Member Info for Leapgrog

SNR has said it intends to resume dividend payments this year.
Thing to understand is that the share price is fairly stable, the market taking its usual lookahead of 6 months to a year.
The value lies the other side, so I bought at a very depressed price and subsequent purchases have brought me to an average price that is about where the market is today, as it happens.
So I dont see how I can go wrong, the divi keeps me happy, I expect to double my money over the next 2 to 5 years ... and hopefully we'll all be here at that time (reference to war).
My patient strategy is in fact in line with the company's recent statement on 20 April 22 that "the Board anticipates good progress in 2022 as the company continues the multi-year recovery".

I am hanging on, not selling. This company has resisted the war-blown onslaught, proving its worth as a defensive stock, and I like to imagine the bounce back. I'm happy to stay because of the long history of consistently gathering customers and winning awards, and this continues according to the latest reports.

I guess you understand their stange financing? TEP has a very unique approach that no one has so far seriously tried to replicate (which may or may not be a good sign). Its earnings are heavily impacted by a non-cash amortisation charge of ~£14m per year. This is the depreciation of a ~£300m licence with Npower to supply to TP's customers at attractive rates.

So in cash terms the dividend is covered, although even then the company still has a high payout ratio as it doesn't need to retain a lot of capital to grow.

At some point the licence will need renewing (it's a 20 yr licence that will run out ~2034), but this will probably be paid with debt and new equity, same as for the last one.

I estimate that TP can sustainably grow the dividend by around 4-5% and over time, and if earnings grow faster than I've figured, then cash flows will continue to cover the dividend.

Hope this helps.

pls stick to analysis of the data, the ad hominem is very waring and we're already worn!

Peter Zeihan is a pretty amazing guy, here he is on "Food, Fuel and Russian Gold" on Youtube. Be intereted in how you digest this.

Very suspicious, I have to say

Yes, perhaps ITV is dommed against the big players - though I wouldnt agree at all. But how can the SP lose a third of its value on the very day it announces seemingly excellent results. No good saying it'll bounce back - why did it tank in the first place? These are not random events. The analysts following the company did not foresee this.
There are no idiots here, yet noone has been able to explain this. Instead, we all call for the board to go or put the company up for sale to the highest bidder.
But what if the owner with 20% has mounted another coup? It is the only explanation offered today. CAn the other major shareholders put up for a thorough investigation?

There aren't any idiots here. It looks initially like share manipulation by the 20% owner.

I have read the comments here and mostly the explanation is that the CEO doesn't understand. Yes, brilliant results. But no, the planned investment will not pay off as intended.
This can't be correct as according to the analysts (trustworthy steeds of course), it is on a PEG of 0.6 and ROE of 30% in three years and ROCE over 20%. There is also the promise of an 8% dividend...promises, promises.
Whatever the explanation (which I'll come to...), Dame Carolyn gets a salary of over a million and this is a waste of money as in this time of crisis instead of being on the bridge wirh megaphone, she's been in the hold, shivering.
There is more to this story than meets the eye, it has more to run today. I wonder if ITV is in some way connected to Russian sanctions? Or Russia is hacking to change western perceptions? No evidence of this. Dame CArolyn's wokeness probably makes people of influence rather fed up.
Conclusion: need a new CEO to clarify strategy and reassure that the past's seven-year long history of declining SP is well and truly over; alternatively invite bids. Otherwise, sell before SP drops further to 60p.

Nothing has changed in the real world, the economy, not this company's results. The market is going south it si true, but where is the connection between S&U and the Russian conflict ?
I notice ADM, DLG, SUS not doing so well but cannot figure how motor finance links to the war ...
At 2,550 SUS is an absolute bargain.

This has surely got to be share price manipulation and should be referred to the FCS for investigation. The SP is completely at variance with the results.

https://www.libertyglobal.com/pdf/press-release/7-31-Liberty-Global-ITV-FINAL.pdf

so follow her out the door?
Three million shares sold in first 10 minutes

Please comment further as I cannot find any 20% private ownership. Same happened with TATE and that was good for my portfolio.

Excellent results but worries about level of investment needed to keep ahead and the powerful competition.

"Richard Hunter, head of markets at Interactive Investor, said ITV's results were good but that investors were wary about its spending plans and the threat of streaming giants such as Netflix and Amazon.

"Leading up to these results, the market had reacted with some cynicism to ITV’s lofty ambitions and the share price reaction today reflects a mauling by the bears, with a concentration on the investment spend needed and the strength of the competition rather than improving prospects," Hunter said."

https://www.sharecast.com/news/news-and-announcements/itv-profit-surges-but-shares-drop-on-spending-concerns--9328250.html

5.25% yield to market and surely the SP will recover? These figures without the bear panic and you'd be looking at 200-250 GBp, surely ... no?

The company might make it through, but will the currency?

Sold at 298 (I just added 15% to my buy price and thought Ill leave the rest on the table, whatever). I was very very lucky and don't think I'll do that again. I calculated lowest and highest prices, according to me at any rate, and stuck them in the platform software. So bought yesterday on the 2nd March and sold today on the 3rd. But it was a fluke ... gambling ?

Good points - after a war the losing side loses is currency though. Things never go as planned and it'll be worse than we could imagine, but the winner will be he side that can endure the most pain.
The kind of hings we could see in Russia,might be that it closes its markets, sets up asset price conrols, changes ownerships, imposes exchange controls, and it may change tax rates, limi stock market issuances and impose higher corporate tax rates.
So let's hope for a swift and sensible resolution, not to much ego please, just weigh up the costs and benefits.

I take that back - Fineco has 273 up 4%

Fineco is not quoting a buy price

I bought at 259. It is a punt. The risk is that the rouble, which is a fiat currency like all the others, ie no backing for hard times, disappears off the currency map....but what would replace it? The Russian economy is ok and it has considerable reserves.