Latest news with #Arbuthnot
South Wales Guardian
17-07-2025
- Business
- South Wales Guardian
Fujitsu ‘kicking can down the road' on compensation, says Post Office campaigner
Conservative peer Lord Arbuthnot of Edrom, who played a pivotal role in exposing the outrage, accused the Japanese tech giant of holding out with a view to reducing the amount it would ultimately have to pay. He argued the only way to change the under-fire company's attitude would be for the Government to stop awarding it contracts. Despite its involvement in the Post Office debacle, the firm has continued to secure multimillion-pound deals with Whitehall, bankrolled by the taxpayer. Fujitsu has already acknowledged it has a 'moral obligation' to contribute to compensation, pending the outcome of the public inquiry led by Sir Wyn Williams. The firm has come under renewed pressure after the publication of the first part of Sir Wyn's final report. It found around 1,000 people were wrongly prosecuted and convicted after Fujitsu's defective Horizon accounting system made it appear that money was missing at their Post Office branches. Some victims were sent to prison or financially ruined, others were shunned by their communities, and some took their own lives. The long-running battle for justice accelerated dramatically after ITV broadcast the drama Mr Bates Vs The Post Office, which highlighted the scandal. Sir Wyn said around 10,000 people are eligible to submit compensation claims following what has been dubbed as the worst miscarriage of justice in British legal history. Speaking in Parliament, Lord Arbuthnot said: 'This matter has taken place over many years, under Labour ministers, Lib Dem ministers, Conservative ministers, 'We should all, frankly, hang our heads in shame.' He added: 'I went along to The Oval last week to listen to Sir Wyn give his excellent report, and he used a telling phrase about Fujitsu, namely that they were kicking the can down the road. 'That's exactly what they are doing. 'The longer they think they can stave off paying a single penny towards the victims of this matter, the less they think they will have to pay. 'Does the Government recognise that the only way we can change that behaviour is to stop giving them contracts?' Responding, business minister Baroness Jones of Whitchurch said: 'I must pay absolute tribute to him for all of his involvement in this running scandal over many years, and for helping to bring the scandal to light.' She said the Government was in 'active dialogue' with Fujitsu on the issue of compensation. The company has said it will not bid for contracts 'with new Government customers' until the Post Office Horizon inquiry concludes. However, this still leaves it open to tender for work with existing Whitehall clients or 'where there is an agreed need for Fujitsu's skills and capabilities'. Latest figures show a further 12 new deals had been struck with the company over the last year, in addition to extensions of existing contracts. The Government has said the majority are for services already provided by Fujitsu and were put in place to ensure continuity of services. Lady Jones told peers: 'The extent of Fujitsu's role on the scandal is not fully known, and therefore we feel it would be inappropriate for the Government to take further action until we have all parts of the inquiry before us.' A Fujitsu spokesperson said: 'We have apologised for, and deeply regret, our role in subpostmasters' suffering. We hope for a swift resolution that ensures a just outcome for the victims. 'We are considering the recommendations set out by Sir Wyn in volume one of the inquiry's report, and are engaged with Government regarding Fujitsu's contribution to compensation.'
Glasgow Times
17-07-2025
- Business
- Glasgow Times
Fujitsu ‘kicking can down the road' on compensation, says Post Office campaigner
Conservative peer Lord Arbuthnot of Edrom, who played a pivotal role in exposing the outrage, accused the Japanese tech giant of holding out with a view to reducing the amount it would ultimately have to pay. He argued the only way to change the under-fire company's attitude would be for the Government to stop awarding it contracts. Despite its involvement in the Post Office debacle, the firm has continued to secure multimillion-pound deals with Whitehall, bankrolled by the taxpayer. Fujitsu has already acknowledged it has a 'moral obligation' to contribute to compensation, pending the outcome of the public inquiry led by Sir Wyn Williams. The firm has come under renewed pressure after the publication of the first part of Sir Wyn's final report. It found around 1,000 people were wrongly prosecuted and convicted after Fujitsu's defective Horizon accounting system made it appear that money was missing at their Post Office branches. Some victims were sent to prison or financially ruined, others were shunned by their communities, and some took their own lives. The long-running battle for justice accelerated dramatically after ITV broadcast the drama Mr Bates Vs The Post Office, which highlighted the scandal. Sir Wyn said around 10,000 people are eligible to submit compensation claims following what has been dubbed as the worst miscarriage of justice in British legal history. Speaking in Parliament, Lord Arbuthnot said: 'This matter has taken place over many years, under Labour ministers, Lib Dem ministers, Conservative ministers, 'We should all, frankly, hang our heads in shame.' He added: 'I went along to The Oval last week to listen to Sir Wyn give his excellent report, and he used a telling phrase about Fujitsu, namely that they were kicking the can down the road. 'That's exactly what they are doing. 'The longer they think they can stave off paying a single penny towards the victims of this matter, the less they think they will have to pay. 'Does the Government recognise that the only way we can change that behaviour is to stop giving them contracts?' Responding, business minister Baroness Jones of Whitchurch said: 'I must pay absolute tribute to him for all of his involvement in this running scandal over many years, and for helping to bring the scandal to light.' She said the Government was in 'active dialogue' with Fujitsu on the issue of compensation. The company has said it will not bid for contracts 'with new Government customers' until the Post Office Horizon inquiry concludes. However, this still leaves it open to tender for work with existing Whitehall clients or 'where there is an agreed need for Fujitsu's skills and capabilities'. Latest figures show a further 12 new deals had been struck with the company over the last year, in addition to extensions of existing contracts. The Government has said the majority are for services already provided by Fujitsu and were put in place to ensure continuity of services. Lady Jones told peers: 'The extent of Fujitsu's role on the scandal is not fully known, and therefore we feel it would be inappropriate for the Government to take further action until we have all parts of the inquiry before us.' A Fujitsu spokesperson said: 'We have apologised for, and deeply regret, our role in subpostmasters' suffering. We hope for a swift resolution that ensures a just outcome for the victims. 'We are considering the recommendations set out by Sir Wyn in volume one of the inquiry's report, and are engaged with Government regarding Fujitsu's contribution to compensation.'
Western Telegraph
17-07-2025
- Business
- Western Telegraph
Fujitsu ‘kicking can down the road' on compensation, says Post Office campaigner
Conservative peer Lord Arbuthnot of Edrom, who played a pivotal role in exposing the outrage, accused the Japanese tech giant of holding out with a view to reducing the amount it would ultimately have to pay. He argued the only way to change the under-fire company's attitude would be for the Government to stop awarding it contracts. Despite its involvement in the Post Office debacle, the firm has continued to secure multimillion-pound deals with Whitehall, bankrolled by the taxpayer. The longer they think they can stave off paying a single penny towards the victims of this matter, the less they think they will have to pay Conservative peer Lord Arbuthnot Fujitsu has already acknowledged it has a 'moral obligation' to contribute to compensation, pending the outcome of the public inquiry led by Sir Wyn Williams. The firm has come under renewed pressure after the publication of the first part of Sir Wyn's final report. It found around 1,000 people were wrongly prosecuted and convicted after Fujitsu's defective Horizon accounting system made it appear that money was missing at their Post Office branches. Some victims were sent to prison or financially ruined, others were shunned by their communities, and some took their own lives. The long-running battle for justice accelerated dramatically after ITV broadcast the drama Mr Bates Vs The Post Office, which highlighted the scandal. Sir Wyn said around 10,000 people are eligible to submit compensation claims following what has been dubbed as the worst miscarriage of justice in British legal history. Speaking in Parliament, Lord Arbuthnot said: 'This matter has taken place over many years, under Labour ministers, Lib Dem ministers, Conservative ministers, 'We should all, frankly, hang our heads in shame.' He added: 'I went along to The Oval last week to listen to Sir Wyn give his excellent report, and he used a telling phrase about Fujitsu, namely that they were kicking the can down the road. 'That's exactly what they are doing. 'The longer they think they can stave off paying a single penny towards the victims of this matter, the less they think they will have to pay. 'Does the Government recognise that the only way we can change that behaviour is to stop giving them contracts?' We have apologised for, and deeply regret, our role in subpostmasters' suffering. We hope for a swift resolution that ensures a just outcome for the victims Fujitsu spokesperson Responding, business minister Baroness Jones of Whitchurch said: 'I must pay absolute tribute to him for all of his involvement in this running scandal over many years, and for helping to bring the scandal to light.' She said the Government was in 'active dialogue' with Fujitsu on the issue of compensation. The company has said it will not bid for contracts 'with new Government customers' until the Post Office Horizon inquiry concludes. However, this still leaves it open to tender for work with existing Whitehall clients or 'where there is an agreed need for Fujitsu's skills and capabilities'. Latest figures show a further 12 new deals had been struck with the company over the last year, in addition to extensions of existing contracts. The Government has said the majority are for services already provided by Fujitsu and were put in place to ensure continuity of services. Lady Jones told peers: 'The extent of Fujitsu's role on the scandal is not fully known, and therefore we feel it would be inappropriate for the Government to take further action until we have all parts of the inquiry before us.' A Fujitsu spokesperson said: 'We have apologised for, and deeply regret, our role in subpostmasters' suffering. We hope for a swift resolution that ensures a just outcome for the victims. 'We are considering the recommendations set out by Sir Wyn in volume one of the inquiry's report, and are engaged with Government regarding Fujitsu's contribution to compensation.'
Yahoo
21-06-2025
- Business
- Yahoo
Does the Arbuthnot or the NatWest share price offer the best value?
NatWest Group (LSE:NWG) and Arbuthnot Banking Group (LSE:ARBB) are two UK-listed banks with very different profiles but both attracting investor interest. With the NatWest shares price surging, I want to look at other options. So let's break down their forward valuations and dividend prospects to see which might offer better value for 2025 through 2027. NatWest's forward price-to-earnings (P/E) ratio is expected to fall from 9.18 times in 2025 before falling back to 8.24 times in 2026 and 7.54 times in 2027. This reflects a continued earnings growth as the macroeconomic situation improves. Arbuthnot, on the other hand, has a P/E falling from 7.37 times in 2025, then declining to 6.28 times in 2026 and 5.49 times in 2027. Arbuthnot's lower multiples suggest it's trading at a discount relative to NatWest, though its earnings are less predictable. NatWest's dividend per share is forecast to increase from 17p in 2024 to 29p in 2025, 32p in 2026, and 36p in 2027, translating to a dividend yield rising from 5.35% to 6.84%. Its payout ratio is steady around 40-51%, indicating a balanced approach between rewarding shareholders and retaining capital. Arbuthnot's dividends are expected to fall from 2024 — an exceptional year at 69p — falling to 53p in 2025, and then rising to 57p in 2026, and 61p in 2027, with the yield reaching 6.39% at the end of the period. Its payout ratio's expected to fall from 45% in 2024 to 35% in 2027. NatWest's price-to-book-ratio (PBR) is forecast to rise from 0.82 times in 2024 to 1.12 times in 2025. It then eases to 0.96 times in 2027, showing growing investor confidence. Arbuthnot's PBR's lower, around 0.54 times in 2024 with no onward forecast. Both banks trade at similar enterprise value-to-revenue multiples near 0.8–0.85 times in 2025, indicating comparable market pricing relative to revenues. NatWest benefits from a strong capital position, improving net interest margins, and a supportive UK banking environment, driving steady earnings growth. Arbuthnot, a smaller, more niche player, also shows rapid revenue growth but more earnings volatility, which may appeal to investors seeking higher risk and reward. Arbuthnot looks slightly cheaper, based on forward earnings metrics, despite having a marginally lower dividend yield. I would however, suggest that the lower payout ratio could lead to faster dividend growth. Personally, I favour the AIM-listed bank. However, I appreciate that being AIM listed, it may be easily overlooked by investors. Coupled with its smaller size, it may continue to trade at a discount to larger peers. I believe investors should consider both stocks, and decide which is right for their portfolios. However, my choice is Arbuthnot, and I've recently opened a small position in the bank. The post Does the Arbuthnot or the NatWest share price offer the best value? appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool James Fox has no position in Arbuthnot Banking Group PLC. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025
Yahoo
13-06-2025
- Business
- Yahoo
This bank trades at 7.3 times earnings and has a 5.6% dividend yield… I'm interested
Arbuthnot Banking Group (LSE:ARBB) could be appealing to investors seeking a combination of value and income. It addition to its sizeable yield, it's trading at earnings multiples that are slightly below its blue-chip peers. What's more, it might not be getting the attention it deserves. It hasn't been covered on Fool UK for six years… maybe it's simply overlooked. The group's valuation metrics suggest it is trading at a discount relative to its earnings and book value, which may appeal to value-oriented investors. Specifically, the forecasted price-to-earnings (P/E) ratio is 7.3 times for 2025, improving to 6.2 times in 2026. These relatively low multiples indicate that the market may be underestimating the bank's earning potential in the near term. The bank's price-to-book ratio was just 0.53 in 2024. Once again, this suggests it's simply undervalued. This tells us that shares are trading well below the group's net asset value. Coupled with this, Arbuthnot is expected to pay dividends of 53p per share in 2025 and 57p in 2026. This translates to attractive dividend yields of approximately 5.6% and 6%, respectively, based on the current share price of £9.48. Earnings per share (EPS) projections show a slight dip in 2025 to 129.6p, followed by a rebound to 152.2p in 2026, reflecting a return to profit growth after a modest slowdown. Net income is forecast to increase from £21.3m to £25.1m over this period. This valuation discount offers a margin of safety, which could protect investors against downside risk while providing potential for re-rating if the company's profitability improves. Arbuthnot has been actively investing in its infrastructure and technology, positioning itself for future growth. Recent expansions include moving to larger London premises and bolstering its specialist lending and wealth management divisions. Management has also taken steps to mitigate interest rate risk by shifting towards fixed-rate lending and investing in high-quality securities. This strategy is designed to protect the bank's margins in a potentially falling interest rate environment, as liabilities tend to reprice faster than assets. Despite these positives, there are risks investors should consider. The bank's earnings remain sensitive to interest rate fluctuations. Although management has taken measures to reduce this risk, unexpected changes in rates could still impact profitability. Credit risk is another concern. While the loan portfolio is well-secured, a worsening economic environment could increase defaults, especially among clients flagged as watchlist risks. The metrics look good and I'm fairly confident about the state of British banking at this time. The economy is growing slowly and interest rates have been falling at a steady pace, allowing for a gentle unwinding of strategic hedges. I'm also interested by the consensus price target which sits 62% above the current share price. While I'm not going to buy straightaway, I'm going to add this one to my watchlist and continue to look at the data. The post This bank trades at 7.3 times earnings and has a 5.6% dividend yield… I'm interested appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool James Fox has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025
