Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone 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.
Started: Krustysmegma, 6 Mar 2024 09:45
Last post: Krustysmegma, 6 Mar 2024 09:45
I guess this page will have disappeared (like the company) by next week, so farewell fellow "Beevers", enjoyed the ride whilst it lasted. Good luck with your future investments, whether they include TPFG or not. K
Started: Krustysmegma, 10 Jan 2024 09:09
Last post: lemonade311, 23 Feb 2024 21:33
Mergers usually destroy shareholder value, it's well documented. Easy sell.
The market is starting to appreciate the value of the deal now, both BLV and TPFG sp's have recovered strongly after initial dips. I know very little about TPFG but I know they're getting an excellent business in BLV. Still haven't decided whether to hold my new TPFG shares or sell once the "merger" has completed though.
Chance for investors to hear directly from Gareth Samples and Dorian Gonsalves, respective CEOs of TPFG and Belvoir.
On 18 January 2024 at 4.30 p.m. (GMT), Gareth Samples (CEO of TPFG) and Dorian Gonsalves (CEO of Belvoir) will provide a presentation (the "Presentation") relating to proposed recommended all-share merger of TPFG and Belvoir (the "Merger") via Investor Meet Company.
Defined terms used in this announcement have the meanings given to them in the announcement of the Merger, by TPFG and Belvoir on 10 January 2024 (the "Merger Announcement").
At this Presentation the benefits of the Merger envisaged by both CEOs will be summarised, including the reasons why the Merger should be attractive to TPFG and Belvoir Shareholders alike.
The Presentation will be open to, amongst others, all shareholders of TPFG and/or Belvoir. To access the Presentation, investors can sign up to Investor Meet Company for free using the following link:
https://www.investormeetcompany.com/belvoir-group-plc/register
Those who already follow TPFG or Belvoir on the Investor Meet Company platform will automatically be notified and invited.
If TPFG and Belvoir Shareholders wish to raise questions in advance of the Presentation, they can do so via their Investor Meet Company "dashboard" accessible through the links above. All questions must be submitted prior to the Presentation and must be received by no later than 9.00 a.m. (GMT) on 17 January 2024. To the extent that the TPFG and Belvoir CEOs are able, and in line with restrictions and obligations applying under the Takeover Code and under applicable law, they will endeavour to answers as many of those questions as possible, during the Presentation or after it. A recorded version of the Presentation and associated materials, will also subsequently be available (subject to certain restrictions relating to persons in Restricted Jurisdictions) via the respective websites of TPFG and Belvoir, until the end of the Offer Period, at www.propertyfranchise.co.uk and www.belvoirgroup.com/offer-for-Belvoir/.
BLV - a great company managed by great leaders. They were on my radar from 2021 but as is always the case I never built up a big enough position, with my first shares only being purchased last July below £2. Like everyone else I am sad to see this merger likely to go through, in particular not seeing mention of Dorian & Louise as being part of TPFG longer term.
For that reason above I sold out this morning with a 30% gain. Will it be a mistake? Time will tell, however I do not know anything about TPFG and I don't want the price fluctuations of them to impact BLV. I'll let things settle down, do my research and see if it will be worth re-entering.
Good luck all.
Perhaps there is more behind the scenes about who does and does not want this merger to happen.
Yes, good advice EnglishPatient. I'll be doing a deeper dive into TPFG myself before making any decision once the merger has completed.
Started: JeeGee, 10 Nov 2023 16:44
Last post: JeeGee, 10 Nov 2023 16:44
Very informed piece on Belvoir in Investors Chronicle today https://www.investorschronicle.co.uk/ideas/2023/11/09/this-franchise-business-is-defying-the-property-gloom/
Started: Groucho., 6 Nov 2023 21:10
Last post: Groucho., 6 Nov 2023 21:10
Midas verdict: Midas recommended Belvoir in 2016 when the stock was £1.21. Today, the shares are £2.40. The increase is notable compared with peers, but the price has still come down from highs two years ago. That should change, with brokers targeting £3.75 within 12 months. Demand for rental properties is at a record high, while sales are holding up better than many expected. Gonsalves is a steady hand on the tiller too, having spent his entire career in the market, including a five-year stint as a director of the Property Ombudsman. Hold on to these shares.
Started: Troajan, 4 Sep 2023 15:15
Last post: Troajan, 4 Sep 2023 15:15
Started: JeeGee, 29 Aug 2023 10:40
Last post: JeeGee, 29 Aug 2023 10:40
New interview with CEO Dorian Gonsalves about recent Financial Services acquisitions https://www.youtube.com/watch?v=TMWsxOQZB5A&t=15s.
Interim results out next Monday. IMC presentation scheduled for 4.30pm. Register via: https://www.investormeetcompany.com/belvoir-group-plc/register-investor
Started: Krustysmegma, 3 Aug 2023 10:13
Last post: Krustysmegma, 3 Aug 2023 10:13
Trading ahead of expectations in the first half and confident of meeting full-year guidance. This company continues to perform well in what are extremely challenging circumstances. Bodes well for the dividend.
Started: JeeGee, 13 Apr 2023 18:27
Last post: Yellowstone, 5 May 2023 15:35
If you missed the Belvoir Group investor webinar this week you can catch up here. It was a tough year in the property market in 2022 but Belvoir navigated the difficult conditions well and management are confident about the opportunities ahead. Watch a recording of the webinar here.
https://youtu.be/pnByzHTih08
Belvoir will be attending the MelloMonday on 17 April 2023 at 5.30pm, taking place via Zoom Webinar. Dorian Gonsalves, CEO, will be presenting to participants and taking questions during the event. If you would like to attend, you can register here https://melloevents.com/mm170403/ for a free ticket for the event using code SHR100.
Started: Krustysmegma, 21 Mar 2023 16:48
Last post: Yellowstone, 6 Apr 2023 12:05
Investor webinar 4/5 at 12.30pm. Meet CEO Dorian Gonsalves and CFO Louise George as they present the Belvoir Group PLC and the exciting opportunities that lay ahead.
Register: https://us02web.zoom.us/webinar/register/1016806855362/WN_CN56_-i5RZSXsEC9dyHiXg
Looks that way atrm2 but I should warn you, I haven't been the best stock-picker! Things are looking up here though, pushing 220 this morning.
Seem hold some of the same shares Krustymega. Moving up nicely today, finger on buy button this morning to add a bit more for long term but dithered, see if retraces. With track record valuation looks low, growth able to be funded from cash generation, decent dividends as well.
Up again today, in sight of £2.00 now. Could be a full re-rate in progress here after positive full-year results and a return to near-normal trading.
Good market response to the FY results, another big year coming up for BLV
Started: Troajan, 27 Mar 2023 17:24
Last post: Troajan, 27 Mar 2023 17:24
Started: Groucho., 27 Mar 2023 11:20
Last post: Troajan, 27 Mar 2023 11:53
blv ceo.....on sky news atm
Target price 375 (126% upside). We value the shares on a FY 2023E free cash flow yield of 5.0% (small/mid cap 4.7%). Based on trough earnings in 2023E, we highlight the reasonable 9.0x P/E (small/mid cap 15.3x), 5.7% dividend yield (small/mid cap 2.1%) and, most importantly, 11.8% free cash flow yield. None of these metrics reflect the benefits of the franchise model, track record and long-term potential
2022 followed on from the strongest year for property in recent history, but Belvoir has, nevertheless, reported a robust set of full-year results further evidencing the power of its franchised model and strategy. FY 2022 revenue was up +14% (+2% like-for-like), gross profit up +6% and adj. PBT down -1% as the resilient Lettings income and expanding Financial Services business continued to grow (both +4% LFL), while housing Sales fell (-15% LFL) as market conditions weakened and administrative costs remained appropriate for long-term growth. Net cash was £1.2m at December 2022, supporting a +6% increase in the full-year dividend to 9.Op and the prospect of acquisitions either directly or by assisting franchisees to expand. We have made no major changes to our forecasts or target price and highlight the P/E of only 9.0x in 2023E (when we expect the interest rate cycle to turn), FCF yield of 11.8% and dividend yield of 5.7%. The current share price ascribes little value to the medium to long-term growth potential from a business that has proven adept at maximising market opportunities both organically and by acquisition.
Started: Troajan, 3 Feb 2023 09:29
Last post: Troajan, 3 Feb 2023 09:29
Started: 1ups1de, 31 Jan 2023 09:15
Last post: 1ups1de, 31 Jan 2023 09:15
Given macro headwinds no surprise to see the profit warning today. No quantum given. However with further interest rate rises on the horizon, housing mkt in the doldrums how can management be confident that profit growth will return in 2024 as stated?
Started: 1ups1de, 6 Dec 2022 13:51
Last post: Billyboy2fromiii, 6 Dec 2022 16:33
I am watching this with interest. I believe 50% revenue is Financial Services and 50% Property (of this 50% Property, 80% is Lettings and 20% Est Agents). I believe 60% gross profit is from Lettings. Happy to be corrected should others have input. The Lettings profit should be resilient….
However, I believe there is £8.2m loan to be repaid, £445k in Dec22 and £7.8m in March 23. Cash at 30th June of £5.7m stating to be repaid from cash but may possibly need to refinance?
Any input from others?
BB2
Did Blv set off on a mortgage buyer spree at the wrong time. Near guaranteed that BOE will have to again raise interest rates & further choke off mortgage approvals/affordability. BLV CE does a great job communicating at potential shareholder events. But this is a major headwind for the 22% of the business that was largely incremental .Letting as others say should be more resilient but even here with diminishing stock more folks will stay put & so less churn than BLV would like. It will need to go below £1.50 to tempt.
Started: Scoobydoo321, 1 Dec 2022 10:28
Last post: Scoobydoo321, 1 Dec 2022 10:28
Expecting a positive TU very soon.
Spate of house news hits the TV today - hence the mini sell-off.
However, BLV
- c78:22 split between lettings : house sales. Thus, much more resilient than typical estate agents.
- SP already at a 18 month low.
- WINK recently announced an "exceed expectations" TU
- FOXT showed strong performance
- Finncap expect them to continue achieving their targets - https://www.proactiveinvestors.co.uk/companies/news/991773/analysts-at-finncap-note-that-belvoir-s-interims-show-continued-benefits-from-its-direct-and-indirect-investments-991773.html
Started: JeeGee, 7 Nov 2022 16:58
Last post: JeeGee, 7 Nov 2022 16:58
Just to let shareholders and prospective investors know that Belvoir will be exhibiting and presenting at the MelloLondon investor conference on Wednesday 16th November 2022. The event will also feature top quality keynote speakers such as Lord Lee, Katie Potts, Andy Brough, Gervais Williams and many more. You can also expect educational workshops and panel sessions; 50 exhibiting companies; and over 100 company presentations.
For more information, click here: Https://melloevents.com/mello-london-tickets/
Tickets for 1 day are £99 and tickets for 2 days are £159. To get 50% off, use code MMTADVFN50. Https://www.tickettailor.com/events/melloeventslimited/749087
Started: lemonade311, 9 Oct 2022 11:40
Last post: turnkey17, 19 Oct 2022 18:58
this mainly does lettings, go short a hosuebuilder instead
https://www.theguardian.com/business/2022/oct/07/fear-panic-housing-market-bishops-stortford-mini-budget-mortgages
> The phone has all but stopped ringing at Mullucks estate agent in Bishop’s Stortford – except for calls from buyers with bad news about collapsing chains.
Belvoir hasn't dropped nearly enough for the coming collapse in demand for housing that is around the corner imo. All of the housing stocks have collapsed due to this.
Housing market is way overvalued in all developed countries and the rate increase is the catalyst.
I was long at £1.2 a share and will buy again once they collapse to this share price again.
Started: FONDA, 5 Oct 2022 12:53
Last post: FONDA, 5 Oct 2022 12:53
I am keen to know after recent financial turmoil in the markets what it means to Belvoir and government announcements on housing so should be interesting.
https://www.sharesmagazine.co.uk/events/event/shares-investor-webinar-12102022
Started: Krustysmegma, 5 Sep 2022 08:59
Last post: Krustysmegma, 5 Sep 2022 08:59
Ouch, spoke too soon. Revenues up slightly but costs up 29% & profit down 16%. This won't go down well in the current climate I'm afraid. Need to focus on managing the new business before looking at further acquisitions now IMV.
Started: Krustysmegma, 29 Jul 2022 16:41
Last post: Krustysmegma, 1 Aug 2022 12:29
Another strong performance here in the first half, revenues up 11% on an exceptional 2021 and trading in line for the full year. Decent yield for a growth company at these levels too. Sooner or later this will re-rate to reflect the excellent progress being made by management. Look forward to seeing half-year results on 5th September.
Half-year trading update due here, possibly as soon as next week. Could this price move be in anticipation of more good news from BLV? They rarely disappoint...
Started: JeeGee, 24 May 2022 16:01
Last post: JeeGee, 24 May 2022 16:01
Belvoir is exhibiting and presenting at Mello2022 Investor event on Wednesday 25th May at the Clayton Hotel & Conference Centre, Chiswick, W4.
The three-day event breaks down as follows:
Tuesday 24th May, 9am - 6pm - Mello Investment Trusts and Funds (MELLO IS GIVING AWAY 20 FREE TICKETS TO THE TRUST AND FUNDS EVENT - THE FREE CODE IS FIRST20TF)
Wednesday 25th & Thursday 26th May, 9am - 6pm - Smaller Growth and Mid-Cap Companies (Tickets for 1 day are £115 and tickets for 2 days are £189. To get 50% off, use code MMTADVFN50).
Just to let shareholders and prospective investors know that BELVOIR will be among the companies discussed on the BASH (Buy, Avoid, Sell, Hold) panel on Thursday. To get a £40 ticket to Thursday's event, use the code M2240. There will also be keynote speakers such as Lord John Lee, Leon Boros, Andy Brough, Rosemary Banyard, Clarke Carlisle and Gervais Williams.
For more information, please visit the event webpage: Https://melloevents.com/mello2022/
- Mello Investment Trusts and Funds (WE ARE GIVING AWAY 20 FREE TICKETS TO THE TRUST AND FUNDS EVENT - THE FREE CODE IS FIRST20TF)he event webpage: Https://melloevents.com/mello2022/
Started: Krustysmegma, 24 May 2022 10:31
Last post: Krustysmegma, 24 May 2022 10:31
Another exciting-looking deal engineered by Belvoir, adding more mortgage advisers and a profitable business. They'll have to go some to maintain their record of increasing profits year-on-year after last year's impressive performance but this looks to be just the right type of acquisition to give them a chance. No raise needed either which is always a bonus for holders.
Started: FONDA, 25 Apr 2022 11:02
Last post: FONDA, 25 Apr 2022 11:02
It looks a good time for Dorian to present as I have been a keen watcher of Belvoir .Will be keen to hear an upbeat presentation and what next ?
https://www.sharesmagazine.co.uk/events/event/shares-investor-webinar-280422
Started: Krustysmegma, 7 Apr 2022 11:40
Last post: Krustysmegma, 7 Apr 2022 11:40
Following it's original "Buy" recommendation on 10th June 2021 at 235p, Shares Magazine today suggests that readers "Keep buying." "The tightness of the rental market and the continued strong demand for new housing and finance mean the group is perfectly placed to cover each aspect of the property market both directly and via franchisees." K.