Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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I sold Songbird as they are being taken over for 350 a share, INL are my long term hold & top up on the dips they are undervalued IMO. I'm not back in BOOM yet, waiting for something to happen there. All in all my portfolio is holding up very well. Think there will be some volatility leading up to the General Election, but hoping February & March are strong months with plenty of trading updates due & good dividends. Cat keeps winding every body up on TW, not sure what this 24th is all about. GL.
Songbird are also doing well but I don't have any of those, Boom aren't doing so well, I am a bit down on INL but I think that's a good one in time.
Another one I really like is AMO, bought at 80p in Oct, topped up at 120 in Jan & 126 last week. They pay a great dividend & definitely one to tuck away for a year or so. As always DYOR. Can't wait for April new F/Y to stick the next £15k ISA in.
Could be £5 by end of year if company delivers on expectations
This has gained me 13% since you recommended it to me brill. and it's holding up well.
Liberum Capital reiterates buy on Paragon Group of Companies, target raised from 442p to 510p
Paragon's own bank is the latest addition to the business model, receiving formal authorisation in February last year. The bank concentrates on three revenue streams; car finance, personal finance and buy-to-let. And last summer, it launched its own internet-only savings product. Overall progress here has been encouraging, with £94m of deposits taken by the end of 2014. The bank also offers easy access one, two and three year bonds, as well as 40 and 120 day notice deposit accounts. Inevitably, starting up a new business line involves significant capital investment, and the group injected an additional £36m of capital into the bank at the end of September. Losses last year amounted to £6.4m, in line with expectations. With the securitisation market now functioning again, the group was able to complete its latest securitisation in November, bringing total note issuance last year to £930m. It also renewed its £250m mortgage warehouse facility with Macquarie Bank, which now runs until December 2016, and the total warehouse facilities for buy-to-let lending now stand at £550m. Cash generation continues to strengthen, too, with available cash rising from £177m in September to £222m in January this year. Paragon is also progressing with a £50m share buy-back programme. Paragon could see trading conditions toughen up when interest rates start to rise, but the effects are likely to be gradual, not least because any rise in rates will initially be small, and look to be some way off. The dividend payout is expected to grow, although the yield remains relatively modest. However, it is the solid cash generation and business pipeline that makes Paragon attractive. The shares are trading on a modest 10 times forecast 2016 earnings and just 1.1 times forecast net assets, which gives plenty of room for advancement. Buy.
There may be a lull in housing activity ahead of the general election, but buy-to-let lending to professional landlords is still going from strength to strength. The Paragon Group (PAG) is one of the key suppliers of such finance, and in the three months to January this year buy-to-let completions at Paragon rose 58.4 per cent from a year earlier to £222m. And there is no sign of demand drying up because the pipeline of loans at the end of December stood at £417m; that’s nearly double the amount from a year earlier. Credit quality remains impressive, too. Arrears on the buy-to-let portfolio stood at just 22 basis points at the end of December, down from 25 in September, while redemptions fell over the same period from £107m to £97m. Paragon caters mostly for well-established professional landlords, typically with a dozen or more properties. There is considerable security here because in cases where arrears start to grow, the group has recourse to using a property's rental income to meet repayments. And where this is not possible, the property can be sold to redeem the mortgage, which is usually not more than around 70 per cent of the property value. One of the strengths of the Paragon business model is the diversity of income streams. This reflects the group's success in addressing the adverse conditions that accompanied the financial crash, a time when the share price collapsed from over 1,000p to just 31p. The problem then was that, as well as a complete freeze in the wholesale finance market, there was also a total moratorium on securitisation. Prior to the crash, Paragon would bundle up a parcel of buy-to-let mortgages and use them as collateral to issue bonds. These were consequently removed from the balance sheet, leaving the group's "warehouse facility" with banks replenished and available to make further loans. While the crash left Paragon ticking over, it was at this time that plans were hatched to reduce the reliance on mortgage lending. Since then, it has moved into car finance, buying up distressed debt from banks anxious to reduce their debt portfolios, and has also opened its own deposit-taking bank, a useful source of finance which reduces its reliance on the wholesale money market. Buying up packages of distressed debt has really taken off. Under the group's operating arm, Idem Capital, net investments last year nearly doubled to £175m, taking outstanding balances up to £427m. These debts are purchased at significant discounts to face value, a useful buffer against the inevitable batch of non-performing loans. Cash performance remains strong though, and Idem contributed £48m to group underlying profits last year, up from £35m a year earlier. Paragon's own bank is the latest addition to the business model, receiving formal authorisation in February last year. The bank concentrates on three revenue streams; car finance, personal finance and buy-to-let. And last s
Just in time to tuck some more away in the ISA then!
company adding almost on a daily basis bodes well. Also expect buy-to-lets to get a lift up following pension fund releases post April giving this an opportunity for further gains this year.
WOW! What a company! "Strong cash generation from the Group's various loan portfolios has underpinned the increase in available cash balances to £221.7 million at 31 December 2014 from £177.3 million at 30 September 2014." "The Group announced with its full year results in November 2014 an intention to commence an initial £50 million share buyback programme. To date, 1,000,000 shares have been acquired at an average cost per share of £4.03. " "The Group is well placed to generate further growth in each of its target markets and continues to focus on improving shareholder returns through active capital management."
Still buyers ahead of the ex-div
Nice
Buying ahead of the ex-div position on Thursday 8th paying 6p per share.
Hasn't been this high since before the recession. This used to be almost £12 a share before the big crash. Since then it's been slowly clawing its way back up the chart. A steady growth stock which pays dividends - quite a rarity on AIM. Since it opened its own bank in Feb 2014 we should start to see the benefits of that coming through also. http://www.paragonbank.co.uk/
£700k !!! Getta load of that uncrossing trade!
Keeps buying own shares, great position like it.
Great week Loving it
It's been a good week
Thanks iceguy. I have been doing really well with most shares, except Quindell & premier foods. Its scary when you realise that your holdings are now much more than just ' play' money!
I would wait it's peaking at 412 ish But dropping as low as 400 ish I bought sold other day and did well bought back in and just in profit Rumour is it's about to jump but whom knows As always do your own research and ask as many views as possible
Hi from fairly green trader. This is my first posting. I have been watching Paragon for some time and have personal experience as a BTL landlord with several mortgages. Is the share price too high now to invest for medium term growth? Also when broker quotes target price of 450, is that the price to sell at? Thanks
We are on the up today !
PAG Paragon ......hTTp://www.cityam.com/1416967256/paragon-banks-shift-home-owning
7 Nov 2014 Paragon Group of... PAG Berenberg Buy 414.05 403.10 450.00 450.00 Retains SP target 450p