Callun
02 Nov 2016
Re: Results I sold out of CBG in August when the SP started to bounce around the overbought territory. Previously it had fallen away in such circumstances, which would have allowed me to buy back in on the expectation of a surge towards ex divi date. Alas, I could only sit on the sidelines and watch the SP continue it's rise. Another pound!! and no divi for me.However, I had always intended to dodge the divi, and I am now in the situation that buying back at today's price would effectively leave the value of the divi, and a capital gain, in my pocket. So, all's well that ends well ? Not really. The SP has done nothing but slide since that 1477 peak, and excepting the summer bubble has been sliding since March 2015.With the potential market upset from the US presidential election, and Brexit, I fear the SP could go much lower. I am sitting on my hands for now.Good luck to those still holding.Callun
foolish learner
27 Sep 2016
Re: Results Well i thought the results were close to expectations, but Deutshe Bank worries are more the trigger to the fallMissed out yeserday at close to 1400 price and thought my luck was in on a buy at 1398 this morning. With a 38p dividend pending will be interesting who takes the divi or the capital gain as this moves back towards 1450+
In the dark yet again
27 Sep 2016
Results Just had a quick read and it all looks...... OK. Nothing spectacular but nice and solid, maybe growth towards the bottom end of expectations based on previous years performances but growth is growth and, for once when a CEO says:"We are pleased to report a good performance for the 2016 financial year, with further growth in our earnings and dividend against a backdrop of more challenging market conditions"I think he's probably spot on the money rather than making excuses.It is very much the loan book that's driving this - yes, both the asset management business and Winterflood contribute but the real juice is still the loan book. Volumes up but loan margins down might worry some but I'm OK with it as the margins achieved in the past couple of years were nothing short of remarkable so were always going to be extremely difficult to maintain let alone increase. Not sure how much more leeway I'll be allowing them on the margins before it starts to be a bit of a worry but, given the overall level of interest rates, I'm still OK here.Looks like the market was expecting a little more but solid, reliable as ever. Long may it continue.Regards,ITDYA
whilstev
20 May 2016
Re: Trading update Agree with both comments, it looks like a relief rally after recent fall. I think a bottom for the share price has been reached and the statement suggests full year results will be at least in line with broker estimates.I think probably they will exceed by approx. 5% so I will look to make a top up after the referendum if the price is in the £12 region.
In the dark yet again
20 May 2016
Trading update That's quite a move up on the back of a solid but unspectacular Q3 trading update. OK, good news that it's solid and small progress on all fronts but enough to cause a 5% move?Because there's no bad news and it had been hit hard in recent months so relief?Or is there something else going on I've missed? Any thoughts?Regards,ITDYA, still a huge fan.
Callun
20 May 2016
Trading update Positive statement. Nice to see a change in the use of language. Phrases "weak market conditions, challenging market conditions, challenging and often unpredictable environment" used in the previous results are absent, replaced by "improved performance, better market, robust demand". The only caution is that Winterflood remains sensitive to an unpredictable market. Steady price improvement going into this statement, reaffirmed today, but starting from somewhere near a 3 year low there is still some way to go to top last year's high above £17.With a decent and growing divi considering a top up to my long term holding.Callun
Warren Buffoon
08 Mar 2016
Re: Solid results Not sure what "the market" knows. In my 33 years of investing, the market often knows nothing.I've had these since 2007 and they've given me a compounded 9.4% per annum.I won't be selling any time now. . . .
whilstev
08 Mar 2016
Re: Solid results Yes I think now its just the realisation that the rate of growth is going to be much slower (5%) compared to the previous few years (15%). I rate Close a solid hold now with not much chance of large share price increase over the next couple of years. Have to settle for collecting the solid 4.25% dividend.
Callun
08 Mar 2016
Solid results ......yet the initial response is that the sp crashes through the floor.Perhaps it's the littering of those fear phrases "weak market conditions, challenging market conditions, challenging and often unpredictable environment" etc.Callun
In the dark yet again
22 Sep 2015
Results If only everything in life was as reliable....I have to love it; with the whole of the rest of the world seeming to be bouncing all over the place CBG just keeps banging away. I refer you to my comments of March - not much seems to have changed, just more of the same.Winterflood obviously did better 2nd half but then again these numbers are only up to 31st July so I suspect the Aug/Sep numbers probably won't be too pretty.The fund management business 'plodding' along: funds under management up 11% vs a FTSE100 that ended pretty much where it started (01/08/14 to 31/07/15). Haven't had a chance yet to reverse the £4.4m one-off back out of the £17.8m to see how the underlying margins have held up but will do so later.The loan book, well that's the key to this story and it's growing well with very solid margins; 8.5% growth with a 8.8% lending margin, 3.6% bottom line (£209m/£5700m) with only 0.8% bad debt is phenomenal, truly stunning.....but therein lies the potential issue for me - given it's the vast majority of the total profits, how long can you stay so outstanding, head and shoulders above? Maybe there's something they can do about the expenses and convert more of that gross margin to bottom line profit but 8.8% margin? How? I can borrow money much cheaper than that so how can can you squeeze out 8.8% margin when they themselves have to pay interest on their funding? I don't know but with only 0.8% bad debt it's clearly not a Wonga route.But that is being picky, me looking for potential issues where nothing is actually going wrong. Given they got through the whole banking debacle maintaining, even growing their business, keeping the dividend without compromising their capital ratios... well maybe I should just shut up and be happy.And credit rating up to Aa3 makes me think the rest of the world is beginning to wake up to this little gem.Tempted to have some more here on the back of this - definitely would if I didn't have so many alreadyRegard,ITDYA
Richygm
04 Sep 2015
Re: Enticing income payer however with d... I'm puzzled by some of the SimplyWallStreet conclusions. My guess is that, rather than have an analyst look at the figures, they feed them into a computer program. That's why they come to some odd conclusions. That's my view, anyway.
Warren Buffoon
04 Sep 2015
Re: Enticing income payer however with d... I've had these shares since 2007 and I like the (relative) consistency of the company.They are still on my "buy" list and the consistent dividends are important to me.Touble is, whatever goes on in a lot of 'merchant banks' is still a mystery to me even after trying to fathom it out for 30 years. I just haave to go on the history of the particular operation. (was only in one bank at the crash.... HSBC).WBHaving bought in 2007, this share has provided me with a compound 11% per annum. Can't complain.
Richygm
03 Sep 2015
Re: Enticing income payer however with dubio... Was looking to come aboard, but that "Wall St" allegation is a little unsettling. What are other people's views about this co right now?
albent
06 Apr 2015
Enticing income payer however with dubious financial health. Anyone interested can see an infographic on CBG [link]
In the dark yet again
11 Mar 2015
Results My opinion: not spectacular like the last set of finals but still none too shabby. Winterflood not so great but then they did tell us it wouldn't be... but still 19% up overall.That's the problem with Close - after a while you get to expect outstanding and sometimes you only get great.And another 9% in the dividend pot. If only all my other shares could do this like clockwork.Regards,ITDYA
