Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
https://www.youtube.com/watch?v=lCZCv98XKFs
"They're out of sorts in Sunderland
And terribly cross in Kent,
They're dull in Hull
And the Isle of Mull
Is seething with discontent."
Revenue down 30%
Loss for period of £0.4m
Dividend down 20%
Conditions "remain challenging and are likely to be so for the foreseeable future."
Aaaaaaaaaaaaaaagh!
Re Woodford, I think they are referring to the large number of unlisted investments held by JUP funds, and the fact they are now liquidating some assets to raise cash. AuM is falling noticeably. I hold, but wish I had sold a while back!! New management is required here.
That is, no short squeeze here!
Declared short interest rising, but still under 2%:
https://shorttracker.co.uk/company/GB00B53P2009/
DLG are seeking to concentrate on low risk insurances, so if you are young, old, have a sporty motor, or a poor driving record, they will be expensive.
On a PER of 7.5 it is not expensive.
No holdings RNS since 9 June? Traded volumes remain low? None clear yet, nor likely to be.
BUT, of interest? https://www.bbc.co.uk/news/business-62437819
...this Thursday 4 August.
But margins being squeezed.
Short interest here is sub-1%.
For jonathb: It was just a broker report "Jefferies cuts Jupiter Fund price target to 120 (220) pence - 'underperform'". You need to subscribe for full details. Results due on Friday (29th).
Berenberg upgrade from "hold" to "buy". Price near a five year low. Should remain nicely profitable. Earnings update due 2 August. Probably a wee bounce today, against the market. May become a traders' plaything for a while.
Sorry for delay:
https://www.investegate.co.uk/sabre-insurance-grp--sbre-/rns/half-year-2022-trading-update/202207140700074121S/
And now a pretty horrible update from SBRE today. We may have an ouchy today!!!
Citi downgrade from "buy" to "neutral". Said same about AV. I just got my household insurance renewal. It is up 22%, and I am unable to get a cheaper quote. I will hold.
Ariel Investments, an African-American focused investment company, has taken 5%. Their mission is to "use the market's short-term focus to uncover mispriced companies whose true value will be realized over time." Jolly good! (May account for recent rise in price).
We are now at a price below the level at which the share buybacks began.
"Because of the growing diversification of the Group the Board has begun an evaluation of the merits of a managed separation of its leveraged and non-leveraged divisions to unlock further shareholder value. This process is being led by the Chairman and the Board and they will update investors later in the year."
"The share buyback programme is progressing well and remains on track to be completed no later than 30 June 2023."
Thanks to MarkBellUK. Very useful figures. CMC giving figures "at top end of guidance". They seem miserable compared to lastyear's figures, so may see some selling today. Perhaps key figure is unleveraged users up 6%.