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I'm not a DLG holder, but do check in on this board from time to time.
With regards Ageas coming back - you have to think that posting nearly £200 million 'loss' is pretty dire and as such, why on earth would or should Ageas come back with or raise their offer. If indeed, they do, it will be paltry and as such will undoubtedly be rejected by the BOD yet again - THINK HARD, as if they pull out or offer a paltry one that's rejected again, as some have said, the SP will indeed plummet!! I'm ALL for greed and making money where and how you can, but based on today's results, you have to think that the screen will be red again for many days coming.
Clearly just my thinking
The rns is positioned in a calamity favourable to a further final bid.
250p is the order of the day, and on that basis, shareholders should be glad to wash their hands, but not ecstatic or with glee
Would prefer no bid unless £3 north - would rather take chance witht e company from 150p level growing - however management needs to change. The dividend reset is not great 4p final maybe 8p next year - seems to erode the reason many held this for so long.
Now it truly is a binary outcome. Ageas' hand is much strengthened, as the synergies / cost cutting are better addressed in a larger group and DLG have made it clear they will be reducing staff in any case. The second bid now also makes some sense.....any further sweetening of the deal will look more digestible to shareholders in comparison , and as such I expect we will hear of a slightly better offer being made this coming Saturday. So no bid or final offer, 1.50 or 2.50.
Why so, effectively I have a free shareholding at no risk?
Freed funds available for elsewhere, including readding on a pullback and a simple way of monitoring. Allows to add risk and also instantly react to opportunities.
Can get you head around that? Really. It's what many professional fund managers do. A reporting method for consistency.
Try not to concern yourself too much about it is case it hurts your head.
Mx
I loved that RNS .
As a direct line share holder I loved it .
Because I love Mediocre, lacklustre , shambolic , dismal things.
I really do.
I don't think the results were that bad considering. This should be back in profit when the next set of results come in.
Need to bear in mind that the effect of the premium increases will not really start to arrive until 2024. Interim results will need to be carefully observed and I will wait for them.
150 million charge related to pricing and total write offs, I'd like to see any remaining board members gone, it's seems like they have just sat back and let a good company rot with incompetence leadership.
This is what is the big problem with UK stocks, the payout is high and growth is low.
I have debated this against oilies, banks all that underperform USA big.
This is a good move with a small dividend which will help cut costs and aid growth in business that is still struggling .
Go look at all insurers worldwide it’s 2-4.5% payout not silly 8%.
I’m happy with this payout. It’s better than zero payout
Same here HB,
There is still room for a return of special dividends when the claims or lack of show what their operating costs are. Hence why I posted earlier dividend history from 2012 onwards that showed low interims and finals but 3 years of two specials awards as profits were known. Then a follow on year that gave out one extra special dividend.
As a LT dividends collector I will most certainly not vote to have my capital sold off at its current loss.
I am quite optimistic for the future. New CEO with a history of insurance rather than an accountant. He sees potential and I see no reason with such a strong brand why this company will not thrive again.
That's a completely nonsensical way to calculate an average.
Time will tell - real move masked by rate cuts hope - coming sooner - supposedly. When the tide goes out again is the time to take a view.
I trimmed a further15% as a hedge. My DLG average is now sub £ Zero . Now the add phase.
Think I've got lucky, just dumped the £50K i bought last night for 217 so 700 quid profit in 12 hours, not life changing but I just can't call which way this is going to go.
Or ... the market suspects that a third bid may get over the line?
As expected buoyant markets holding this up for now. Sems 204 test held.
Calm down, calm down! FY23 was always expected to be an annus horribilis. Despite DLG increasing premiums throughout FY23 it was never going to immediately fix the problems created by its underpricing in FY22 and the initial part of FY23; it's called accruals accounting. It means that expenses are recognised as and when they arise whereas income is, more often than not, spread over the term of the policy i.e. there is a lag. There are already indications that the "worm" has turned in the first two months of FY24 and hopefully this trend should now continue without any further material inflation-related cost shocks in motor.
Weather-related claims are, perhaps, slightly elevated and perhaps there is more work to do on home premiums over the next 12 months. In the past, claims might have expected to be materially higher in the first quarter following winter-related weather events but we do now seem to be seeing more regular weather events outside the "normal events window" e.g. summer flooding events to appear to be on the rise (either that or there was chronic under reporting in the past). Whether increased flooding events are entirely related to Climate Change remains to be seen e.g. the increase in flooding events may in part be explained by (unscrupulous) developers having built more new properties in recognised flood zones over the last 20-30 years.
Are back.....or maybe not!
While the Board is confident in the actions taken in Motor, it recognises that the period over which to judge the sustainability of Motor's capital generation has been short and consequently this dividend should not be regarded as a resumption of regular dividends. The Board will update on any changes to its dividend policy, alongside the conditions it has previously set to consider restarting regular dividends, in July to coincide with its planned strategy update.
The D LG board stated the Ageas offer materially undervalued the company but that was BS. If anything the offer was generous based on these results.
Interesting to see what Areas do next, and how DLG major shareholders react.
May think twice about adding unless 160s.
If the US futures hold up the SP at the open it might cap the move.
Guess the 4p won't help. Maybe Mr Market will shoot up the price 🤔 to confound us all.
Not good, will drop
Jam tomorrow has been offered, but only crumbs today are on the table.
I fear the market will not take these poor results well at all!
Underwhelming for sure. Shocked by the op loss. Ageas could well walk away here.
Will buy on weakness though as I like jam.
Have just cancelled my Privilege policy as it was up 80% from last year. No thank you.