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lasted 20mins for retail share buyers by 8.30 it was back to slow and calm= only city slickers jumped in = the likes of us will have to see if fear hits again .
Interesting drop, bouncing along at £4.80, a bit of bad news and the share drops 50%.... is it a bargain now its recovered a bit to £3.24 or will the newsflow keep this down? Tempted to buy a few in a week or so, any opinions...?
http://uk.finance.yahoo.com/news/HomeServe-suspends-staff-mis-tele-3843098161.html?x=0
HomeServe offers cover for domestic emergencies such as burst pipes, broken boilers and blocked drains. HomeServe markets itself through utilities such as Thames Water. The attraction of the business, aside from that growth, is the recurring nature of the income, paid by direct debit. The shares are pricey, selling on about 17 times this year’s earnings, but this seems justified; buy on any weakness, says the Times.
Barclays Capital initiates equal weight on Homeserve, target price 511p.
Homeserve, which offers insurance against a range of household misfortunes and sorts out repairs when they happen, has already proved that it is one of those rare British businesses that has been able to replicate its success on the other side of the pond. Given the company’s growth profile it arguably deserves a premium rating. But it’s still starting to look stretched and we think the share price could easily pause for breath. So use yesterday’s gains as an opportunity to take profits, says the Independent.
Brewin Dolphin upgraded HomeServe (HSV) to "buy" from "add" with an increased target price of 600p, from 566p. The broker improved its recommendation following a positive interim management statement from the insurance company and expects the group to achieve a 3% customer growth rate in the UK. Brewin believes that the firm's current ratings, a price to earnings multiple of 16.9 times for 2012 falling to 14.6 times in 2013, are too low for the business, which it claims has proven its resilience and growth potential. Shares in HomeServe fell 4.8p to 418p
Homeserve sells insurance for home emergency repairs, with its network of tradesmen able to sort problems ranging from burst pipes and broken boilers, to broken electrical appliances and getting your locks changed. Whilst the shares look a little expensive, trading at 19 times earnings, the company will hope that continued expansion overseas leads to a substantial increase in the number of policy holders and helps to drive growth. The Scotsman says buy.
New markets Our test marketing activity in Italy and the development of a manufacturer warranty business within SFG in France have continued to make good progress with marketing take-up rates in line with our expectations. The 'new markets' segment is expected to report an operating loss reflecting our investment in marketing and additional country infrastructure costs. Financial position The business continues to be highly cash generative with net debt expected to be around £20m at the 31 March 2011 (FY10: £52.9m).
Summary and Outlook HomeServe has seen a good finish to the financial year and we expect to report another year of strong growth in profit in line with expectations. We continue to see good customer and policy numbers and an excellent performance on retention across all our businesses. United Kingdom In the UK we have continued to invest in our marketing activity with the campaigns delivering strong customer and policy growth. Customer numbers at the end of February 2011 were 3% higher than at the same period in 2010 and we are confident of achieving towards the top end of our 3-4% customer growth target for the full year. The UK retention rate has also remained high and we expect the full year rate to be at least 82.5% (FY10: 83.0%). UK policy numbers are expected to be around 6% higher than a year ago with both Plumbing & drains and water supply pipe policies and Gas and gas supply pipe policies growing during the year. USA Our US business is continuing to perform strongly. We expect to deliver customer growth of over 50% compared to a year ago with policy numbers increasing by over 70%. We continue to build momentum in the US with the acquisition of the 135,000 South Jersey Energy Service Plus (SJESP) policies on renewal and the additional 0.9m affinity partner households with SJESP and Millennium Energy announced earlier this month. We now have 21.3m affinity partner households with 17 partners in the US and discussions are ongoing with a number of other potential future partners. Domeo Domeo's new marketing campaigns introduced at the end of the first half of the year have continued to gain momentum during the final quarter of the year and we expect gross new policies for the full year to be around 0.5m (FY10: 0.5m). Total customer numbers are expected to be around 9% higher with policy numbers up around 12% compared to 31 March 2010. Spain In Spain, we have continued to achieve strong growth in both customer and policy numbers and will exceed our target of doubling the number of customers and policies during the year.
http://www.investegate.co.uk/Article.aspx?id=201103310700119661D
Strong year for Homeserve Date: Thursday 31 Mar 2011 LONDON (ShareCast) - Home emergency repairs outfit Homeserve expects strong growth in full-year profits, as predicted before, and is confident of hitting the top end of its customer growth target. “We continue to see good customer and policy numbers and an excellent performance on retention across all our businesses,” it said Thursday. Analysts are looking for a profit before tax and exceptional items of between £112m and £117.7m. The average is £116.2m. In Britain, customer numbers at the end of February were 3% higher than a year ago and the full-year figure should be nearer 4%, it says. The UK retention rate will be at least 82.5% and policy numbers will be up about 6%. The number of customers in America is expected to have risen 50% in the 12 months to 13 March, with policies up 70%. A “highly cash generative” business has more than halved net debt from £52.9m to about £20m. LW
Richard Harpin one of four shortlisted for Entrepreneur of the year. W/E FT Article. http://www.ft.com/cms/s/0/998a47be-33a7-11e0-b1ed-00144feabdc0.html#ixzz1Dq5P8naB Richard Harpin is chief executive of Homeserve, the company he founded as a joint venture with South Staffordshire Water in 1993, with an investment of £100,000. It is a rapid-response mender of broken pipes and electrical wiring, as well as locksmith and pest controller, serving 3m British households for an annual fee. Homeserve is now a FTSE 250 company that is continuing to grow in all its markets. Last year, Mr Harpin put up £50,000 of his own money to fund a new initiative at the Scout Association: an entrepreneur badge – for those scouts who show an aptitude for business or fundraising
HomeServe (HSV) has continued to grow and develop its membership businesses, the home emergency repair group announced in an interim management statement for the period from 1st October 2010, with good growth in customer and policy numbers. The company, which works with a wide range of major business partners across the world, said customer numbers and policy numbers at the end of December 2010 stood at 4.8 million and 10.9 million, respectively. This was, for both, around 14% greater than the comparable period a year earlier. HomeServe shares pushed ahead 10.7p to 462p.
i bought this yesterday.....anyone tell me ........what happen effect going down?but i know this share was huge company.
how will this dilution affect the divi payout,will it remain at the same amount per share?
Share sub-division Subject to approval at today's AGM the proposed 5:1 sub-division of the share capital of the company, announced in the Group's preliminary results, will take effect from Monday 2 August. The sub-division will increase the number of shares in issue from 65,752,458 to 328,762,290.
Massive drop and no posts? whats going on?!
buy
See my post dated 15th June '09 - I am moderately pleased. What we now need is a Ftse-100 position and a share split too.
Homserve Emergency Services sold in a managment buy-out, Homeserve to continue with thier policies part and Emergency Services to be re-named 'Evandor', To be announced in the very near future.......
It has been around six weeks since Homeserve announced the sale of the Emergency Services part of there company. I have it on good authority that a buyer has been found and will be announced in the very near future. As far as i have been told there has been a management buyout by the following people. Ian Carlisle - former Chief Executive - resigned January 2009 Ian Shipley - current Managing Director - recently promoted from General manager Alan Horton - current General Manager This will free Homeserve to concentrate on policies and warranties which is the profitable side of the company. The Emergency side will be run by current and former management. I think the market will recieve this positively.
I echo that opinion. Watch how HSV grow in the US that will be where the real gold will be mined
I would expect the share price to increase even more when they anounce the sale of the emergency part of the company. I heard a few weeks ago there where 12 potential buyers which has reduced to 4 serious potential buyers. The timescales i heard where 1 month to agree a buyer and up to 2 months for valuing the emergency assets before the contracts are completed. They would not announce the sale of this part of the company without knowing they could sell it. As i said previously, the sale of the emegency part of Homeserve will give the city boys a clearer vision of the company where they can concentrate on the more profitable policies part of Homeserve
The share price has recovered reasonably well - so some one must like them.