Member Info for jollyspeculator

we missed u lol

v sound approach, young fry

holding on

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if you work on assumption that Jens makes good here ...EV/rev of anywhere 2-4 perhaps (DYOR on comparators).. on US$10-15m of rev plus remaining cash of cUS$10m after say US$5m of net investment spend over next 12-18 months ...all amateur/back of envelope stuff...but get's the juices up & running lol

even before news on receivables...and expect to buy more into strength above 20p and/or positive rns ...fingers crossed...the upside here is truly awesome imv ..aaoo/dyor

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The Group continues to focus on its strategy of building an outstanding major insurance distribution business. The Board firmly believes the capacity constraints represent short term challenges for the Group and at this stage 2014 performance is not expected to be negatively impacted by constraints in underwriting capacity as the Group expects to announce new sources of underwriting capacity over the remainder of 2013. To deliver our strategy of building an outstanding major insurance distribution business the Board has set a number of key strategic aims for the Group: · To operate with a panel of insurers across all Group businesses and to ensure no reliance on any single insurer. · To expand our underwriting footprint in the online sector with a view to attracting new Affinity partners across both the on line and off line sectors. · To continue to explore areas of the insurance broking market where historically we have not traded or currently have a sub-scale offering. This will include areas such as large commercial and on line commercial. · To maximize conversion rates and premium finance opportunities. · To continue to develop the non-core areas of our business including Quote Exchange and IQED. In the aftermath of the recent protracted offer period and having set strong foundations the Board considers the prospects for the second half of the year as exciting yet challenging for the Group. However these foundations should deliver further dividends in 2014 and beyond.

Brightside is a distributor of insurance products and ancillary services and, currently, does not carry underwriting risk. The Brightside strategy is to partner with underwriters, providing those underwriters with a reliable source of quality business. This provides an exceptional route to market for underwriters which supports their loss ratios and therefore reinforces Brightside as a broker of choice when allocating their insurance capital. The UK motor insurance market, Brightside's largest segment, has seen a significant softening over the past year reporting a 9.8% drop in premiums between July 2012 and July 2013. During periods of softening, brokers' incomes can suffer as commission values generally fall in line with decreasing premiums. Offsetting this, customers tend to renew with their existing insurance provider, rather than shopping around, as falling premiums enable their existing provider to offer the customer a saving on the premium they paid previously. This often reduces the customers desire to shop around and compare prices from other providers.

"The Board firmly believes these capacity constraints represent short term challenges for the Group, and at this stage, 2014 performance is not expected to be negatively impacted by constraints in underwriting capacity"

"Following the termination of the approach from Markerstudy talks with other capacity providers have once more resumed and we expect to announce additional capacity over the remainder of 2013. "

Financial Highlights · Revenue increased by 4% to £45.3m (H1 2012: £43.6m) · Post-tax profit remained in line with last half year at £5.5m (H1 2012: £5.6m) · Basic earnings per share decreased by 3% to 1.20p (H1 2012: 1.24p) · Strengthened balance sheet with total net assets increased by 5% to £84.4m (Dec 2012: £80.1m) · £10.5m operating cash flows (H1 2012: £10.7m) Commenting on the results, Martyn Holman, Chief Executive of Brightside, said: "Brightside's long-term aim is to build an outstanding major insurance distribution business. The introduction and growth of the Affinity businesses is another step towards this goal and it is encouraging to see strong performance despite tough trading conditions in H1 2013. In the aftermath of the recent protracted offer period, and having set strong foundations, the Board is realistic about the second half of the financial year 2013 but is optimistic about 2014 and beyond".

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looks possible (again)

still Jolly good value imv..opinion only & v amateur at that ...2nd/3rd largest holding now

bit of a bet on INR/£ rate short term perhaps (look at graphs lol) and on India which is going thro a proverbial soft patch.. ....but a lot of risk factored in...so topped up @ 87p ...aaoo/dyor

...decent bet on retrace last week, eh!

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Jolly good value imv