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1PM Share Chat - OPM

Share Name Share Symbol Market Type Share ISIN Share Description
1PM LSE:OPM London Ordinary Share GB00BCDBXK43 ORD 10P
  Price Change Price Change % Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.50 -2.22% 66.00 64.00 68.00 67.00 66.00 67.00 31,084 08:15:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 5.5 1.6 3.7 17.7 24.32

1PM Plc Share Discussion Threads

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Quick look at the numbers says: - Acquisition revenues £5.1m / OPM revenues £5.5m - Acquisition Profit before tax £1.8m / OPM PBT 1.6m So the acquisition more or less doubles the size of OPM in one stroke. And they are paying only £12m when the current MV of OPM is £22m Looks a good deal to me. All IMO & DYORramridge
Looks like they read your mind PJ.stegrego
Difficult to say from the information we have but, would this acquisition remove the need for repeated fund-raising to raise much of the case to be lent out by OPM. If so, it could put booster rockets under OPM's EPS growth. All IMHO.shanklin
looks like this is what was holding the share price downowenski
Morning. I know nothing of 1pm and am starting to take a look. Its an area where I always struggle to make sense of the Accounts (small pos in AVAP) Specifically what are the views on acquisitions here to accelerate growth? Is there opportunity, is it a fragmented area? As they have invested in 'themsleves' would that give overhead saving with any acquisition? TIA pjpj 1
They spent a lot of money over the last 12 months investing in the business which means that as the business grows over the next 12 months the operational gearing should really kick in delivering increased profitability. I would still rather not have the divi though!salpara111
Salpara111 I agree re the dividend. As today's RNS states, "The raw material for 1pm's business is cash". So why waste it on shareholders? If we want cash we can sell some shares. OPM should be maximising shareholder value by minimising the need to raise more equity cash. I have just been re-looking at WH Ireland's broker estimates for OPM. I can see no way that the forecast 2016 revenue of £8.9m would turn into PBT of £2.0m. This would require OPM's operating efficiency to fall off a cliff. If the business runs at a similar level of efficiency to the last few years, I would have thought PBT of at least £2.6m would result from the estimated revenue. If, as seems more likely, the recent developments increase efficiency, the number could be even higher. All IMHO. Cheers, Martinshanklin
Looks like I might get the chance to top up again after all! I was a little surprised that they chose to offer up a divi, at this point I would much rather that they keep the cash and invest it in growing the business.salpara111
Hi owenski I have contacted OPM a couple of times over the last year. Its one of my larger holdings. Hopefully WH Ireland's coverage will clarify matters. If not, I will contact OPM. Cheers, Martinshanklin
Hi Shanklin, you can always email the company on that point, they're pretty good at answering enquiries.owenski
Hi davidosh Was very impressed by today's results and hopefully, at some point, there will be upgrades forthcoming for next year. Little wonder that OPM is often viewed as one of the best run companies on AIM. In terms of your post and what, unusually, was an unclear use of language by OPM, they use the term "Monthly sales" not "new business written". In particular they state, "Monthly sales have doubled since the last financial year and the Board is confident that new business origination will continue to increase over the next 12 months." Quite probably the two are the same but I would prefer it if OPM had been clearer, as I thought the language was so imprecise that I wondered if they did not mean "new business written" had doubled in the first part of the current year. For example, do they actually mean: "New business origination has doubled since the last financial year and the Board is confident that it will show year-on-year increases over the next 12 months" A rare lapse IMHO. Cheers, Martin EDIT: P.S. In terms of the above, "Sales" could reasonably have meant "Revenue" given that the line below "Revenue" in the results is "Cost of Sales"shanklin
Significant piece of info for gauging growth is that new business written is currently running at double the level of last year. Overall in 2014 business was up 49%so to have increased even further to potentially 100% up in current year is great news. However bad debts are down at record lows which is excellent news. In May 2014 they did 920k new business in the month of April 2015 they have just stated they did £2m. They are also recruiting another seven staff on top of the increase built into the office move last year. They are clearly booming and must benefit from great operational gains as the loan book growsdavidosh
Blimey just noticed FY results were issued almost two months earlier than last year.shanklin
And a maiden divi thrown in for good measure. For Aim this is a well-managed outfit which does just what it says on the tin.frenchfry
So OPM aim to increase their loan book from circa £30m to £75m over the next 3-4 years.shanklin
David Stredder at Mello Monday 15.6.15 talking about OPM. One of the last companies on the clip. (It's all the company suggestions including others). hxxp://www.piworld.co.uk/mello-monday-june-15-2015tomps2
Indeed this is a far from mature growth stock not income provider for investors. Thankfully I think OPM are keen to be able to continue the under promise over deliver habit !davidosh
WH Ireland have upped the EPS estimate for y/e Mar-15 from 3p to 3.7p but left the EPS for y/e Mar-16 at 4.4p, with a dividend of 0.3p for y/e Mar-15 and 0.4p for the current year. It seems to me that the estimate for y/e Mar-16 is ridiculously low, and extrapolating the recent growth, EPS should be at least 5p. Additionally, why or why is OPM paying a dividend? It needs all the cash it can get to grow its loan book and should not be frittering any away to shareholders to the detriment of the ongoing business. If any prospective shareholder suggested they could not invest in OPM because it doesn't pay a dividend, they should be put firmly back in their box. There will be plenty of takers for OPM shares provided management continue to grow the business to the maximum whilst managing credit risk as well as has onbiously been the case. All IMHO, which in this case is not very humble :-) Cheers, Martinshanklin
I think the two key pieces of information were the loan book growth at £30m which is up nearly 50% over same time last year and for current trading the fact that the last quarter was the best ever with £5.5m of new business completed (they did £5.7m in the whole of H2 last year) so the growth is fantastic and the new HQ building, one or two new key staff and improved systems will all help to allow continued and substantial growth from here without hitting capacity constraints. Look how bad debt control has really improved too even though it was already one of the best in the sector. The company is doing a great job and rewarding shareholders. Very proud to be a significant shareholder here.davidosh
Folks were paying more than this when the total book value was 20m Its now at 30m Although increased business costs will have some impact on EPS, the decision to invest in the business capacity with office move, IT systems and headcount etc looks to be paying off already, if they hadn't done this, one could see constraints on future growth at some point. Impressive growth figures in that TU SP moved up through the key MA's and the volume is kicking in, so the recent down trend looks done. I'd offer interesting times ahead. Great business. IMOowenski
Glad to see they're still on track. Must admit I was getting a little nervous having heard nothing from them for such a long time!jamielein
Well done OPM. Now get back to those previous highs.stegrego
I guess the share price weakness is probably due to the uncertainty regarding the increased business costs and how that will pan out. My estimate would have been for EPS of over 4p - possibly nearer to 5p for this year - but as the increased costs are unknown its difficult to estimate, they'll certainly read lower as a result. Headline numbers of revenue and PBT are likely to show continuing growth, and as the investments are to grow the business from a larger platform, I'd say it's all going to come good at some point. Also, there was talk of a maiden dividend for this year. Chart's been in a down trend and I'm not going against that. All in all, it's probably just some uncertainty about the enlarged cost base and confirmation that it's all bedding in. One last thing - they did talk about suitable acquisitions, so maybe some uncertainty about quantum and funding of that. Still a business worth watching very closely though IMVowenski
I have been tracking this one for a while but felt that it had got ahead of itself. Personally I feel that the current valuation in now fair so a bit of guidance to the upside should see the share price move back up again. I have no stake at present but am considering taking one before the next update which should be in the next few weeks.salpara111
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