The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
I bought a few Friday at 130, fat lot of good they have done me, I really should have taken note of Trek when he told us he was out.
Eccles
Of course insurance co's take punishment in bad years but the difference in this case was that pre Xmas they indicated that their divi was safe and on 11 Jan they indicated it would not be paid. The re-insurance market is there to iron out the highs and lows and the fact their results say they bought less re-insurance indicates to me that they were thus gambling with their shareholders funds, so when a bit of snow hits it upsets their gamble, that to me is inexcusable when an insurance co fails to manage its risk.
FD
Shocking to hear that about those pubs, old and poorly sited I can see the reasoning but not as you have laid out, there appears to be no reason other than to dance to the Carlsberg tune.
What a shame for those involved. A 1% or 2% movement up or down in GBP is neither here nor there, & like their energy costs were, should have been hedged.
Paul
I took my punishment on this dog on 11 Jan when they announced they were unlikely to pay the dividend which in November the BoD assured shareholders that it was safe. With a BoD as ineffective as this bunch I will stay away until there is some clarity that management have a grip and are not just playing around like this current board are.
Bad luck for all those who bought in after that announcement, some were even predicting a bid at between £3 & £5, can you believe it ?!
This latest RNS gives excuses to shareholders similar to "dog ate my homework", the BoD have proved themselves totally incompetent and very poor at understanding risk in insurance.
Malafuster
I agree with you, I've been a long term holder will now be an even longer term holder !
Buy when no one else dares is a good motto
Trek
Sadly for me you were right and I was wrong, but you can't win them all !
I agree it is less than ideal that they are reducing some of their platform usage for other people but I still think I'll be inactive and sit with them, at least we are being paid to wait.
As a customer I find their service is excellent, but maybe it is too good for what they charge?
And very nice they were too !
Oldbut
Well he/she is £1 late as they were easily obtainable 3 months ago like that.
At least Tempus is a tad better than Questor who is truly the kiss of death on an I.T.
Good to hear from you Trek, & that you are still keeping an interest going in what has not been the liveliest of stocks recently.
Still with 3p a quarter divis, without looking for future increases nor the occasional special we have an historic 7.5% yield at 160p and better revenues with interest being earned on their cash deposits we could be in for a pleasant surprise.
Announced this pm as 3p, same as equivalent divi last year.
Given the "trusted person" cloud overhanging the company, surely if the family/board were concerned they would cut the payout ?
I take this as a positive sign
Ailie
It certainly seems that all the storm flies who were buzzing round this stocl last week have lost interest ?
FWIW I think we could be surprised in Feb when hopefully the results show some positive traction.
dyor
Mary
Very true, good riddance to her, but one thing to be aware of, as there was obviously a lack of re-insurance debate on the board as we have had 2 consecutive RNS announcements we could be well & truly "kitchen sinked" when the new boss arrives, (snow in January quelle surprise!).
At least with gilt yields dropping since the accounts, their loss making investments must have moved up a little that alone should make a positive difference in our favour.
But honestly, what an incompetent shower this board has proved to be...
Shabz/Mary
I read it the same way but wondering why ;
1) if both sides are going to make money from it what is in it for the re-insurer ?
2) if this is true why did they not buy re-insurance earlier, surely the BoD know all about re-insurance ?
3) is it just a cosmetic ploy to make their ratio look better but is worthwhile paying for now the ratio took a hit at end 2022, which is actually what I suspect.
Additionally about a year ago I wrote to the CFO enquiring about how their "investments", ie premiums taken from which to pay claims later, were being marked to market as they were largely short dated gilts/treasuries of up to 2 years, given that QE was stopping and if rates go from zero to even 2% it will make a value difference, negatively, on a 1 to 2 year security.
I received a very wafflish reply back which made me reduce my holding at the time as the CFO was possibly trying to snow me or worse, was not really au fait with short gilts.
Likewise !
Just dribbled a few more in this morning
Discharger
Rather than rely on your own enthusiasm articulated at 02.00a.m. you would do better to read Shore Capital's comments as it is not at all bullish on the 40% stake in the brewery.
Rather than continually pump your own opinion it is often wiser to look at other peoples, even sceptically, especially those with knowledge and then hope to come to a considered viewpoint.
Particularly relevant as you last started this round of pumping when MARS were circa 80p !!!
Still a nice loss to carry forward in the current tax year as our CGT allowance reduces by halfish in April & halves again next year too, although most people would prefer to pay cgt after taking profits rather than defray losses to c/f !
BTW anyone looking at City AM now may not now see the Shore report, as they presently have an afternoon edition up, but it is still on the Citywire site and is really informative, imho.
FD
If super discharger did his homework better he could have reported that Shore Capital today have re-assessed MARS and are now more bullish, but nothing like S/discharge's usual pump, pump, pump.
It is worth a read and is one of the top stories on the City AM site today