Don't forget FK's SHIPS



It seems to me that a crucial factor in the assessing the prospects for this firm lie in its SHIPS - it now has two in operation SHIPS14 and SHIPS15. This should result in a two fold benefit (1) additional fees of the order of £200,000 - £300,000 per SHIP (2) capital gain on the sale of the SHIP property (e.g. SHIPS 06 and SHIPS11 combined made a realised capital gain of £174,000 boosting 2014’s results. This was on a £500,000 total investment by FK). The latest batch of SHIPS have taken £875,000 of FK’s cash to coinvest with outsiders (they oversubscribed because they saw returns of 11% pa and 20% pa in the past on SHIPS06 and SHIPS11 respectively) to purchase one property at £9 and another at £8m. That will mean a nice income boost. And, maybe, a capital gain on the amount invested. That is about all I know about the SHIPS. Can anyone help? Does anyone have any information beyond that which is presented by Mr Fletcher?


It looks like our SHIP has come in! The result is an 8p special dividend. (Ex-div 11 Sep, paid 25 Sep).