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Operating profit was £94Mill last year so probably higher than £100mil this year
https://www.thisismoney.co.uk/money/markets/article-11801777/Abrdn-loss-sees-profits-interactive-Investor-double.html
Llucan I agree with your sentiment.
How did you come to getting 100 mil from ii
"One swallow does not make a summer" but the first quarter results are encouraging.
As the divi is paid next week I think there could be more upside over the next few days. I would be nervous of being short in this share. I would say more upside than downside now.
Key highlights
- AUMA growth of 3% to £507.7bn reflecting stronger markets and positive net flows
- Continued organic growth in interactive investor, with customer numbers up to 414k
- Actions underway to address outflows in Adviser and equities
- Implementation of cost transformation on track
Another quality ftse 350 dividend share😂😂😂. Uk listed shares now known as “ the bug zapper trade “. You dip your toe in and actually buy any of the capital destructive brexit basket case rubbish and your diminishing wealth just gets zapped/vaporised😂😂
Personally I do not think anyone will come forward to buy it in the present climate. Fund managers are really out of favour.
I also do not think the divi will be cut from 14.6p.
£494 billion under management, an 11% share in phoenix giving 60 million a year in divi and 100 million from ii.
The company should be able to generate enough to cover the 14.6p divi.
With a 6 month view and a 14.6p dividend whis seems to be an easy add.
At the current market cap it would be a gift. Even I am running the slide rule over it :)
Is there any chance someone might consider a takeover?
GutterS, it's a easier read , Sp looking better today , but I baled other week for a pittance, 1.368p to 1.4303p , payday still to come in theory should go higher...atb
Just bought in at £1.3689
Flingers crossed
Has anyone worked out what the average price Abdn have paid over the years on their share buyback programme? Truly this is a waste of shareholders’ money….doesn’t the BOD have a responsibility to protect shareholders interests?
A chap called Anthony Miller posted on Linked In: " I invariably describe the company as having lost its vowels in a tragic rebranding accident." Arf!
This turd of a share shocking even by dog index of the world ftse 350 brexit basket case standards. Standard life merging with Aberdeen was a terrible stitch up and shareholders have been well and truly fxcked. They now call buying U.K. shares
“ the bug zapper trade “ 😂😂 terminal like the U.K. in general, buy US.
As I used to say to IFAs and customers, "it is above my pay grade" https://www.bbc.co.uk/news/business-68769562 - or should that have been "t's abv m p grd". When they throw away £50m plus on trying to ramp the SP and however much they spent on this exercise, it makes packing the contact centre off to the wilds of west Edinburgh to save £1m look ridiculous.
This is the 'calibre' of people running this appalling ****show - crying about "corporate bullying" from the media!
They will not admit the abject failure of their puerile rebranding, and this company (and its share price) will do nothing until they face the facts, admit the egg has run down their faces and solidified into a putrid mass and grow up.
https://stocks.apple.com/A9Nb3ZcH8T4a05bRyiBpYuA
Thanks David for the insight, very useful indeed.
Regards Bro-k
I wasn't expecting to get it or even be interviewed. I was just flagging up my presence to see if there was anything over on the Asset Man side - Wealth Man is very dull and badly managed. They probably pay the best around the financial companies in Edinburgh, but I left as they are just badly run and I had taken enough age discrimination already. HR are a bunch of middle-aged white women! My contract was up and I could not rationalise staying on, so I left despite being told I was being made permanent.
But yes, I found myself in some hot water for criticising a number of things, notably diversity and the 'Power of Investment' campaign (no, i don't suppose you remember it). Their first push on diversity was 2015 with a Diversity Summit featuring Eddie Izzard and Bozoma St John (diversity hire booted from Netflix in Feb 22). I was a recent critic of both Britvolt and fixation with the Far east and EM. Turns out I was right - maybe I should have had the job!
So Dave you have revealed why you are negative with an agenda. You didn't make the cut.
They still have quite a liot of resources availaible so I suspect the divi will be maintained for tjhe next few years at a minimum of 14.6p a year.
They paid £1.5 billion for ii this generates about 100 million net profit. They have a £600 million investment in Phoenix.
So they have identifiable investments of £2.1 billion.
ABDN is valued at about £2.5 billion they also have £494 billion of assets under management .
I think it will recover slightly over the next 2 years but I am doudtful it will get to £2.
Interest rates coming down should mean more money into equities.
The part of the business, which is a big part, which is not performing is the fund managment side. Which was why Bird was thinking about selling it.
If they can turn this side around and get a net increase of funds invested all will be fine over 5 years.
If they continue to have a net outflow of funds then a vualtion of £2 billion would be about right! 20% lower than where it is now.
On the positive side the adjusted profit figure just about covers the dividend. So they do seem to be making progress.
One of my bigger mistakes buying this share. I'm in too deep to get out until a strong SP recovery takes place. What do you think could happen over the next 12 months or next 5 years.
Having been a critic of their strategy to go for the Far East and EM, I would say ‘No’ - having been rejected without interview for one of 6 Inv Analyst jobs they had in summer 22 for not having the “right experience”. They were and are very keen to flag up the number of female fund managers they have and reckoned ‘diversity’ was one of their key values - since 2015 - so I would say neither will help them.
There has been a lot of private equity activity in wealth management recently, but who would want the asset management business - could be an issue with flogging off the platform too. So, a t/o is still unlikely, despite Bird’s best efforts to minimise the share price.
Runner2018 - If you place a 1-year chart of the SP performance since 2015 it reads 505p down to 138p counting including div it is slightly less painful from a price of 285 to 138 but are they ever going to harvest any fruits from their role out into China?
And new ISA financial year coming. I added £4K today as well, not at the lows (of course ffs) but 136.98. See what next week brings, US market well up after yesterday drop, even with a strong US jobs reports.
Risky business buying UK equities at mo , but surely these will rise again when dividends are reinvested after 30th Apr, took a few
https://www.standard.co.uk/business/london-stock-exchange-shares-ftse-100-crisis-equities-fund-outflows-b1145526.html