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Anon3. Yep you're probably right. IInsolvency just sounds so negative. The website home page states.... "No 1 for Business Recovery" but RT article was themed on letting the weak fail. Totally at odds with the recovery message. Thats' one of the reasons I felt it was a dreadful article. People don't want to know half a million businesses are in distress especially if you are one of them. It's far better to focus on the recoveries they have done rather than doom and gloom. That's why I feel the website is pretty poor. The negative message far outweighs the positive position wise on the website .That's my personal view.
I presume like everyone here I'm here to make money on SP and Divi. The SP has been on a downward trend since the beginning of May, But it was well known the figures would be good for last year and yet the trend continues. I worry that there is minimal institution interest in a profitable dividend paying company. II investors account for about 20% of the company, similar to RT. The business model of acquisition and more of the same doesn't excite me.It's as you were, steady as you go. It's OK for RT and the institutions if you have a healthy holding but I can't see anything in the future ( or in the time I am prepared to wait) that will generate more demand for shares.
Sorry Folks Rant over. I'll try to stop moaning like this.
The difference is staff and partners and one assumes they have 335ish partners.
But yes, point taken, they're not in the same league as the real big boys, so they're always going to be under the radar.
As for their branding, this is from their website;
"Begbies Traynor is a leading independent business recovery specialist, advising major banks, accountancy practices, law firms, and directors & stakeholders."
And Wiki describes them as;
"Begbies Traynor is a firm specialising in corporate restructuring."
So the branding's not the issue.
I know you got annoyed about Ric's comments, but I think he was just speaking the truth.
He also said that he thinks it's all going to hit the fan in the autumn, so September is not going to be long enough to wait.
I agree about your timeframe comment and it's just the nature of the beast that it's going to take a long while before we see really positive results. Maybe even years, which definitely makes this a very slow burner.
And unfortunately, in my case, I don't think I'm going to be able to wait that long, which means I will probably be working to a similar timeline as yourself.
Let's hope things move quicker.
Yep. Well the figures are confusing for staff. Either Begbies are incorrect at around 400 or AJ at 700+.Who knows, but someone has it wrong. Let's hope it's AJ because if Begbies don't know how many staff they have we are in trouble.
It doesn't really matter though. Insolvencies were down in April but lets see when they latest insolvency figures are out for May and June. If there is a tidal wave they'll all come at a similar time and knowing the timeframe these things take from what I know Begbies may not have the resources to cope because I can't see anything going on to put things in place.
I can't see the dreaded rise if we sell. There is nothing driving the SP. Volume is low and it's just the MM's fiddling around making their money. As I have said many times there is simply negligible demand for their shares. General Sentiment is low. Insolvency simply isn't sexy, perhaps they should rebrand as business restructuring experts or something. Expecting RNS in the future with more small acquisitions to keep us interested. I think I'll wait to Sept update and the divi and then if nothing changes I'll be off. I think they'll be better opportunities, more excitement.... Boy.... do I need that.!!
And as sentiment is weakening on the market generally, this SP has fallen too.
Hardly seems anti-cyclical to me.
According to AJBell's website;
"The group has 735 staff and partners and the professional staff include licensed insolvency practitioners, accountants, chartered surveyors and lawyers."
Just saying :-)
I know what you mean Portswigger. I'm a bit fed up with my holdings too.
It doesn't help when you look at the SP for Beg on here and it's regularly moving by 5%, yet in reality, it's hardly moving at all.
I'm considering selling myself, but have to bear in mind that I've recently sold MRO, KNOS, KETL and LUCE only for them to rocket within a couple of days. I'm either a totally useless or incredibly unlucky investor, so don't copy me!
If I do decide to sell, I'll post it on here, where I'm sure all holders can then look forward to a rapid 10% rise lol.
Seriously though, I don't know what to think here.
I really thought with all the bad news coming through that this would have done way better than it has. I've held this since Xmas and it's a mere 6.5% up. That's pathetic.
I don't think a P/E of 130+ helps much either.
Well, I m on a real downer with Begbies.....Someone snap me out of it or should I sell up on assumption there is a buyer.?
Begbies have 77 offices and about 400 staff and at first glance I can find 5 vacancies. Let's work on 425. That averages 5.15 staff per office. Let's say the bigger office have 6 to 10 that leaves some offices with two maybe three staff. I'm not expert in Insolvency workload but I'm pretty sure you can't take on much work with only a few people. The potential work coming in if the economy heads into crash and burn is huge which is probably why Ric suggests we let the weak fail rather than trying to save and restructure or sell because quite simply it's to much work for a small office and the money takes an age to come through. It seems Beg are quite happy to tootle along with small companies and individual insolvencies with increased revenue streams coming from other aspects of the business.
Someone save me from my despair and give me some confidence moving forward.
Begbies miss out on DW administration which goes to BDO. Going well in Wigan then !
High Profile cases like these would help but that isn't where the focus is, as these go to PWC, BDO etc. I guess this is why they are broadening their revenue streams through small accquisitions etc
Where the drivers for the share price increase ?....... Answers on a postcard.
Agreed. But you simply don't say it like that. It's a very badly written article and I'm suprised Ric T approved it.
People work hard to build a business and it's devasting to lose it but you simply don't spout your mouth off saying it's better to fail. People don't want to hear it. It's far better to say we will bo everything to save your company. It's just dreadful PR
Have gone into administration today. Wonder who the administrators will be?.
Portswgger - Begbies are speaking the truth and it's been known for a long time, many years. Many Companies have been on life support and are zombie companies, the living dead.
Companies look to the likes of Begbies to try and find the best way out of their dilemma, not to be "put down".
CM