|And, again, for no reason whatsoever, we head back towards the placing price.|
|WHEN: TUESDAY THE 11TH OCTOBER 2016 - DOORS OPEN AT 6.00 PM; THE PRESENTATIONS START AT 6.30 PM
WHERE: CAXTON ARMS, 36 NORTH GARDENS, BRIGHTON, BN1 3LB
CEO Ian Smith will be presenting in Brighton with Paul Scott.
Click here for more information: http://www.sharesoc.org/brighton-oct.html|
|1PM will be presenting in Brighton on Tuesday 11th October at AXTON ARMS, 36 NORTH GARDENS, BRIGHTON, BN1 3LB
- 1PM (OPM): Specialist provider of finance to the UK SME Sector. CEO Ian Smith will be presenting.
There will also be a talk from Paul Scott (Stockopedia) on small cap stocks at this event.
Please use this link to register: hxxp://www.sharesoc.org/brighton-oct.html|
|Positive update....hopefully it can finally move back to levels it was hitting over a year ago!|
|Super and professional presentation by a CEO that knows his business, a lot of detail in that that would be difficult to assess from the results alone.|
|Very helpful presentation. Thanks for posting|
|Excellent stuff. Very helpful given that I could not attend Monday's event.|
|Video of OPM at Mello 26.9.16
Presentation by Ian Smith, CEO
Length: c.45 minutes
Ian Smith took over as CEO, in February 2016, having been bought in 2.5 years ago to initiate a strategic growth plan.
Ian Smith covers:
1. What OPM do
2. The market
3. Breakdown of revenue across the original business and acquisitions
4. The latest results
5. The strategy for future growth
With questions and answers by the Mello audience.|
|Thanks for the updates, guys. As someone who bought in a couple of years or so back, this business has grown organically and through acquisition, and I'd agree with the comments above that it should be afforded a better value by the market. But patience will usually bear fruit, unfortunately this tree is taking a little longer than most to produce...|
|Just been speaking with davidosh and, unless one believes that Brexit is going to destroy the whole of British business and nobody will ever pay back a loan (Not a problem being experienced by SUS), it sounds as though there were a number of positives in the presentation.
AIUI, this includes OPM:
- having reduced their average cost of funding by 1%;
- having very good access to additional funds so that they can take whatever loans they want to onto their own books rather than broking them on. Over the life of a loand this is far more profitable
- through the acquisitions sourcing more of their business through their own staff as opposed to third parties.
Should learn more when the video becomes available.|
|There were lots of questions including why the divi was fairly low and covered ten times so why bother paying one if using the money to grow the business out ? The presentation was filmed so should be available at the end of the week|
|I can only assume that the news was not positive.
In my view the company has performed really well but I am hugely disappointed by the share price performance.
I am at little more than b/e after more than an year during which the company has doubled profits and paid their maiden divi, I cant see what more they can do.|
|I had a table tennis match last night so could not make Mello. Would be very interested in any feedback from those attending.
Thank you in hope if not in anticipation.|
|Just a reminder that OPM are presenting this evening in Beckenham....
|With revenue previously forecast to increase by 40% in 16/17 vs 15/16, I cannot see dilution being the major issue allegedly cited by Cenkos?|
|The 5.51p eps number is based on 52.002m shares|
|The weighted average number of shares used in the 2015-16 results was 48.85m. There are currently 52.5m shares in issue. Deferred consideration for the acquisitions, if performance criteria are met, is up to 3.9m shares for Academy and 0.55m for Bradgate. That would give a total of 56.95m. The weighted average for 2016-17 should therefore be something above 52.5m and something below 56.95m, depending on the number of new shares issued as consideration, if any, and when they are issued. Of course this only covers the acquisitions to date.|
|P.S. Stockopedia was previously showing 5.1p and 6.7 EPS for the last and current financial years, when we already knew the 5.1p should have been 5.9p.|
|Given the information in note 5 to today's results, is there potential for much additional dilution from the acquisitions to date? Or are Cenkos citing another reason for them?|
|Why has book value fallen 5% in H2?|
|A quick interview with the CEO on today's results
|Cenkos new forecasts for 6p then 7.2p. The 2016/17 forecast is diluted by a larger number of shares in issue, so no increase from this year's eps. That feels a bit conservative.|
|The results are exactly in line with expectations set by the July trading statement.
Attention now turns to 2016-17 and so far I have not seen any guidance as to what to expect. The only quantified indication I can find in today's statement is:
'In total the Group originated £49.7m of asset, business loan and vehicles transactions in the year to 31 May 2016. On an annualised basis, including a full year for the acquired companies, this equates at present to an approximate run-rate of £70m.'
Growth of 40% would be welcome indeed.
One senses that the board is itching to make further acquisitions. If they are to be funded by share issues, personally I would prefer they didn't, at least until the share price has entered territory decisively above the level of the last placings.
The increased dividend is welcome.|
|The outlook statement certainly feels very positive and gives confidence....
Demand for finance from SMEs, whether it is for their business-critical assets, vehicles or general purpose loans, continues to be strong, irrespective of current economic uncertainties. The Board therefore sees opportunities for further organic growth, both from cross-selling its products into its existing customer base, which now amounts to over 9,500 live accounts, and from new business origination. There are also opportunities for further strategic growth from new product introductions and value enhancing acquisitions. The new financial year has started well, being in line with management's expectations, and your Board looks forward with confidence to the continued success of the business.|
|Well, they couldn't have been much better!
Glad I topped up prior.
They are now trading on a p/e of only about 11 which is very low for a company growing at this rate.
Hopefully they can retest previous highs and climb back to the low 80s.|