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The last update missed estimates, and we are seeing stale bulls exit.

Not good. They are moving to being a vape asupplier.

Https://globalnation.inquirer.net/258028/mexico-congress-adopts-ban-on-e-cigarettes#:~:text=Mexico%20Congress%20adopts%20ban%20on%20e%2Dcigarettes&text=The%20Senate%20overwhelmingly%20backed%20a,the%20lower%20house%20of%20parliament.&text=The%20constitutional%20reform%20must%20now,32%20states%20before%20taking%20effect.

First of many????

Https://uk.investing.com/news/stock-market-news/uk-equities-cheap-for-a-reason--ubs-3826654

If DLG jumps(it will) it may be worth taking a profit on half your holding. I cannot see this going through.

I totally agree, but is this really likely to go through? The combined entity would hold almost a fifth of the UK motor insurance business. The CMA would be unlikely to let this happen.

No involvement in the brown stuff, but they can still create their own environmental issues: https://www.bbc.co.uk/news/uk-england-beds-bucks-herts-62418323

EyesOfBlue has hit the nail on the head, I think. Gilt yields etc are undermining the price here, and for me the holding in water infrastructure is a little unnerving, but we have experienced management, a conservative approach, and to some extent a focus on shareholder interests. I am a recent returner here, and will continue to hold in my income portfolio. To me the markets look increasingly uncertain, so caution needs to be deployed but a wee holding here seems prudent.

FWIW I have 265!

These results are actually only "in line" and given any seasonality they may well miss full year estimates. Add the lack of any details regarding the Revolut and other deals, and we could well see a drift over the next few weeks.

The last two disposals have been at well above book value, so the NAV may be too low. Staying here, or averaging down, you could see the yield effectively reimburse you.

...has cut target to160 from 165, but maintains "outperform".

Hi Will. They are claiming £459m of "liquidity" with £65m in cash, but this is balanced by net debt of £85m.

I think this is just poor journalism. The article cites AJB and HL. as rivals, so offers the links.

Interims:

NAV = 156.5 (-1.1%).

Underlying return = 5.5% (from 8.2%).

8.35p divi target for next year (6.7%).

Div cover = 1.07

£32.4m of buyback still to go.

Move along please, nothing to see here!

Well spotted Treven! I believe that's the one!

But some others reducing!!!!

PER = 11

PEG = 0.5

Div = 6.6%

NAV = c156p

Share buyback programme ongoing.

OK home for a small stash in these uncertain times?

Revenue has more than doubled, BUT profit is almost totally eaten by administration costs and management rewards! We shareholders are salved with a nice dividend, covered from the cash pile. There is a long way still to go here, but hopefully this marks a beginning.

Delighted to be wrong.........