Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Cash from the buy-out arrived safely in my ISA this morning, and stuck half into AAL, which I think has a bargain on its hands in the form of SXX, and which pays a well-covered divi and has slashed its borrowing this year, while enhancing eps with the share buy-back. Not sure what to do with the other half of the dosh.
The takeover has been approved and we should get the cash on or soon after Feb 4. Thinking of splitting the proceeds between AAL (looks likely to pick up poor SXX on the very cheap, pays a decent divi and has very low debt) and a punt on Accesso Technologies (just dipped my toe in for a few at £4.80 (looks oversold to me - Peel Hunt has a £13 target).
May be behind today's sp increase.
Jumped in.
So a pretty lack lustre report with organic and bolt on profits, cash hard to pull apart. I can only assume the board is concerned at the results so far, still the Sp only fell 2%, or rather the spread opened up to 6%. Anyway, on the for ride as of a few days back, given the debt is now up and the pension liabilities are up and the divi is up and they have a stated strategy to buy more end of life insurance chunks it will be just a matter of time before they do another rights issue.
I see the price has dropped so much that a share holder has added roughly 1% Does this mean it has bottomed?
http://tinyurl.com/hswc299 David Marock, chief executive of Charles Taylor PLC (LON:CTR), tells Proactive he is “absolutely delighted” with the firm’s 2015 results, which were reported this morning. Revenues rose around 17% in the year to December to £143mln, while adjusted pre-tax profit climbed almost a quarter to £14.2mln. Looking ahead, Marock says the company has started 2016 “very solidly,” noting that the firm is “building on what has been an absolutely fantastic 2015”.
http://tinyurl.com/q55tnnq David Marock, chief executive of insurance service specialist Charles Taylor (LON:CTR) comments on the state of the insurance industry and the firm’s plans to extend its service offering. The London-listed firm claims to makes the business of insurance “work efficiently”. It does this by managing complex insurance claims for brokers, clients and the insurers themselves. Speaking to Proactive, Marock comments on Charles Taylor’s recent progress, including the acquisition of an international life insurer, acquiring a stake in an insurance software specialist and expanding its office network.
big trade....
Professional services provider Charles Taylor has appointed Tito Soso as its new Group Chief Financial Officer and Executive Director with immediate effect. David Marock, Group Chief Executive of Charles Taylor, said: "We are very pleased to have Tito on board. His breadth of knowledge across different industry sectors and strategic insight will be of immense value as we implement our strategic plan for growth." Soso, who is aged 46, was most recently a Managing Director at Investcorp, which provides and manages alternative investment products. He also held a senior role in corporate finance in the UK and Eastern Europe for a global industrial business.
Charles Taylor, which provides professional services to clients in the global insurance market, has appointed Tito Soso as Interim Group Chief Financial Officer to replace George Fitzsimons, who as previously announced will be stepping down as an Executive Director and as Group Finance Director at the end of October. Soso joined the firm on Monday to ensure a smooth transition. The company is continuing to search for a permanent replacement. Soso, aged 45, was most recently a Managing Director in Investcorp's European Investment team where he was responsible for leading private equity transactions across Europe. In this role he held non-executive director and acting Chief Financial Officer positions in a variety of portfolio companies. David Marock, Group Chief Executive said: "Tito has extensive experience in both permanent and interim senior financial officer roles and we are very pleased to welcome him to the group. "His breadth of knowledge across different industry sectors and strategic insight will be of immense value as we implement our strategic plan for growth. We remain committed to finding a permanent Group Chief Financial Officer to help drive the business forward and will update the market in due course
me too,thankyoo..(rec p.),,,
Charles Taylor is a complex business and management is only starting to realise the benefits of more cross selling and marketing initiatives, so there should be more to come. Likewise the share price - supported by a nice dividend yield - is starting to make progress, but should continue to rise as the recovery story gains credibility.......as always dyor gl all.......
The management services division typically runs insurance services for interest groups that club together. For example, its largest client is The Standard Club, owned by shipowners and formed to insure shipowners, operators and charterers for their liabilities to third parties arising from their operations. So Charles Taylor does the marketing, manages the underwriting and claims and provides regulatory, accounting and administration services. Several new members have been signed up this year, which helped to boost management services operating profits by 44 per cent to £2.6m in the first half. Insurance support services allows clients to select a specific service that they require, be it financial reporting, investment management or alternative risk services. This made a small loss last year, but broke even in the first half thanks to higher demand for outsourced back office insurance services from Lloyd's of London. Net debt rose slightly at the half year-end compared with the end of last year, but was down from a year ago by £4.4m at £34.2m. And last year's first-half net cash outflow of £500,000 has been turned into a £3.6m net inflow.
As Charles Taylor Consulting, the insurance services group had an image problem. So one of the first steps that new chief executive David Marock took was to drop the word 'Consulting' from the title. It may not seem much, but it makes a difference. As Mr Marock said soon after his appointment: "It's all about client relationships." The task remains for Charles Taylor to make its customers aware of the wide range of services on offer, and, after several years of decline, the signs are encouraging. Steps have also been taken to tidy up the group's products into more easily recognisable units, which now comprise management services, loss adjusting and insurance support. Management has also sown the seeds for future growth by introducing a range of new products and services plus extra financial discipline. On the adjusting side, for instance, the focus has been to drive down working capital requirements by improving the speed of invoicing work and collecting cash - cash collections in the first half were up 11 per cent at £30m. On adjusting, where the company works to reduce the size of insurance claims and earns a fee for its time, business has been tough mainly because there were fewer large and complex insurance claims to dispute in the London insurance market in the first half of 2012, especially in the energy sector. As a result, profits slipped from £3.8m to £2.7m. Taylor's run-off business, which manages insurance operations that no longer take new business, now comprises just a small part of the group and is barely profitable. That said, some cash was released from the integration of a closed life insurer, Alico, acquired last year and management hope to add more life operations, but will wind down the non-life side.
thank you
Charles Taylor is a complex business and management is only starting to realise the benefits of more cross selling and marketing initiatives, so there should be more to come. Likewise the share price - supported by a nice dividend yield - is starting to make progress, but should continue to rise as the recovery story gains credibility. ..........but as always dyor...........
The management services division typically runs insurance services for interest groups that club together. For example, its largest client is The Standard Club, owned by shipowners and formed to insure shipowners, operators and charterers for their liabilities to third parties arising from their operations. So Charles Taylor does the marketing, manages the underwriting and claims and provides regulatory, accounting and administration services. Several new members have been signed up this year, which helped to boost management services operating profits by 44 per cent to £2.6m in the first half. Insurance support services allows clients to select a specific service that they require, be it financial reporting, investment management or alternative risk services. This made a small loss last year, but broke even in the first half thanks to higher demand for outsourced back office insurance services from Lloyd's of London. Net debt rose slightly at the half year-end compared with the end of last year, but was down from a year ago by £4.4m at £34.2m. And last year's first-half net cash outflow of £500,000 has been turned into a £3.6m net inflow.
As Charles Taylor Consulting, the insurance services group had an image problem. So one of the first steps that new chief executive David Marock took was to drop the word 'Consulting' from the title. It may not seem much, but it makes a difference. As Mr Marock said soon after his appointment: "It's all about client relationships." The task remains for Charles Taylor to make its customers aware of the wide range of services on offer, and, after several years of decline, the signs are encouraging. Steps have also been taken to tidy up the group's products into more easily recognisable units, which now comprise management services, loss adjusting and insurance support. Management has also sown the seeds for future growth by introducing a range of new products and services plus extra financial discipline. On the adjusting side, for instance, the focus has been to drive down working capital requirements by improving the speed of invoicing work and collecting cash - cash collections in the first half were up 11 per cent at £30m. On adjusting, where the company works to reduce the size of insurance claims and earns a fee for its time, business has been tough mainly because there were fewer large and complex insurance claims to dispute in the London insurance market in the first half of 2012, especially in the energy sector. As a result, profits slipped from £3.8m to £2.7m. Taylor's run-off business, which manages insurance operations that no longer take new business, now comprises just a small part of the group and is barely profitable. That said, some cash was released from the integration of a closed life insurer, Alico, acquired last year and management hope to add more life operations, but will wind down the non-life side.
Commenting, David Marock, Group Chief Executive, Charles Taylor plc said: "This strategic move will give Charles Taylor a loss adjusting presence in Saudi Arabia for the first time and complements our existing multi-line loss adjusting offices in Dubai and Doha. Charles Taylor Adjusting is a leading international loss adjusting business and we have set out our strategy to expand our office network into new territories and regions where there is a demand from global and local insurance markets. We see significant growth opportunities across the Middle East and this move provides us with a full adjusting licence in Saudi Arabia, together with an established operation and a book of local business."
Charles Taylor plc Acquisition of Noble Inspection and Loss Adjustment Company Charles Taylor plc (LSE: CTR), a leading international provider of professional services to clients in the global insurance market, announces that it has entered into an agreement to acquire 60% of the issued share capital of Noble Inspection and Loss Adjustment Company ("NILACO") in Saudi Arabia. The Acquisition is part of Charles Taylor's strategy to expand its loss adjusting office network into territories and regions where there is a demand from global and local insurance markets. The Acquisition of NILACO, a licensed loss adjusting company based in Saudi Arabia, provides Charles Taylor Adjusting with a loss adjusting presence in Riyadh and Jeddah and builds on the Group's existing capabilities in the United Arab Emirates and Qatar. The value of the initial consideration is USD 163,000 in cash plus deferred cash consideration of up to USD 68,000, payable in two parts on 31 December 2014 and 2015. Additionally, under the terms of the agreement, the vendor is required to subscribe for USD 43,000 of Charles Taylor shares on or around completion of the Acquisition. The number of shares for which the vendor will subscribe will be determined by a price equivalent to the closing price as recorded on the Daily Official List of the London Stock Exchange on the day before the Shares are allotted by CT plc. The Acquisition remains subject to certain conditions including, inter alia, receipt of approvals from certain regulatory agencies and governmental authorities.
http://www.investegate.co.uk/Article.aspx?id=201208090700116342J
Charles Taylor Consulting ADD 23/03/2012 Miles Nolan New chief executive David Marock has wasted little time in getting to grips with insurance services outfit Charles Taylor Consulting (CTR) since joining last July. A new corporate identity has been launched, staff are invited to suggest growth avenues and later this year it plans to drop 'Consulting' from its name. Dating back to 1885, Taylor trades from three professional services divisions, all focused on the insurance market but spanning shipping, loss adjusting and technical services. Last year it suffered a 49% slump in pre-tax profits to £6.4m, despite a 3% lift in sales to £102.5m. The dividend has been rebased to a one-third/two-third split, so a same-again 10p payout represents a useful yield of 7% at the current price. The profits collapse was due to a large prior-year profit from non-life insurance companies, so without its reoccurence Taylor suffered. Listed on the main market, the intention is to get closer to its clients, so expect expansion in areas such as Latin America, the Middle East and Asia. Trading from 47 offices in 23 countries, the business is well spread but Marock (formerly at Beazley) is keen to continue to pay down debt so expect organic rather than acquisition-led growth. He says, 'I have been incredibly impressed with what I have found so far, but see substantial untapped potential.' House broker Peel Hunt forecasts 2012 pre-tax profits of £10.5m, EPS of 21.2p and a maintained dividend. The key attraction is of course the yield, but if Marock can work his magic then there may be some capital appreciation to tap into as well. Add.