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Still moving ahead.
Volume is the key and there is plenty today 271K so far
Yesterday at this time there was only 42K, so is 8 times
BREAKOUT
123p +3p
Has gone over the last Intraday high
Intraday chart... http://uk.advfn.com/p.php?pid=staticchart&s=L%5EREDD&width=475&height=330&p=0&t=1&cb=
Very close to a Breakout if done then aiming for 125p
Chart .... https://uk.advfn.com/p.php?pid=chartscreenshot&u=6%2BASa%2Bw%2Bzfur33XgkGxdBjxEbMqVruSHwmEzwPoVYw8%3D
Someone is very interested in getting stock as after hours there was a good size buy deal 65K
12-Sep-19
17:10:28 120.00 65,000
120p +5.20p
A very good bounce today after the last couple days of retracement
There was some demand for the stock on the order book after 10 am to the end of the day with UT at 120p with 35K, that was the lot place at this higher price on the order book and all was given.
Noticed the "AT"s after the close almost the same amount as the UT.
The volume today was about double 851K of the last couple days of 436K, 360K and 408K
RNS
Name Société Générale SA (SG SA) Puteaux, France
5. Date on which the threshold was crossed or 09/09/2019
6. Date on which issuer notified : 10/09/2019
7. Total positions of person(s)
Resulting 6.88%
previous notification 5.99%
Steady progress on the share price after the Marked down at Opening with UT at 115.20p, order book act funny sometimes, and this was the case today, currently at 119.40p and plenty of "AT"s being taken at this price
Spiking UP after crossing 116p and going all the way to 121.20p
Intraday chart
http://uk.advfn.com/p.php?pid=staticchart&s=L%5EREDD&width=695&height=400&p=0&t=1&cb=
118.20p +6p
Richard Griffiths managed yesterday to increased his stake to 9.81% from 7.67%, most likely he was happy with the results and more yet with the dividend ....
Name Richard Griffiths and controlled undertakings
5. Date on which the threshold was crossed or 5 September 2019
reacheed of 8. A) (total of 8.B 1 + 8.B 2)
Resulting 4.49% 5.32% 9.81% of 306,706,045
Position of previous notification 3.43% 4.24% 7.67% of 306,706,045
From the "UPS" thread ..........
REED 114.40p +2.10p
Redde alert - By Alex Newman - 5 September 2019 - Investors Chronicle
On the surface, there is much to suggest Redde (REDD) is trading well. Though margins fell in the year to June, the vehicle replacement specialist saw a 9.4 per cent rise in credit hire cases, a decent utilisation rate for its expanding fleet, and increased demand.
Look beneath the bonnet, however, and gremlins that contributed to the sell-off in the group’s shares earlier this year are still there. For one, the working capital strain has worsened, as debtor days climbed to 116, up from an average of 109 in the first half of the year and just 91 in the year to June 2017.
And while current assets rose from 112 to 116 per cent of current liabilities, trade and other receivables continued to climb, from £181m the prior year to £220m at the end of June. Given the group often already discounts claims in return for a supposedly more efficient and faster settlement process, it should be of little surprise that management is now taking a firmer line with insurers who take the discount and then defer payments at their leisure.
“If the group has to sacrifice some debtor days to preserve value, then it will do so,” is Redde’s new position. The decision of one insurer to return to its protocols after life on the outside has, apparently, only added to that conviction.
Consensus forecasts are for earnings of 13.5p per share for the 12 months to June 2020.
REDDE (REDD)
ORD PRICE: 112p MARKET VALUE: £ 342m
TOUCH: 111.2-112p 12-MONTH HIGH: 200p LOW: 82.3p
DIVIDEND YIELD: 10.4% PE RATIO: 10
NET ASSET VALUE: 52.5p* NET DEBT: 22%
Year to 30 Jun Turnover (£m) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p)
2015 249 24.3 9.0 8.3
2016 379 31.3 8.7 9.7
2017 472 31.8 8.9 10.6
2018 527 38.8 11.4 11.65
2019 590 41.7 11.3 11.65
% change +12 +7 -1 -
Ex-div: 03 Oct
Payment: 07 Nov
*Includes intangible assets of £99.2m, or 32.3p a share.
IC View
The return of a large insurer newly convinced of the cost-effectiveness of Redde’s claims protocols is an important development. These high-yielding shares look cheap, and tempted investors should now watch for signs that the strain on cash flows is abating. Hold.
Already "AT" 114.40p
Broken from the downtrend chart
https://uk.advfn.com/p.php?pid=chartscreenshot&u=4%2Bai8%2FyIRFpGHvQGJR9XnAS3rg%2FuuAbeF8614ufc9PU%3D
Results much as expected, but they have held the dividend 11.65p and that was over 10% yield, but now just under after share price rise
" Improved revenue and profits in a challenging year
Operational headlines
-- 9.4% growth in credit hire cases
-- Total number of hire days increased by 10.7%
-- 5.2% increase in number of repair cases
-- Year end fleet up 10% to 10,711 (2018: 9,741) - reflecting increased demand
-- Revenue generating fleet utilisation maintained above 80.0% at 81.5% "
Bruce on June 10th 42Trader was incorrectly referencing a previous RNS in May which showed the Woodford holding increasing by 1%.
Woodford dumped 8% yesterday , part of this was taken up by Griffiths.
First RNS yesterday looked like a take-up of nearly 120 million shares... (not a reduction).. the confirmation of a whopping chunk let go from Woodford was the later RNS.
There is an RNS yesterday confirming the reduction. There is another RNS also yesterday giving the reduction from another holder.
Woodford topped up in mid-May to 28%. Can't see any reduction in holdings you refer to.
Sentiment is weighing on Woodford held shares. Redde is held in his income focus fund, representing 4% of that fund. The fund has been frozen from redemptions and holds a high proportion of liquid listed companies (e.g. housebuilders, tobacco).
Correct about Woodford, but not sure its good to top up. Woodford has sold just 1% with another 27% left. Got to wonder if more will be sold and whether that will be the catalyst for others to sell.
I guess this is likely being pulled down due to Woodford dumping his shares; a good time to top up for income
This is not looking good. From 180 to 100.
just been paid 14 days max on a non fault claim at 25 a day,insurance firms clamping down on hire car costs , not good for redd
https://www.investegate.co.uk/redde-plc--redd-/prn/holding-s--in-company/20190507150647P6D07/
Always check elsewhere for released rns.
Another one missed by this site. They showed the Woodford increase holding though!
Canaccord reducing heir holdings.
https://www.investegate.co.uk/redde-plc/prn/holding-s--in-company/20190409130905PA68F/
Almost getting there, 130p soon!
I was more worried about the drop in cash and increase in working capital.
No doubt the SP wont reach 180p any time soon. Profits will be 8.7% lower. Does this warrant a 50% fall in the SP? I personally think not.
A recovery to even 20% below before the announcement would be over 130p. A nice 40% gain for those who chose to buy on the dip.
There is no impact on 2019 working capital versus expectations as nothing has changed. 2020 working capital will now be better than 2020 expectations, which I have assumed will positively impact net debt.