paddington_bear
04 Sep 2015
Right + wrong! Looking back to my comments last August when I bought in, I was right about the holding action of DMA + IVA until legal services came on stream, fortunately wrong on how dramatic an effect those (subsequently greatly increased) legal aspects would be, The equivalent full year contributions from these now form over 60% of total income.Profits are starting to flow through, but the downside of course is the rise in debt, mainly related to acquisition costs. There has been a significant and welcome rise in SP, but comforting dividend still around 3.8%. As with any new venture, which in effect is what has happened here, there may be teething problems, but so far so good and all achieved without a rise in BoE interest rates. Pretty full valuation for now. GLAPB.
II Editor
03 Sep 2015
NEW ARTICLE: Fairpoint extends amazing rally "The acquisitions of Simpson Millar and Coleman have primed LSE:FRP:Fairpoint for its transition from legacy debt management into a legal services business. And, after a good first six months and a strong second half on the cards, the company now ..."[link]
equity_dev
26 Aug 2015
Webinar with management Hi, If you want to listen to Chris Moat, CEO, and John Gittins, Finance Director discuss Fairpoint’s half year results and ask them questions please register for the Webinar which is being held on Friday 4th September at 10.15. The presentation will last approximately 20 mins and there will be an opportunity for Q&A at the end. To register please go to: [link] Equity Development Team
ozzyg
04 Aug 2015
Re: Just bought in Happy to see such a big daily rise in the SP. I've been a very long suffering holder.
spaceinvader2
03 Aug 2015
Just bought in Think this is on the move 😎
trader M
20 Jul 2015
Re: Topped up I will join you with an additional small wodge, have held a few years which have been a disaster, but this may well be due for a better rating given recent performanc
methilman
25 May 2015
Topped up I have held a small wodge of FRP for a number of years and have at last succumbed to Simon Thompson's (of IC fame) repeated plugs and upped my stake.As has previously been mentioned, the dividend is an attraction and recent diversification should continue to enhance earnings, pay the new/increased interest charges and keep the dividend ticking over.At least that's my possibly simplistic take on things.............Mm.
janebolacha
21 May 2015
Comment from "Equity Development" "Financial News13th May 20152www.equitydevelopment.co.ukFairpointFairpoint’s AGM statement reports a “material” increase in revenue despite a far-steeper-than-expected fall in the number of new IVA cases in England & Wales Q1 to 9,723 –a 24% fall from Q1 2014 and the lowest quarterly total since 2008. The growth is primarily due to the new Legal Services division, centred on Simpson Millar LLP and the group is looking to make some add-on acquisitions to further expand this division. Reassuringly Fairpoint states that trading is “in line with the Board’s expectation”.As we pointed out in our 17 March post results note on the company, Fairpoint’s prospective P/E of 6.9X, and prospective yield, of 5.4%, both look extremely conservative.The announcement that Gateley, a Birmingham law firm a bit less than three times as big as Simpson Millar, is planning to float on AIM was accompanied by press speculation that it would be valued at £140m from which one might infer that Simpson Millar is worth more than Fairpoint group’s market capitalisation"[link]
Alligator77
01 May 2015
Good news. "This reflects a strong contribution from the Group's new consumer legal services business, which was not part of Fairpoint in the first quarter last year."Well thats jolly good - as the company transforms the price will move up.
pharmaspecialist
17 Mar 2015
Re: Results tomorrow It looks as though your forecast of 15p adjusted earnings per share was comfortably exceeded and I think the market has reacted as you might expect. Whilst there are alot of asterisks in the results figures, it appears that the company is still doing OK on a cash basis. I am also heartened to see that the company is putting its money where its mouth is and continuing to increase the dividend, despite the already generous yield. Integrating acquisitions still offers the opportunity for suprises (in both directions) but my impression is that Chris Moat has the necessary skills to deal with the major challenges that these must create. For what it's worth I recently used the services of one of Simpson Millar's legal businesses services in the field of education/social care and I was impressed by the quality of service. We achieved a positive result, and despite the cost of £200 +VAT per hour it was worth using their services.
pmrleahy
16 Mar 2015
Results tomorrow I'm looking forward to results tomorrow. I am expecting (based on public and broker info) adjusted EPS of around 15p a share which would put the current share price well below a P/E of 10 on a decent yield. Also encouraging for the business to see travel claims at Simpson Millar have grown by 250% during 2014:[link] If results are good tomorrow my target price is 165p in short term.
pmrleahy
20 Jan 2015
"Double digit growth" Good RNS out this morning showing that the company is going to benefit a lot from Simpson Millar LLP. The RNS also talked about "double digit growth in both revenues and profitability" (I am assuming this means double digits in the millions not pounds!). This implies profits will be up from 2013 when the EPS was 15p. So we can expect an EPS higher than this meaning the company is on a P/E of well below 10 and on a decent yield. Net debt isn't great but that should reduce as profits improve. It's also encouraging that Simpson Millar is accounting for over 40% of revenues. I am not sure why they have said the results are 'in line with market expectations' when the share price suggests results should be above market expectations if the RNS is anything to go by.
