UK 14:36 Monday, 26 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
As you know, ShareProphets reader 42 knows Quenron (QPP) better than most and as such his predictions on what PWC will say about the company are worth paying attention to. They make for terrifying reading if you are long. 42 posts:
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Comments
Mike
Tom, I have just read this post from 42. It is the most unintelligble piece of garage writing that I have read in a long while, indeed I read it twice but still cannot fathom it out. Share prophets have cut and pasted this drivel, it seems without proof reading. Look, Quindell’s sp has risen near four fold in less than a month, this should be highlighted, not bs from 42. The stock market is always right and for whatever reason, and only a few people know of the reason, the market value of Quindell has increased. Kind regards, Mike.
Rob
MIKE if that is so difficult to understand then you should not invest in shares. I admit I had to read it twice and I am an FCA but I suggest you read it 4 times and buy a new calculator that works alongside your rose tinted spectacles
ROB (different ROB to the second response)
Rob – Understand what Mikes saying. Its not clear what is actually being quoted here. The second paragraph onwards I’m assuming has been copy and pasted from a bb, but the quotes and unquotes make it difficult to fathom out. If postings are going to be copied from BB’s it needs to be a bit clearer, and does not help the matter than the style that it was written in is slightly jumbled. By all means take selected statements, but when posting en bloc its just a mess.
wiggly
I did not think there was anyone left who thought “the stock market is always right”. Trust it to be a QPP BBM!
wildrides
Mike ………… I thought “garage” was a genre of modern music ( well noise anyway ) . I read your point twice and still did not understand it .
Bob
<sarc>
@Mike
“The stock market is always right and for whatever reason, and only a few people know of the reason, the market value of Quindell has increased. Kind regards, Mike.”
There you go Tom.
Shame you do not have access to this “and only a few people know of the reason” information. I suppose you will have to rely on Mr 42 and your own perspective as people living on the outside whilst everyone else multibags having averaged down prior to the next placing.
Sucks to be you.
</sarc>
Mike
Rob, I invested in Quindell at 62p and got out on a short at 90p, for a £42,000 profit. You admit uou had to read it twice and that proves it was bs. Instead of writing, writing and writing again utter drivel, follow the market, invest some money, make a few bob and don’t make crap comments, I.e rose tinted spectacles. By the way, wtf is an fca, hope it pays more than investing investing in Quindell with a stop loss. Kind regards Mike. N.b , just checked on my calculator, and yes, it was a £42,000 profit,!
invetigate
Mike look at Enron share price over its last year. It also climbed like QPP has.
Example of your over excitement. Some BBs believe they will get £140m for Mobile Doctors. In 2013 only had a profit of £1.55m so how do you get £14m in 2014. It should be noted that the top four executives of Mobile Doctors have left.
Mobile Doctors had a margin of 6.8% in 2013 how does it become 28% in 2014.
Scott Sanderson
Oh dear another copy paste from comments section! Hilarious, keep it up!
If you’ve got nothing decent to say….. just copy paste! #classic blog site
T.Welbourn
Rob
That is a bit rough but perhaps it’s down to a couple too many pre dinner drinks. I take it that you do mean that you are an accountant and not the financial conduct authority. Since when has it been necessary to be an FCA to invest in shares. And you admit to having to read it more than once, so perhaps you shouldn’t be investing either!
Rob
Beware of fair value adjustments DR goodwill CR profit = nil operating cash
turbograndad
Bickering children,
Flaunting profit Mike like willy size, dear O dear, then the stock market is a barometer of any moment in time,and time passes and the barometer goes up down, relativity not a moral judgement.
The SP movements are many, and vicarious. GLA.
Scott Sanderson
Rob Mr FCA!
Beware of cashflow H2 +£13m = below forecast but > H1 -£51m
Phil
MIke
If, and I quote
“Tom, I have just read this post from 42. It is the most unintelligble piece of garage writing that I have read in a long while, indeed I read it twice but still cannot fathom it out”
Care to come back and thrill with your acumen and tell us that if you cannot understand it, how do you know it is garbage.
I understood it, it says that Quenron is hardly worth fuck all, but there again we knew that anyway. 42 has worked out how big is “fuck all” and it is on the non-existent side of “fuck all”
It would be churlish not to say you made a very good profit and good luck for that. But if you go back believing in Quenron when the music stops (and it will), you will lose it all and you will join all the other shareholders who have been screwed by Rob Terry, you forgot to mention them.
wildrides
mike
so you staked £93,000 on a share that could have been suspended at any time . I hope no readers follow your example with their life savings . Its happened before ………… many folk were wiped out totally in last weeks FX debarcle with the swiss franc …….. a black swan moment . No doubt you staked what you could afford to lose . Many are not so wise ……….. so dont boast about it .
Dominic Cooper
Just on Mobile Doctors, as has been pointed out, its profit prior to being part of the Quindell Magic does not justify the valuation that has been leaked (which is market abuse btw) by QPP to the morons via QPPSAG.
But that profit was made under a different regime. It has been officially announced now that the rules will change (probably April) for low-value personal injury claims in motor accidents (not just whiplash). The draft rules have been published.
Any claim for damages resulting from a motor vehicle accident involving a “soft tissue injury” will HAVE to have a medical report that can cost a maximum of £150 (with a further £30 available if the medical reporter obtains copies of the claimant’s medical records) and CAN NOT be from a medical agency of the claimant’s own choosing. Instead a new medical agency, run by the Association of British Insurers and the Motor Insurers Bureau is being created. MedCo (as the working title is at the moment) will select doctors to do the reports itself, and the Claimant pays the doctor the £150 directly.
That is the job that Mobile Doctors did in the past and of course soft-tissue injuries for motor vehicles are the majority of all personal injury claims and the bread and butter of an outfit such as MD.
Whilst there is nothing in theory to stop MD registering as an agency provider on the MedCo portal, I can’t see there is enough cream on the milk to pay both MD and the Doctor and the MedCo’s portal cost. Significantly, there is no way an outfit such as MD can pro-actively advertise itself, or promote any “value added” service, so essentially even if it joins the portal, any instructions it gets will be just random clicks by solicitors.
Oh, and the rules will prevent QPP from instructing MD even if it wanted to.
So the valuation of MD under the new system has to be lower than under the old.
PLUS given that QPP can not instruct MD, a lot of the value of MD to QPP is gone. It is in fact a liability. It pretty much HAS to sell, and any buyer will (or should) realise that. If anybody pays anything like £140 MILLION for MD that purchaser either has to be a total idiot, or, another part of the wonderful web of RT.
On that last note, I wouldn’t put it past them to sell QPP shares to another subsidiary to “buy” it outright, offload the shares, and use the money raised to buy MD from itself, to keep the show on the road.
dasv
“Tom, I have just read this post from 42. It is the most unintelligble piece of garage writing that I have read in a long while, indeed I read it twice but still cannot fathom it out. “
1. it reads fine to me and makes sense. If you don’t understand some terms, google is your friend – see investopedia.
I got a 16.5p valuation if 50% receivables result in cash collection. I think this is highly optimistic. If 25% receivables result in cash collection, and acquisitions are marked to book value, and the tax bill of 40-45m is paid, I got a negative valuation.
2. “Share prophets have cut and pasted this drivel, it seems without proof reading”
Perhaps you should have proof-read your own post? – e.g. “garage writing”
Pauly Walnuts
42,
Your calcs on goodwill and carrying values of tangibles are very clear to me and make very interesting reading (not quite sure what some of the numpties above are frothing at the mouth about !!)
I’ve always looked at QPP’s goodwill calcs and scratched my head.
Maybe if PWC wanted to understand the treatment of goodwill, they need look no further than to delve into the acquisition of Quindell Property Services, which was one of QPP’s 3 main acquisitions in 2014. Understanding that transaction would go a long way to getting a handle on how QPP deal with goodwill/acquisitions.
From the 2014 accounts, QPP spent £33.6 m on QPS, it’s carrying values of assets was £2m, of which £1.4m was intangibles. So £600 k of tangibles for a £33.6m outlay. Gulp !!!
Also, if PWC is reviewing the accounting policies, it should IMO be looking at how QPP treats the shares it isssues for acquisitions that it parks directly into the subsidiaries of companies it acquires/takes control of.
This needs to be looked at twofold, I.e. how is the issuance of shares treated in the parent co( one would think there’s an element of the shares being taken into treasury here), and also how is the subsequent disposal of any of those shares in the sub treated.
All good fun.
Mike
Good morning, too much vino last night. However, still cannot grasp reader 42’s comments, it must be me. Investigate, yes, fair point about Enron. Turbo grandad, you are right, I should not have mentioned my profit, although the truth it did appear boastful.Wildrides, agreed, but I invested on the basis that suspension was becoming more unlikely, my risk I guess. I also hope no other readers follow my example and wii try to cease posting, just in case. Dominic Cooper has just written, which even I can understand, it must be me. Kind regards Mike.
Pauly Walnuts
Oopsie, obviously I’m referring to the 2013 QPP accounts (not 2014).
As you were.