. Panmure Gordon’s price objective points to a potential upside of 37.93% from the stock’s previous close. Shares of Fairpoint Group Plc (LON:FRP) opened at 140.8401 on Wednesday. Fairpoint Group Plc has a 1-year low of GBX 105.66 and a 1-year high of GBX 195.00. The company’s market capitalization is GBX 61.73 million. The company has a 50-day moving average price of GBX 145.14 and a 200 day moving average price of GBX 161.84. Separately, Shore Capital reiterated a “house stock” rating on shares of Fairpoint Group Plc in a report on Tuesday.
Double digit growth and nice 5% dividend as well Instis on board and may well add. Very quiet bb though although plenty buying. GL
Heading back to 1.80 plus and doing well on a bad day for the markets.
LEEDS-BASED law firm Simpson Millar expects to continue to grow quickly after delivering a big increase in revenues in 2015. The consumer law firm, which is part of the stock market-listed Fairpoint Group, said it had achieved "significant double digit increases in segmental revenues and profits" while also improving its margins. The firm became part of Fairpoint in June 2014, in a deal worth an initial £9m , with a further £3m earned after a strong first year post-acquisition. There is a further £3m earn-out available based on its performance in the second year. In August Colemans-CTTS became part of the £40m legal services division, which now provides about two-thirds of Fairpoint's revenues. The deal included Coleman's legal processing centre which will help the group to deliver volume personal injury, conveyancing and travel law. Fairpoint's chief executive Chris Moat said: "Fairpoint has delivered double digit growth, driven by the strong progress in growing its legal services business. "Having established our legal services platform, the group is well placed to take advantage of the considerable opportunities within this market, both organically and by acquisition. We believe our platform provides us with a structural competitive advantage which suits forthcoming market changes. "Overall, we are confident of our positioning and our growth prospects." The AIM-listed professional services group says it sees further growth in the legal services market, despite the government's crackdown on whiplash claims, as announced unexpectedly in the Autumn Statement. Responding specifically to the proposed changes relating to small claims limits and whiplash claims and subsequent clarification in the Government's position, Fairpoint said this area of work accounted for around 8% of 2015 revenues. It added: "As noted previously, the group believes that its recently acquired legal processing centre positions the Group advantageously to manage such legal work at low cost."
(can't do link doh!) Miton Group Fund Manager Gervais Williams Stock picks for 2016 One of his two is Fairpoint. Undervalued with a p/e 7.1 and dividend 4.7% Sees organic growth with debt well managed and offset by cash holding.
Is now reaping the rewards of its strong acquisition activity with double digit growth despite acquisition costs.
towards developing the significant opportunities within the Legal Services business, whilst maintaining focus on cost control in DMP. - Claims: As expected, revenues in claims management have declined significantly compared to the prior year as the business transitions from maturing IVA PPI claims to newer lines of activity. Margins have also reduced to reflect this mix change. Group net debt as at 31 December 2015 was £13.6m (31 December 2014: £7.6m). This largely reflects the acquisition activity undertaken by the Group within its Legal Services business during the year and is comfortably within the Group's committed bank facilities of £25m. During the year the Group incurred exceptional acquisition transaction and restructuring costs, as well as additional professional services costs, totalling £1.4m. The former, as previously reported, were associated with the acquisition and integration of Colemans and the latter with the application for full regulatory permission with the new regulator of DMP activities in the UK, the FCA. Chris Moat, Chief Executive Officer, commented: 'Fairpoint has delivered double digit growth, driven by the strong progress in growing its legal services business, which now represents approximately two thirds of Group revenues. 'Having established our legal services platform, the Group is well placed to take advantage of the considerable opportunities within this market, both organically and by acquisition. We believe our platform provides us with a structural competitive advantage which suits forthcoming market changes. Overall, we are confident of our positioning and our growth prospects.'
Fairpoint Group plc Trading Update Notice of Final Results Fairpoint Group plc ('Fairpoint' or 'the Group'), one of the UK's leading providers of consumer professional services, today issues a trading update on the Group's performance for its financial year ended 31 December 2015, ahead of announcing its final results on Wednesday, 16 March 2016. Overall, the Group's adjusted* results are expected to show double digit growth against the previous year and are in line with market expectations. This is principally as a result of the continued development of the Group's consumer legal services business, with the second significant acquisition in this area completed during H2 2015. Segmental updates are as follows: - Legal Services: Simpson Millar LLP, the Group's consumer legal services business, has delivered significant double digit increases in segmental revenues and profits, whilst making good progress on margin improvement. Legal Services, which now represents approximately two thirds of Group revenues on a pro forma basis, has benefitted from the acquisition in August 2015 of the trade and assets of Colemans-CTTS LLP ('Colemans'), which brings a Legal Processing Centre to the Group for the delivery of volume personal injury, conveyancing and travel law. Following proposed changes announced by the Chancellor in his Autumn Statement, relating to small claims limits and whiplash claims and subsequent clarification in the Government response to an online petition**, the Group believes that the proposed changes: - are intended to be focused on whiplash claims relating to road traffic accidents; - are subject to consultation, with anticipated implementation from April 2017; and - are expected to follow previous precedent and apply to cases introduced post implementation and not retrospectively. This category of business, on a pro-forma basis, represented approximately 8% of the Group's revenues in 2015. As noted previously, the Group believes that its recently acquired Legal Processing Centre positions the Group advantageously to manage such legal work at low cost. - IVA: As expected, conditions in the Group's debt solutions market remain challenging, with the volume of new IVA solutions in England and Wales falling by 25.7% in the first three quarters of 2015, compared to the same period last year (source: The Insolvency Service). IVA revenues for 2015 have as a consequence reduced by approximately 15% compared to the previous year and the Group has continued to focus on delivering good margins, strong cash generation and avoiding uneconomic new business. - DMP: Revenues have declined by approximately 15% when compared to last year. This reflects the absence of acquisition activity in 2015 as per our previously outlined plans. Following recent clarification from the Financial Conduct Authority ('FCA') regarding debt management back book acquisitions, we do not intend to resume activity in this field, preferring to deploy capital towards
Bought these at 129p & enjoying good Dividends. Decided to top up at 150p. These look a decent dividend share with growth potential. Good luck to all invested :)
By JONATHAN JONES, PROACTIVE INVESTORS, FOR THISISMONEY.CO.UK PUBLISHED: 13:45, 27 November 2015 No-win no-fee law firms were big losers in the Chancellor’s Autumn Statement this week. George Osborne said the government will restrict the ability for sufferers of minor whiplash injuries to claim compensation with an increase in the small claims limit from £1,000 to £5,000. Also lower was rival Fairpoint, though shares started to bounce back on Friday after the company shrugged off the implications. The firm said any restrictions for whiplash sufferers to claim compensation would require consultation and would not likely come into effect until 2017. Shares were 8 per cent down at 173p despite the rally on Friday.
Any idea why nice rise today?
Hi, If you want to listen to Chris Moat, CEO, and John Gittins, Finance Director discuss Fairpoint’s half year results and ask them questions please register for the Webinar which is being held on Friday 4th September at 10.15. The presentation will last approximately 20 mins and there will be an opportunity for Q&A at the end. To register please go to: https://attendee.gotowebinar.com/register/8121261532339634946 Thanks, The Equity Development Team