Member Info for Beza

IPF performance improving but bond refinance weighs

Doorstep lender International Personal Finance (IPF) is seeing performance improve as lockdown eases but Shore Capital says refinancing its debt will be a challenge.

Analyst Gary Greenwood retained his ‘hold’ recommendation on the stock after an unscheduled trading update that showed performance was improving and the group remained ‘strongly cash generative’.

‘We are encouraged by these trends and expect the share price to respond accordingly,’ he said. ‘However, aside from restoring operational normality, the key challenge for management remains the refinancing of the c.£400m of 5.75% eurobonds due April 2020.

‘We think the uncertainty around this is one of the main reasons why the shares continue to trade at just under 0.4 times historic tangible net asset value.’

fantastic news, especially regarding the tax monies. And hats off to IPF’s board for the way in which they have steered the company through cv19.

Boooom,
Stockopedia is forecasting a forward eps of 23.7 and a divi yield of 4.54%.

I think it’s results day for BATS tomorrow...

Hi JS
... Thanks. And since I’ve been contemplating adding the shares have risen 10% in a couple of days! But as I already have a few I’m not complaining. Keep going BXP!

Will do. Thanks JS

Morning all,
Some of you guys seem up to speed with the companies overseas news/ RNS. I don’t see any director purchases showing for BXP on the lse. Is this the same for Asia? Does anyone know if any of the top brass have bought stock recently? I’m currently a share holder and I’m considering adding. This looked pretty cheap to me when I first bought pre-cv19, so now, even more so. Thanks in advance.

If the forecast figures come true this is yielding 10% with a p/e of 5.4.

I think the senior members of the board have handled the results poorly here. Back in March (ish) they put out an rns saying that they were going to withhold the divi but they weren’t fairing too badly from COVID, giving the impression that they would reinstate it later in the year. Fast Forward 3 months and the same group of people tell the market that they no longer to pay a divi this year! An accident prone board and a cancelled divi - a shorter dream!

Is it results next month too as well as the new top man in charge starting?

... Great to read your opinion, thanks Neil

Neil, as you are a regular retail investor can I ask - what do you think of Ted Baker shares at the present time? I’m invested here but their new low share price (after the recent rights issue) has caught my eye...

C. Eng, when you say floating wind do you mean like the Hywind wind farm off Scotland?

Topped up also but got my timing wrong (£3.67). The fall is very disappointing but I see value here. About this time last year the Sunday Times ran a short article saying that Serco had approached Bab about a merger. The shares were trading at around £4.70 at the time. So if they saw value then...

Probably the results at NSF have knocked the sentiment in the sector.

Morning Ian, after the rights issue at 45p, what did make the share price at the time? Do you know? Regards.

Yes, the 24th.

I also added yesterday. I’m a little disappointed to see it down today, when the market is having a great day. The way I understand it, they made profits within target but the results showed a loss due to the writedowns. To think this touched 646 in Jan...

Do any of you guys know if the directors have made any purchases in recent times? I’ve had a look and the last ones that I could see were in November 2018 where three directors bought a total 115,00 shares @ 40p each. Is this the last time that they invested? Cheers

.... I’ll take a closer look, thanks Paul