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But no mention of margins. Winning business is fine, but margins maketh the man!

Operating loss = £2m

EPS = minus 0.7p

Revenue down 18%

Admin costs up 3%

No divi

BUT don't worry, we have a new Non-Exec!!!

Unfortunately this is being run as a new FCAP. Dropped my target price from 20p to 10p.

Bank of Ireland recently bought out Bristol and West prefs at about a 12% premium. A decent outcome, but not ideal.

...weak update does not auger well; in particular "IPO and private fundraising continues to be muted" . If we stick to the FCAP calendar interims are due this month.

Long term holder here. I largely agree with 404x. The next results will give some indication, but it promises to be a long road from here. I would add that if it is run as a Cenkos, all well and good. If it is run as a Finn Cap, woe betide us all!

We are unloved! On a PER of 18 this is not exactly cheap, so I can understand the reticence of others. However I am happy to hold, and would add again in the 150s.

Revenue up 15% over last ten months. Remains in line. Excellent recovery continues.

Interesting interview on Bloomberg Radio last night. Analyst says US insurers would love to take over UK companies, but do not have the funds available.

Update due this Tuesday?

Direct quote from Martin Lewis:

"In September, I warned here that we were seeing horrific rises in car insurance. New data out then showed average renewal prices 41% higher, and we cautioned you to act urgently as worse was predicted. Now... it seems 'worse' is here, seemingly even more quickly than expected. So I make no bones about repeating the warning, but this time EVEN LOUDER!

The new stats are from different sources from last month, analysts at Consumer Intelligence, who assess 17m quotes a year. The stats show premiums are up a whopping 61% on last year, while comparison site Confused says the average price is now a massive £924 a year.

And indeed both are reflected by the wrath people report their renewals to me with on social media. And sadly, Consumer Intelligence says things are likely (no guarantee though) to keep getting worse until the middle of 2024.

I make the PER c8, not 10 as this says. The only reason to hold this is the dividend. It is unlikely to be taken over, or seek large acquisitions. It will not launch any great innovations, or develop new technologies. The insurance field is slow and plodding, but generally reliable (ignoring DLG!!!). While interest rates remain high, this will flounder, but if you buy now it will pay you c9% pa while you wait for the current to change. That seems very reasonable to me.

No offence, but I hope you don't have flood insurance with them! ;)

The 2018 debacle ended up with the CEO departing and compensation being paid. I cannot, see that happening again.

Perhaps some see good opportunities elsewhere, and need the cash? There is the old saying of leaving something in for the next guy!

...yield here is now 7.2%, guaranteed, forever. Inflation will fall (eventually) and this will remain a nice wee earner.

...this Thursday.

Wrong again!!

But now profitable, and gap plugged by sale. My be steady.

They allowed £15m in the accounts, and it will coast twice that. This does not bode well. The new CEO will kitchen sink things, so further price falls should be expected here.

Very stinky! "Subdued market conditions have continued through August with trading and investing net revenues trending 20% lower year-on-year. August in particular has seen a more challenging environment with markedly lower monetisation of client trading activity..."