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Agreed. Good results but only 21c final div and 10c special? hardly worth bothering. Years ago they were paying around a $1 per half. Would have preferred a bigger dividend.
No debt. $930mill in the bank. Proper Firepower. Average customer holding up from $5k to £8k. More buybacks (I'm a bit 'meh' about buybacks now - perhaps the thoughts are to get the shares in circulation down to just under 90m?) and two dividends announced. Part of me wishes they'd put the next buyback amount into a dividend but hey - not complaining too much. Japan looks interesting and we've not seen the US really hit hard yet - hopefully that'll start to come through for us in 2023 and beyond. Feels positive. Now all they have to do is join FTSE or NYSE. That would supercharge the shareprice imo. Break the £20 issue once and for all.
I too remember the £20 days of 2018, my initial investment in February that year had doubled in six months.
I'm really surprised it has taken so long to get back to toward that level. Still the intervening period has allowed me to top slice and average down, so I shouldn't grumble. Even more so when you consider that in sterling terms the eps in last month's RNS is more dramatic $3.80 vs $3.06 equates to £3.17 vs £2.27 when you factor in the 2022 exchange rate and then there are the share buybacks. I do wonder what would happen if they re-listed in London.
... would we immediately jump to £25
I remember those days as well when we hit £20 and I thought about selling but held on, then the results threw a curve ball at the end suggesting next year would not be so great and that was that. Following from that there was a separate profit warning then then other issues saw the shares revisit £5 within a year.
Looks like yesterday was an aberration and we are getting the anvil and Hippo today.
Completely agree on your synopsis MrBB - we're in a totally different place, now to then. The saudi thing is interesting - just one customer there (an oil sheikh) could be than some countries!
The US is interesting (and again, we've not even scratched the surface of what that market will do). Not even scratched the scratch that scratches the actual scratch imo.
Long term hold for me. There's only 92mill shares in circulation now too.
I originally bought shortly after IPO & , as I recollect that an unexpected profits warning was issued shortly after we were advised that we remained "on track"& our SP plummeted , so I bailed completely having then lost faith in our CEO.I did buy back ( half the amount I originally held) & believe we area much stronger & more diverse company than we were then.Apart from our massive cash holdings & very acceptable yield ( particularly based on cost ) we now have around 18% less shares in issue following years of buy backs & , unless the unexpected happens ,again, I view Plus as a core holding-especially as we appear to be gaining traction in the substantial US market.
It will be interesting to see if our SP continues rising whether a bonus issue will be made to make our shares more tradeable
Just looked it up. It hit £20 on the 9th Aug 2018 (a thursday as it happens) and someone said they'd sold - general consensus was that that was the wrong decision. RNS comes out Monday and there's an immediate £1 off the price and by 23rd Aug it was at £15......and falling!
The last time it got to £20 (2018?) i distinctly remember another poster on here saying 'I'm selling' because it had hit the £20 and there was a results announcement due the next day. He sold (because he was worried it had hit it's top value) .......whilst i bought into the 'it's going to hit £25 in 6 months time brigade'..............and lo.........the next day Plus put out one of their classic 'it's been a disaster and we didn't give you guys any idea and moreover we've decided to write this disastrous news in an RNS announcement that is particularly hard to read and in fact raises more questions than it actually answers, coupled with the fact that it's extremely hard to work out what is or has happened to the business since the last RNS announcement' .....and that was that........the share price tanked like an anvil attached to a hippo chucked out of a helicopter. Thankfully those sorts of announcements are a thing of the past.....but £20 is a big deal for me although the fundamentals (with nearly £11 a share in cash helps) are totally different now (on every level, inc far better written announcements, which, trust me, compared to what we used to have to decipher/read between the lines, is very welcome. Let's see what happens for the rest of the year.
Technically not as they were higher in 2018 briefly...think this will be longer at this sort of level though
taken the shares to an ATH
RNS today-wont be material but likely to be a very profitable part of our EMEA business in an area where markets were presumably previously unregulated
And no debt. $900mill in cash and no debt. And america hasn't come on stream yet either. Bodes well, hopefully, for the future. Only issue is the cost of acquiring new customers and keeping hold of the high net worth consistent traders.
The World Cup affected trade in 2022 as it did last time, but despite everything trade was "excellent". Given further tail winds this share should do really well in the future. Even today's rise is not as much as the fall in share price yesterday.
This was an unexpected bonus this morning as I wasn't expecting any news until the February results. Hopefully this will reverse some of the heavy falls we have seen recently.
The very positive underlying message is that our US subsidiary is making good progress 7 while revenues,profits & cash flows are likely to be immaterial,currently, the potential exists for these to grow exponentially & increase our profile in the US & , perhaps, one day, we will be afforded a higher rating,consistent with that of our peers.
which is nice in itself tbh - Plus has had a habit in the past of dropping bombshells in these trading updates (but they've couched the bombshell in Plus speak and so a certain amount of deciphering and reading-between-the-lines has needed to be undertaken by the collective to uncover the actual truth). They've stopped doing that in recent years however.....so to read that update and not have to worry about deciphering is a postive in itself.
RNS is positive if unspectacular - hopefully sp rise today.
It’s like the old saying bulls climb up the stairs and bears jump out of the window!
Is there a forced seller? Yes,this selling has gone on for some days now. On Friday Plus tried to support the price by buying nearly 50k shares. Recently, directors were given a lot of shares. Are these being sold steadily?
A Trading update is due very soon covering the whole of 2022. Hope trading is good in the US and Japan, and adding more cash in hand to total about $1 billion.
Brokers saying this is worth more than 2500 pence per share.
Plenty of upside then.
Quite some drop from the top. Any reasons one can think of?
Tom - as I posted yesterday, I still think this recent drop has something to do with the Black Rock announcement. Even if BR aren't a forced seller, maybe the disclosure of illiquidity within its UK Property Fund has created market sentiment that the SP is more likely to fall than rise in the short term.
Volume bought back yesterday 63.5k which is slightly more than double the recent norm. Maybe this is just reflects the higher than normal trade volume.
Let’s hope that the privileged few aren’t bailing ahead of bad news -high volume today with twice as many sold but coikd be a forced seller
I think PLUS hit an ATH on Friday so possibly a technical pull back.
Property funds often get 'gated' to prevent withdrawals due to the illiquid nature of buying and selling property. I wouldn't see how that would affect PLUS as that would be in an equity fund. Maybe we will have a major holdings RNS in the next few days.