The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
aviva’s share price now about 54.9 pence higher than it was when our old pal
Porsche1946 last posted in late november (i.e. up c. 14.55% in about six weeks).
his usual mantra has been to say how dreadful all value shares & british shares
are, and to repeatedly advise that peers dump them to buy US growth stocks.
wonder if he will reappear soon to expand on his thesis in light of recent
market moves? (… maybe that’s a bit like saying “candyman” a few times?)
[ * waits expectantly *]
I see that Porsche is back with his inane ramblings, does he just cut & pasta the same drivel every time because he hasn't got anything worthwhile to contribute to this board?
Makes you wonder why he bothers. I suspect he's lost a fair bit here & is a bitter & twisted little individual.
Nice entry point presented again thats to what i think is an overreaction to Omicron. Nil deaths and nil hospitalisations this far.
Good dividend payer and the chance of a good return of excess cash to shareholders.
Ace, The statement by AB did not ignore IFRS figures:
"Group operating profit5,‡ of £1,132m (HY20: £1,225m) and Group IFRS loss for the period of £198m (HY20: profit of £874m) reflecting non-operating items including anticipated loss on disposal of France and investment variances driven by higher interest rates."
It's recognised and therefore factored into the sp that EPS will be lower YE 2021 than YE2020. EPS for YE 2022 was forecast to increase but no doubt the concern over this forecast was what caused the dip last week. If Omicron's impact is less than the gloomy predictions then it's not surprising if the sp recovers.
It's always a guessing game, especially these days.
On the + side, she's been rising since open.
383.30 GBX +12.50 (3.37%)
29 Nov, 13:10
Hello AllAtSea,
Probably not going to change anybody's view on Aviva, as I have said previously it has its fans and detractors. I regret ever getting involved but blame only myself. Basket case is not an expression I have used but I think the situation is a lot less rosy than management would have us believe. The market remains sceptical - as do I.
If you pay credence to "management spin" ok. Insurance company accounts are opaque at the best of times but the reality of the audited IFRS numbers tells me that this business lost money in the six months ended 30 June 2021: Amanda Blanc chooses to ignore that reality and talk only of the unaudited "Alternative Performance Measures" numbers - but she would wouldn't she?
I remember when this came out reading " In light of our confidence in the strength of the business and underlying cash flows, the Board has declared a 5% increase in the interim dividend" - 5%, really? - 5% increase is reality the rest bluff and bluster. The return of capital to shareholders is entirely funded by sale of businesses, none by business profitability.
Just have a look at the rates of interest this company is paying on subordinated debt - even debt denominated in euros. I was shocked at the rates the market demands from what is meant to be a blue-chip member of the FTSE100.
There are those who believe and those who desperately want to believe - the unadulterated numbers make me a non-believer.
AceofClubs
OK Ace, perhaps you would analyse this statement and give us a blow-by-blow account why AV. is the basket case you suggest it might be:
"Amanda Blanc, Group Chief Executive Officer, said:
“We have made good progress on all fronts in the 12 months since we launched our strategy.
We delivered strong cash remittances4,‡ of £1.1 billion in the first half and we are on track to achieve our objective of over £5 billion in cash remittances‡ between 2021 and 2023. In light of our confidence in the strength of the business and underlying cash flows, the Board has declared a 5% increase in the interim dividend to 7.35 pence per share.
The breadth of Aviva, across life insurance and general insurance, is a key strategic advantage and has driven a 17% increase in operating profit4,5,‡ to £725 million. We also delivered some of our best ever sales figures in the first six months. In UK general insurance we delivered our highest sales3 in a decade. In Savings & Retirement, net flows‡ increased by 24% to a record £5.2 billion, and we’ve added 100,000 new workplace customers, reinforcing our number one position.
Alongside delivering growth, we continue to focus on reducing controllable costs4,6,‡ which are down 2%. We are on track to deliver our £300 million savings target in 2022 and are focused on achieving top quartile efficiency in all our businesses.
While we’ve got more to do, our half year results show we have what it takes to drive growth in our businesses. We remain completely focused on transforming performance, capitalising on the breadth of Aviva, making insurance simple and easy for our customers, and creating value for our shareholders.”
Return of capital to shareholders of at least £4bn by HY 2022 with full details with FY results in March 20221
Intended shareholder return of at least £4bn (subject to regulatory and shareholder approvals, remaining completions and market conditions) including up to £750m via share buyback to commence immediately2
Expect additional reduction in debt of c.£1bn and repayment of £0.7bn of internal loan
Combined with £2bn repayment of debt in H1 2021, expected to utilise all of the cash proceeds from divestments of £7.5bn
Divestment programme expected to complete by end of 2021.
Strong growth in cash remittances and operating profit.."
in full here:
https://www.aviva.com/newsroom/news-releases/2021/08/HY2021-results-announcement/
I thank you in anticipation of your very informative reply.
It is indeed a funny old world - Porsche1946 is not at all polite with his language - but on his facts is he wrong?
Anybody buying, at whatever price, is buying into a business that actually lost money in the six months ended 30 June.
Businesses that contributed nearly half the "adjusted" (ahem) earnings per share have now been sold.
I do hope Ms Blanc knows what she is doing - but I fear not.
I still hold on the "bigger fool" theory and the words "Special Dividend" blinding PI's to the much more important bigger picture - but I could be wrong.
AceofClubs
And I can't believe the posting by "Pork" has a recommendation. As Maggie said before she left "it's a funny old World"
1946? And you are not a pensioner??
You should be posting weird, crazy comments under tabloid stories, not here.
Same price as Feb, what a steaming pile of sxxt. No growth and its lost more than half its value in 11 years so good luck chasing dividend ( pensioner stocks ) cxxp like this on the worst index in the world ( brexit/U.K. political basket case/trashed currency ) this doing much worse under Welsh windbag Blanc that the fairly useless Andy Briggs.
378.50 a good start to the day.