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I can't argue with that, I have no plans to sell anyway but it would be nice to hit the new year with a nice increase in the SP
I was doing a wee bit of homework here today to pass the time and I note that the share price tends to retrace post results announcements and then grow albeit haphazardly during the proceeding month or two. I also not we are approximately 20% down on yearly highs which would appear a bit unmerited on what appears to be continual growth during the course of the year. If we have good figures tomorrow and there is an unjustified retrace I have funds available to take advantage. In the unlikely event of an aim company rising on a good set of results we'll just have to count our money sir. Whatever, if results are good I expect the yearly high to be bettered bye Christmas !!!!!! D.
I agree. There has been nothing reported by FP for months so is perhaps a steady 6 months, a small increase, unlikely to go down as their portfolio is not limited to the UK, fingers crossed, I think 60p was mentioned but who knows
This one appears always to have operated well under the radar of most investors ii and pi. Let's hope if we do have the good results that the few on here are anticipating we could feature on the lse daily risers chart. At least that would get us noticed by a few more investors. Not holding my breath mind you. D.
According to Steve Thompson he had this as a buy some weeks ago as this share will increase, who knows by what level, following the interim results on the 23/11/17.
I wholly agree with your post-brexit sentiment that is something I think about very carefully now before I invest in different companies. Although I'm lately of the mind that brexit may be something that gets set aside. I don't think the muppets in parliament, all parties could deliver the morning papers let alone negotiate and deliver the correct, proper and fair to all sides brexit deal. My opinion only obviously. D.
I've been invested off and on in FPO for years now and currently have a modest holding. When they were in the 17-22p range I was often the only poster on the LSE board for months at a time. For some reason FPO is off the radar for may PIs. I have confidence in this co and intend to increase my holding over the next few years (partly by re-investing the divi) and plan to have it as a significant chunk of my share portfolio when I retire. Because of the significant European business this is an ideal post-brexit play offering some security.
Thank you for the reply. I came across fpo for the first time two weeks ago while thumbing through back copies of IC. I can't see the price dropping much lower before results so will get in this morning. You never know sub 50p might be the bottom. D.
What you want to do is to listen to the IC podcast where ST points out that FPO is going to announce amazing results and is making way beyond what is expected.He said people should be buying FPO all the way up to the 23rd Nov as the results will be spectacular. He recons 50% onto the shareprice wouldnt be out of order and he was saying that when the sp was 55p. So this is a bargain never to bee seen again price . Or some disaster as yet unknown to us all has occurred ? Im thinking its a bargain. You see people bought but then the silence worries them so they run out of patience and sell. ST has gone silent and this spooks people but he has gone silent for a reason. He is on holiday. He is back from holiday on the 22nd of Nov just in time for the fireworks. I have been adding.
Interim results due 23rd .Nov. Not in here yet but will be before 23rd. Spent the last few days going through recent balance sheets and I'm certainly not seeing anything detrimental to a reasonable investment, Dug out the article in June's IC. alluded to in an earlier post, their small caps guy Simon Thompson was very bullish about FPO then at 53p. Fundamentals appear to have improved dramatically since June yet share price has backtracked. See a few posters on here am i missing something Guys/girls. D.
'At the AGM, the Company's Chairman, Alasdair Locke, will make the following statement: "I am pleased to report the Company continues to trade well and in accordance with management's expectations. "Our aggregate funds under management, including those held by the Group, currently stand at £564 million, compared to £477 million at our financial year end on 31 March 2017. Of this, £387 million is managed on behalf of third party clients, an increase of 24% from our financial year end. "The majority of this increase in assets under management results from £51 million of new investments made on behalf of Fprop Offices LP, which was established on 14 July 2017. That fund has additional equity commitments of £131 million to be invested, which will result in our assets under management increasing further in the coming months...." '
yes, it is mystifying that small cap investors aren't more excited by all this! time will tell, GLA
yes, it's mystifying that small cap investors aren't more excited by this! time will tell... GLAH
FPO are fast approaching £1 Billion pounds in assets under management. They already have total assets under management og £477m Add to that the recent new mandate for £182m which they can leverage up to £260m But take into account this is the first call the second call for this fund comes this year. "The Fund closed its first round of funding on 14 July 2017 with equity commitments of £182 million, including a commitment of £3 million by First Property. A second closing with additional equity commitments is expected later this year." So if they raise a similar amount in the second call they will be managing assets over £1 billion and rising. This is way undervalued and Arden partners will be updating their figures soon to reflect the new business. This will wing its way to £1 and then£1.50 GL if you hold.
This is just some of what Simon Thomson said in a recent Investors Chronicle podcast. He basically has it as a screaming screaming buy!!. For the full report its best you sign up to the IC online as its worth every penny. "There is a few that really stand out ,the first is a property fund manager called First Property Group or FPO. The stock price is around 55p however after what they announced this week Ive upgraded my target price massively. They have won a mandate with 8 Institutional investors to invest in office blocks and business parks across England. Its got a 7 year term the mandate ,they have raised £182 million pounds they can gear up the fund to £260 million they have 3rd party assets under management currently of £323million so this is transformational this is really HUGE and whats really of interest is instead of taking a management fee they intend on taking a share of the profits and running through the sums on this with house broker Chris Thomas from Ardens Partners whom I really respect at a minimum they are going to make £1.1m contribution to the pre tax profit,last year they made £8.6 pre tax profits so thats about 12% And that only assumes that if the new property fund makes a 7.5% return on equity, if it makes between 7.5% and 15% ie capital gains could actually enhance it then FPO get a massive 25% of the profits!!!. Its Extraordinary numbers and they are backing themselves they have actually said to these investors look , we will forfeit the management fee as we are so confident we can find you decent properties at the right price the capital gains upside as we are willing to take a share of the profits and they have invested a small sum of their own money in this well I mean this could be MAJOR. The chap behind it Ben Habib was smart enough to call the top of the market in property in 2006 and then invested in Eastern Europe and made a bundle from that and then got back into the UK after that and he has been winning mandate after mandate. Whats also interesting is the euro rate has improved in the companies favour for most of the year so that alone beats forecasts and will add about 700k to profits.This is a company thats going to have upgrades as in more than one along the way.And Chris at Arden Partners has not yet updated his forecast yet so with guaranteed earnings upgrades I rate this one massively.Its a win win situation and I have upgraded my target for this one . This is not their first mandate either ."
Tipped again in today's IC column, very positive.
I think it just got taken down with the market,like you say should be 60p easy after them results,we will have to wait for the markets to calm Down after this election and wait for the results and commentary to trickle through to the press over the weeks ahead.
Yep I think some people went for a quick profit after the opening rise and have dragged us down, and some see this stock as politically exposed due to Ben's comments about Brexit. Also some fears that a sterling recovery will take away the currency boost FPO has benefited from. But the company is well​ positioned and sterling won't be at it's prereferendum heights any time soon, even with a Conservative victory later.
Agreed. Ahead of expectations...and down she goes. ST will give it a boost next week though. 60p looks fair to me.
Fantastic results today! Profits up,funds under management up, Dividend up as well. Very good indeed.
Arden Partners raise pre-tax profit estimate by £300,000 to £9.7m for the 12 months to 31 March 2018 to produce EPS of 6.3p, up from 5.6p forecast for the financial year just ending. Maybe higher due to conservative exchange rate calculations. Results out 8th June.
Second chance??