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Yuri.F As you can see from the RNS, the drop in 1st HY profits is entirely due to poor investment returns over the last 6 months.
Premium rate increases were 17% and the combined ratio improved to 87% which is excellent and shows great underwriting discipline.
Improved investment returns in the 2nd half of the year and in the 1st half of 2023 mean that this time next year profits and the SP will be significantly higher.
180p-200p is fair value IMO. Company is forecasting profits of c£800m for the full year yet the market cap is only £7bn. Seems massively out of proportion.
I actually bought in higher than this earlier this year as per previous posts on this page so not me trying to ramp.
Excellent trading update. This is still undervalued despite the recent rise.
Nice rise again today. The issues of the last 18 months are getting resolved slowly but surely.
Is JD also benefiting today from Sports Direct's results? Revenue up 32% there. Appreciate they are not identical companies but there is considerable overlap with sales of trainers and athletileisure.
All valid points. We potentially could be at or near the peak of inflation; the price of oil is down 20% from its recent peak, iron ore is down 50%, wheat and copper are down by around 40%. The NI reductions will also feed in to pay packets from this month. True, the energy rises in October will hurt a lot of people but the new Tory leader will have to address this is in one form another.
It's hard to take a contrarian view when a share is down 80% in a year, but whilst down side risk is still there, there are some signs we may avoid (a technical) recession and keep inflation under wraps. If we can do that and the shorts reduce then the next 12 months could be interesting.
The word mortgage comes from the French word 'mort' meaning death I.e. payments till you die or a lifetime mortgage.
The prospect of borrowing money for 30, 40, 50 or more years is completely soul-destroying. I do feel sorry for young people trying to get on the housing ladder.
This was briefly flagged as an issue by Proactive Investor yesterday:
"In fact a glitch in the system meant many announcements from the regulatory news service of the London Stock Exchange Group PLC (LSE:LSEG) were delayed, hence the confusion."
Agreed. A company that makes £1billion profit a year has to be worth more than £5.5billion.
The HL website says the same. An 11% increase in the divi in the current circumstances is very good.
Pleased to see the update, even if it didn't say much. It's put my mind at rest.
Wish I'd topped up at 205p on Friday now but can't win em all.
An RNS has been released today which includes an updated NAV.
V. Good trading update in my view.
Good couple of days, that's for sure. Barclays sound bullish... potential 50% upside from here...
"Reckitt Benckiser moved to the top of the risers after a bullish update from Barclays.
Over the counter sales this quarter should be strong it said, driven by a strong flu season and easy comparison to a year ago.
Nielsen market data suggests high double-digit, or even triple-digit, growth in cold and flu treatment Mucinex.
Added to consumers switching away from rival Abbott, this could potentially add 4% to group organic sales and 6% to EPS this year.
Nielsen data suggests strong growth for the quarter, but this may include an element of retailer destocking and consumer pantry-loading.
Reckitt’s product mix and operational gearing meanwhile should also help offset headwinds from rising oil prices, even with low visibility.
The share price target is 9,100p against 6,032p, up 3.4% today."
It's important for all property owning shares, especially REITs. A lot of share trading websites will include the NAV in a chart alongside other financial information so you can see if the share price is trading at a discount or a premium to the NAV. See Tritax Big Box (BBOX) or Ediston Property Investment (EPIC) as examples.
As SGRO is trading at a premium to the NAV, you could argue it is overvalued, however investors obviously think there will be an upgrade to the NAV when it is next reviewed and we know SGRO are developing a number of properties to increase its portfolio which will be completed in the near future. The shortage of these large warehouses / big boxes in strategically important locations near motorways and large populations that are favoured by the likes of Amazon, THG, ASOS, Aldi etc mean they are definitely going up in value.
Next area of concern: Aviation Hull.
https://www.telegraph.co.uk/business/2022/03/05/airlines-dogfight-pull-jets-war-zone/
https://www.beazley.com/london_market/marine/aviation/airlines.html
I think an RNS is required to clarify BEZ's exposures.
Rising grain, rising, oil, rising gas, rising metal. Rising inflation is the big worry here and the impact it will have people's disposable income and their ability to afford a short break at a Premier Inn.