Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Are back!
4p only, lower end.
This is key for me. The white flag is up. Investors are done waiting.
More jam than Hartleys !
While the picture has improved, we need to do more to drive performance and we have identified immediate actions we can take in 2024 to create value, including substantially reducing our cost base, driving claims excellence and optimising pricing capabilities whilst returning us back to higher quotability levels.
Shock operating loss, lucky for the fireside gain on the disposal.
Ageas should move today. Popcorn ready.
I suspect another Ageas offer will be listened to, as the update was underwhelming. The dividend of 4p has only appeared because of Ageas, otherwise there wouldn’t be one, and full resumption is not guaranteed. DLG looks pretty vulnerable.
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.
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!
Not good, will drop
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.
May think twice about adding unless 160s.
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.
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.
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.
As expected buoyant markets holding this up for now. Sems 204 test held.
Or ... the market suspects that a third bid may get over the line?
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.
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.
That's a completely nonsensical way to calculate an average.
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.
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.
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.
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