Fairpoint Group FRP.L
Fairpoint Group is trading above the moving 50 day average and below the moving 200 day average on above-average volume.
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Overall AIM Rating
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Why the fall this morning? by pmrleahy
Thu, 11 Sep 2014 07:25:00 GMT
This share is on my watch list; I am not a shareholder at present. However, based on my quick skim, I thought the interims looked alright this morning. I wasn't expecting profitability to be so good and there was only a minor drop in revenue.
So why the SP fall? Was the market expecting better results? Net debt isn't great but is there anything I am missing? By pmrleahy
Re: Fair entry point? by Richygm
Fri, 29 Aug 2014 13:24:00 GMT
I've just read ST's article and put these on my watch list. I see they were over £5 in 2006/7? By Richygm
Fair entry point? by paddington_bear
Sat, 23 Aug 2014 12:57:00 GMT
In some respects this is a version for people of Begbies Traynor. Here however it seems a bridging exercise is underway, doubling the DM plans to 30,000 in a year as the IVA risks run down. Adding legal services (guaranteed to slow cash flows) is a further diversification and the trick will be whether this combination will work until interest rates rise and (for this share at least) the good times roll again.
To achieve this the company has itself gone into debt, so the September update needs to be checked to ensure profits and cash still acceptable as the transition picks up speed.
A modest participation to start for me, made more comfortable by the dividend. I think the share price may respond favourably as BoE rate talk changes to action - last month first 2 members of the 9 voted for a quarter point rise.
PB By paddington_bear
RNS by Gwynfryn1
Mon, 09 Jun 2014 08:04:00 GMT
The market clearly was expecting better than this:
"Overall Group trading is modestly ahead of the same period last year during the historically quieter first four months of the year.
Good progress has been made on the diversification agenda with the full integration of two Debt Management books acquired at the start of 2014. These acquisitions have resulted in a very significant increase in DMP activity compared to the previous period. As expected, market conditions in the Group`s core debt solutions market remain challenging and the Group continues to avoid exposure to activity it considers uneconomic." By Gwynfryn1
Re: Close to peak? by pharmaspecialist
Fri, 11 Apr 2014 11:40:00 GMT
I originally bought into Farpoint because of its association with Hanover Investors who put a new management team in place in 2008 (including I believe the current CEO). Hanover has a good record and all the investments I made because of their involvement have worked out well. Hanover are long since gone from Fairpoint and I beleieve they sold their last shares almost exactly a year ago so perhaps that would be one reason to sell, although the CEO, Chris Moat, they put in place seems to have done a good job. This acquisition of Simpson Millar seems to be an aggressive move to expand as, despite the PR, there would not appear to be a great deal in comon between the two businesses. There is an article about the acquisition at www.legalfutures.co.uk I have been a client of Simpson-Millar for a couple of years as they are handling a continuing care claim for me on behalf a relation who went into a nursing home. They were one of the few solicitors who agreed to do this on a no win, no fee basis and I am happy with the service they have provided - I expect the slowness in settlement is due to the NHS rather than them. I would say I am mildly positive about the acquisition of Simpson-Millar and I believe the Investors Chronicle has given it the thumbs up so I will be keeping my Fairpoint shares but I would ask Chris Moat to please allow time to prove that this acquisition is successful before embarking on any more! By pharmaspecialist
Re: Close to peak? by chinanigel
Fri, 11 Apr 2014 01:41:00 GMT
I have held since 2012, it still looks cheap to me.
PE, div yield, cash flow and cash all look very good value.
Also interest rates will be rising at some time which could be another catalyst for this one.
190p wouldn't be expensive either but I might be tempted to sell then! By chinanigel
Re: Close to peak? by Gwynfryn1
Thu, 10 Apr 2014 14:24:00 GMT
Well, today's article by Simon Thompson in the IC may have answered my question. ST is impressed with the acquisition of Simpson Millar LLP, and expects an earnings upgrade. ST rates FRP a buy and puts his estimate of fair value of the shares at 190p from the current 165-170p. That's good enough for me. I am staying put. By Gwynfryn1
Close to peak? by Gwynfryn1
Sun, 06 Apr 2014 10:39:00 GMT
I have held FRP for 9 months now as a short term investment and have seen 21% upside since. I am beginning to wonder if there is any mileage left here, or whether I should take profits. Any thoughts anyone? By Gwynfryn1
Re: Views on results? by Fiendish Board Games
Mon, 17 Mar 2014 12:28:00 GMT
Tipped in the Chronic Investor today. They seemed to have the same view that an increase in interest rates is on its way sooner than we think. By Fiendish Board Games
Views on results? by pmrleahy
Thu, 13 Mar 2014 12:16:00 GMT
I'm not a holder but FRP is high on my watch list and I'm looking for the right entry point. From my quick amateur scan of the results it looks like the cash position has improved along with the profitability of the company and the dividend. My hesitation with buying though is that the P/E could be more attractive (I'm not using the adjusted EPS) and I'm concerned about 2014 revenues when interest rates remain low and unemployment is decreasing. Could be a good buy though if the interest rates start to rise later in the year.
Any other views? By pmrleahy
Friday's big trades? by TooBigToFail
Sat, 16 Nov 2013 17:10:00 GMT
Hello, recently acquired a position in FRP. Noticed two trades of 1,000,000 shares each, showing as sells, went through on Friday. Suspect they are not unrelated to the change of Chairman... anyone got any insight? Cheers. By TooBigToFail
Midas . by Harkins1950
Sun, 29 Sep 2013 07:17:00 GMT
MIDAS SHARE TIPS: Boss steers debt group Fairpoint back onto growth path
By JOANNE HART, FINANCIAL MAIL ON SUNDAY
PUBLISHED: 22:18, 28 September 2013 |
Before the financial crisis, borrowing money was as easy as winking. It is rumoured that even a dog was once given a credit card by an absent-minded bank.
Now credit is harder to come by, but careless lenders are still out there so much so that about seven million people in Britain are thought to be under financial stress.
Many try to deal with their problems by borrowing more from credit cards, store cards and payday loan firms. Eventually, they need help.
Expansion: Chief executive Chris Moat hopes to move into legal advice
Fairpoint Group aims to provide it. It prides itself on helping customers make their money go further and its approach finds favour with consumers and investors. The shares, 1241⁄2p, should rise steadily in the next few years.
Founded in 1997, Fairpoint focused solely on individual voluntary arrangements, a form of bankruptcy for consumers that became popular under the last Government. The group did well at first, but its focus on a single product left it vulnerable.
It hit a blip in 2007 and Chris Moat, a former managing director at insurer Direct Line, was parachuted in as chief executive in 2008. At the time, Fairpoint had just expanded into debt management programmes, which are less draconian than IVAs but tend to last longer.
A marketing man by training, Moat quickly recognised that Fairpoint needed to develop this side of the business and from scratch five years ago it now has more than 15,000 customers. There are also just over 20,000 IVA customers and the group is a clear market leader.
IVAs and debt management programmes sound frightening and firms that peddle them have been the butt of criticism. But Moat tries to distinguish Fairpoint from rivals by providing sound advice rather than just trying to sell the most profitable products.
Would-be IVA customers typically owe £30,000 to £35,000 on a take-home pay of about £21,000. Fairpoint talks them through their situation, looking at how much they earn and spend and who their creditors are.
It then assesses whether they should enter into an IVA, start a debt management programme or just be more canny with their cash. IVAs last for five years and consumers typically repay about 40 per cent of the debt they owe. Debt management programmes are often twice as long.
However in both cases, interest is frozen and Fairpoint takes charge so consumers no longer have to deal with angry creditors. If callers do not need any formal plans, Fairpoint staff are encouraged not to bamboozle them into programmes unnecessarily.
So in some cases, the firm just offers guidance. It can also provide advice on switching to cheaper energy suppliers under a service called Moneyextra and Moat recently added claims management to the roster. This tends to be offered to existing customers as a way of reducing their debt levels.
When Moat arrived, the business had just reported losses and a dividend of 4p was considered by some to be irresponsible. This year, the company is expected to deliver profits of £8million and a dividend of 6p, amply covered by earnings.
Economists expect an increase in IVAs and similar plans when interest rates go up. Meanwhile, Fairpoint is growing by winning market share, buying rivals and cutting costs.
Moat also hopes to move into legal advice.
Midas verdict: Some investors may baulk at making money from other peoples distress. But Fairpoint does aim to help customers rather than add to their woes. It is expected to grow solidly over the next three years and is committed to a generous dividend policy. A strong long-term investment.
Follow us: @MailOnline on Twitter | DailyMail on Facebook By Harkins1950
Re: Hanover involvement with Fairpoint is a ... by AvonSeaWitch
Mon, 23 Sep 2013 13:43:00 GMT
Hanover presence is not always a blessing - I invested in Plasmon because of their involvement and the shares became worthless before too long. By AvonSeaWitch
Re: Simon Thompson by IAmShareCrazy
Mon, 02 Sep 2013 19:03:00 GMT
Accumulation divergence plus strong fundementals equals a rising price. Brightside is another. I use market in out.com to find shares diverging and then use Zulu principle fundemental criteria. Another good one is undervalued shares with strong fundementals. See my message history to find out how. By IAmShareCrazy
Re: Simon Thompson by Gwynfryn1
Mon, 02 Sep 2013 17:29:00 GMT
Interesting. Thanks for that Wulfrunnut. I will have a good luck at the numbers and see what my estimate gets me to. The current momentum certainly shows that there is value here. By Gwynfryn1
Anyone else out there by 3000cleoc
Fri, 19 Sep 2014 12:44:59 GMT
FRP is tipped in IC today - currently yielding 4.3% and rising to 5.1% over next 2 years - well covered divi and less risky than others - diversifying, forward PE of 8 DYOR but looks decent for a 5% yield
sunday mail midas by langyy
Sun, 29 Sep 2013 04:56:36 GMT
Big half page spread about these,the other comps monitise and mogo's in that one toooooooo... Gla...
This by mogo
Mon, 16 Sep 2013 04:47:46 GMT
-has been one of the top risers in the iii Financials.Might be worth a look ? Profits,and debt are in the several £millions compared to a higher Mcap.Though they give a dividend forecast to be about 5%.Growth has been steady,not spectacular,but several small T/O's done this year.Nice recent charts too...
Nice to see the share reaching by Sutats
Fri, 23 Aug 2013 12:13:11 GMT
its high of years recent. Lets see where it takes us this time.
thats me in for the ride ;) by scotlouie
Fri, 24 May 2013 15:17:29 GMT
lets ride north next week!
riddler by ayana1
Mon, 18 Mar 2013 12:39:49 GMT
FRP/FLOR/PEN/PRM? Which has the most short term potential IYO
AT et al by riddler
Mon, 18 Mar 2013 12:04:11 GMT
bought in mate, horizontal resisatnce @ 17p and re-tiped in u know where @ 12pm
. by AwkwardTurtle
Thu, 14 Mar 2013 07:38:25 GMT
Great by Dooby
Fri, 05 Oct 2012 07:52:45 GMT
recent trading statement .... solid company this one , progressing well and they pay a nice dividend aswell !!! Hopiong for £1 + on the run upto xmas.
Audio interview by Steve247
Sun, 30 Sep 2012 19:07:15 GMT
Chris Moat gave an interview with some slides - I found it very interesting
frp by jange
Thu, 27 Sep 2012 21:26:57 GMT
Looking ahead to the second half of 2012 Fairpoint said it expects to continue the momentum seen in the first half. An interim dividend of 1.95p has been declared, up 11% from 2011.
frp by jange
Thu, 27 Sep 2012 21:26:38 GMT
Debt advisor Fairpoint Group reported a first half profit compared to a loss the same half a year earlier helped by a strong recovery at its IVA services division and as it continued to diversify its income streams. The group reported a pre-tax profit of £2.1m in the six months ended June 30th 2012 compared to a £2.1m loss the same period a year before. Revenue for the period rose 19% to £14.1m after a £2m increase in financial services revenues, mostly from its claims management services after strong growth for PPI claims. Debt management revenues grew by 11% to £2.8m. At its IVA services division the group posted adjusted pre-tax profits of £1.4m versus a £700,000 loss previously following cost cuts and robust demand. IVA revenues were unchanged at £8.7m. "Fairpoint has continued its strategy of growth through diversification with strong financial, operating and cash flow improvements during the first half of 2012. Early progress in the development of claims management services has been strong and additional products are under development to ensure continuing momentum in this area," the group said in a company statement. "We are also well positioned to continue to play a leading role in the ongoing consolidation of the debt solutions market, as and when value-enhancing opportunities emerge to consolidate our market position and diversify our income streams."
frp by jange
Fri, 27 Jul 2012 19:27:36 GMT
Amid less than ideal IVA conditions, Fairpoint has done well to reduce its reliance on that business and to cut costs. While the IVA operation looks well placed for growth once interest rates begin rising again. Adjust for last year's one-off charges and broker Shore Capital expects earnings to rise over 80 per cent in 2012 to 12.8p. The shares are still rated on a mere five times that earnings forecast and trade below the group's reported net asset value. Add that to a hefty prospective dividend yield of nearly 8 per cent, and the fast-diminishing debt pile, and such a rating is too lowgood luck all
frp by jange
Fri, 27 Jul 2012 19:26:59 GMT
Fairpoint also offers debt management plans (DMP) – for people who can make repayments in some form, but need flexibility on the repayment schedule and the interest that accrues on the borrowings. Revenue here grew by a robust 29 per cent last year, to £5.3m, and the division has also received a boost after Fairpoint made four DMP back book acquisitions, taking the total number of schemes under management up to 15,838. Tight cost control has helped the group to bring down borrowings rapidly – they've fallen from £6.4m at end-December to £1.6m last month. And that's before the receipt of proceeds from a successful effort to reclaim VAT – management reckons that could be worth around £4.5m. Moreover, the group's £8m debt facility with Royal Bank of Scotland, originally due to expire in December, has now been increased to £13m and extended to 2016.
frp by jange
Fri, 27 Jul 2012 19:26:36 GMT
In fact, Fairpoint's attempts to diversify away from IVAs is progressing well and, last year, income from the financial services arm more than doubled to £2.4m. Much of the improvement came from commencing a programme of payment protection insurance reclaim activity with the existing IVA customer base. The financial services business also includes a venture into pay-day lending under the group's Loanextra banner – a potentially promising source of growth. Although the weaker credit profiles of borrowers in this market makes this a risky area for newcomers and any credit control glitches could mean bad news for bad debts. Fairpoint's background in the IVA sector, however, should help it avoid such pitfalls.