Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Another profit uplift; Boring-Ed is turning into Steady Eddy:
"Continued positive trading momentum throughout Q3 of 2022/23 has given the Board further confidence that full-year trading will now be further ahead of the latest market expectations"
the report says no anticipated dividends while the focus on growth per their 2020 plan - so not looking like anytime soon. Nontheless really good results and would nice to get back to closer to my entry point here!
if only AIM were that simple. big step forward for the company however, i'd like to see an update on the dividend status but otherwise quite promising in my opinion
Those words from the interims should be liked by the market... + 50%?
Tangible progress; the 40% discount over Net Tangible Assets (NTA) of £32 seems too high, with the assets returning around 10% profit on the NTA value. I look forward to watching the body language in the next presentation.
a little nudge up so far today but this has to be the slowest of slow burners in history. this is such a boring company
TIME have opened at least one new branch and employed many more staff; easy to increase lending, but I am more interested in the bottom line. And there is no mention of that yet, and I would have expected it to be mentioned if there was significant improvement.
As usual, what is not mentioned could be more important.
Net Tangible Assets are double the Market Cap. With a bit of luck somebody might buy us out given we are half-price.
Not happy here until they re-instate the small dividend.
i do find it quite distasteful that senior management need another whack of shares in order to be incentivised (motivated) to do the job they are being paid to do. admittedly the dire performance isn't all down to ed rimmer but he hasn't exactly set the place on fire since he turned up, has he??
Any small crumbs left for us shareholders?
It looks like the market only reacts when Ed buys shares.
Great to see director's having faith in TIME to buy shares.
Just need the dividends now .....
Looks like a coordinated effort to show the market the directors believe the the company is undervalued.
It strikes me that the company is doing the right things and having survived the pandemic.
There is now a recession to get through.
I may be hasty, but bought a few more today. I'm looking at a medium term outcome.
I sort of agree, but patience is wearing thin. The decreases in loans in forbearance and arrears does indicate that the quality of the loan book has improved. The 40% discount to 'Net Tangible Assets' could prevent any further falls in share price, and the 'unused lending headroom in excess of £60m' must offer hope for growth.
Unfortunately, I have called this wrong to date, so am reluctant to add any more at what already seem bargain prices. And with the current week market conditions, if anybody tries to bail today, I see the price dropping even further into bargain territory.
Deal origination up, arrears down all bodes very well for next year’s profits.
Always have to be careful with adjusted profit measures but in this instance I think it’s all above board. Certainly 1m non cash goodwill impairment can be added back. 0.3m loss in a discontinued operation and 0.7m redundancies from that division, although genuine cash costs, are not going to repeat.
Future looks steady, price looks cheap.
Very low volume so the price is fluctuating.
Picked back up quickly.
Expect higher volumes by Thursdays update.
I would say general market gloom on inflation, interest rates and recession fears.
This won't be climbing until they re-instate their small progressive dividend
I posted this in October last year - are we really going to see the teens?
'The share price keeps sinking - will it get to the stage were they are paying shareholders to buy the shares?
If it drops all the way to the teens I may get tempted to buy more...'
so they like to take a punt then. seems about right
From Arena's website:
'We also invest directly in assets or securities via purchase on an opportunistic basis.
Specializing in off-the-run, stressed, distressed, illiquid and esoteric special situation transactions, Arena’s team has deep experience in developing and designing structures to meet the unique needs of the situation or asset.'
https://arenafinco.com/investments/consumer-assets/
"Arena Investors is a global institutional asset manager that provides creative solutions for those seeking capital in special situations."
https://www.arenaco.com/
Finance company buys 20% of UK tiddler finance company? Most unusual, so an interesting new shareholder. What will Mr Market make of this?
Just shedding some light on the recent TR1 for TIME. This is direct from the Wellesley website and provides us with a reason for their sell:
"After seven years of trading, 2020 presented unique and unforeseen challenges that hindered Wellesley’s future liquidity position. This included the Covid19 pandemic and proposed changes in the regulatory environment which meant that Wellesley may no longer be able to raise funding through the issue of listed bonds on Euronext Dublin (formerly the Irish Stock Exchange). As such, Wellesley has entered a course of action to restructure, recapitalise and address these challenges accordingly."