Member Info for Cardinal3

I am holding fire on the reinvestment of the divi only because LGEN is a sizeable holding in my portfolio at just under 10% of assets but rather more in terms of divi income. Ditto Lloyds. I do think LGEN has a way to go yet but much will depend on the new CEO having a good reputation and a safe pair of hands.

Verney

I reckon Peel Hunt have got it about right. The cost control measures are making a difference and there is clarity on write- offs for the current year. The mad dash for growth through M+A seems over for the time being while the AI arm of the business looks an exciting prospect. The numbers should be achievable with profits in 2024 as write-offs diminish. Jam tomorrow but I am optimistic.

Generally more cautious than historically when companies were being taken into the firm thick and fast, not always successfully. It's good they have a handle on the numbers and are better managed. Given 'skittish' markets the importance placed on cost controls is welcome as overall revenue gains might be more difficult in 2023. Market estimates have been beaten and along with a conservative view of the top line growth prospects the share price might be underpinned as they are there to be beaten.

It would be a help for confidence if Sorrell gives interviews on the likes of CNBC on results day. That’s what’s happened in the past and would draw a line under the health issue.
As for S4 I am confident medium term though it’s a long road back for the share price after the debacle of the accountancy failures. Good like-for- like performance to beat market expectations would be a helpful start.

Sorry, Nige, thats far from the point. If the company releases an RNS to tell the world that the CEO is undergoing treatment then it should be the same method to say what's changed.

The gripe I have with Sorrell was that he felt the need to issue an RNS to tell shareholders he had a health issue but didn't update shareholders when he was back in the saddle. Dropping a random emailer a message to say he OK is not the same at all.

It's all very well Sorrell expressing his ambitions for whoppers but the downside is that failure to achieve publicly stated goals will disappoint and the share price could tumble. It's always better to beat market expectations. I do however detect a more cautious approach since the accountancy failure so provided the results meet targets and the outlook is positive we can hope for a positive reaction in the price. It's a big 'if' though.

Verney
Exactly. The RNS doesn't say the results will be announced at 5.30pm, only that there will be webcast at that time.

Nobody has offered an opinion that I’ve seen. I would think writing it off would be a good idea then any offer will feel better.
This is a can of financial and legal worms and huge losses in revenues and asset values loom.

Thanks all. Most helpful as I hoped.
As it’s not on my account - it’s a bare trust held by son for his non tax paying son so the admin is difficult as I am not in control. I just advise on buying and selling. I’ve coughed up CGT on my own account in the past so suitably clued up in broad terms.
Anyway I’ve managed to avoid the issue by using a calculator to tot up correctly. I was beginning to focus on Essentra which is paying a large special div. and actually I might jump in there if I can find any change from my pension…
Lloyd is my biggest holding by far and I need to spread the risk and haven’t yet decided to re-invest the divi as a result.

Thanks LTI

I’ve not seen this before but my focus has been to invest rather than spend but could be useful for family.

As we don't seem on topic a lot here I was hoping someone might help me on CGT. Son sold a share and used the wrong orriginal cost which means I am just over the CGT limit (by £70) - it's minor grandson's money not his. I miscalculated the original cost and wonder if I am right in thinking my best bet is to create a capital loss to get his dad to buy something a day before an ex date and sell the day after. All other things being equal the price should fall by the dividend amount. I say this as he hasn't had to fill in self assessments yet as he is too young and the form- filling for such a small sum it more trouble than it's worth. Any flaws in this idea or any better ones? I was thinking Natwest as their ex date is looming and is a significant sum- 10p a share. Help very much appreciated.

Something's afoot with the price movement this afternoon. I just wonder with Nigel Wilson preparing for sunny retirement whether another institution might see an opportunity.

I wondered if we can get on topic. I don't care who voted but the fact is we did. As fleccy says 'The Brexit vote was a vote for change'. Anti- govt vote plague on all your houses principles basically with no obvious consequence. Hence votes for the likes of UKIP in the old Euro elections. We need to move on and make the best of what we have and I say this as a long-standing elected bod locally who voted to remain. Are we all defined by that? Hope not.
Meanwhile did anyone notice there was a bit of press yesterday about Scottish Widows which has lumbered itself with a loan to Home REIT for £180m. Investigations are taking place but the chances of the assets going anywhere near covering the loan are remote. You do have to query the risk management process undertaken here. I expect LLOys will tighten that up now the horse has bolted.

I vaguely recall Sorrell saying he would like to get a US - maybe NASDAQ- listing at some point. I am reminded of this as CRH has announced they are moving from the LSE over to the US for listing. No doubt a knowledgable person here will be able to say how much of S4's business is US but thats part of the decision I would think. Just need to start getting the profits moving and there will be choices and decent valuation.

LTI

Flexible rules? Not that I’m aware of. You can put in up to £20k a year into an ISA. You can take it out but you can’t take out, say, £10k of the £20k you’ve invested and put it back in the same tax year because you’ve already paid in the £20k. You will have to wait till the next tax year when you get another £20k allowance.

Uninspiring numbers. The traditional fund manager business has been losing to trackers and more nimble firms for a while, and they are trying to tag on more niche areas such as ESG- driven business which isn't performing either. All in all I can't see the downward slope of the share price arresting any time soon.

Muchaboutmoney

Totally agree about the logic of over-provision this year leaving capacity for the future. Trouble with this, though, is that banks will likely be targeted by the next lot in govt who hate banks, as surely must happen, so the benefit next year might be lost.

jcb
How can it be a stealth tax if we pay our gas bills to the gas company and the govt gives us a rebate? Maybe they can charge the gas company more tax?

I've received a letter from BRSA who probably had ii forward to my address, inviting me to the AGM.
I've never seen this sort of invitation before and can only say how impressed I am that they are taking the trouble to engage with shareholders in this way. There are options to be updated too. For such a huge organisation it says a lot about Bkackrock that they are taking the trouble to involve small shareholders. Sadly I live outseide London and won't be going but I will sign up to their updates.