Manolete Partners Share Discussion Threads

[rmjpb] 13/5/2024 17:21

We didn't get the usual 'investor presentation' after the results this year. All seems very quiet at Mano.

[tightfist] 08/5/2024 08:21

Suggest you read the the Blog in #1492, the underlying business catalysts are well explained...... Shame about the ongoing trading spread

[chrisdgb] 07/5/2024 16:25

Still relatively new here, what do we think are the main catalysts going forwards for the shares..??

[muzmanoz] 02/5/2024 16:25

That's a lot of outrage for something that you seem to have misunderstood.

[sallad3] 02/5/2024 11:40

Today's RNS is a disgrace.

Regulatory rules prohibit Auditors entering into such contracts with clients. Full stop..no ifs ... no buts.


So where was MANO's due diligence? AWOL?

MANO should never have accepted the contract in the first place. MANO's own lawyers are bound by Solicitors Regulation Authority Rules but seem to have ignored them.

Are MANO bound to hand back the deal? Time will tell.

[lazg] 30/4/2024 15:27

I am still massively down, though...

[xpertgreeny] 30/4/2024 09:40

Spotted an article by ALBERTO ALVAREZ a few days ago. "Manolete Partners update: Record Volume of Case Completions."
Quite detailed analysis. Interesting read.

[cockerhoop] 25/4/2024 09:40

Nothing on Research Tree as yet - they do provide CG research to subscribers. Last notes date back to 2020 from Arden & Liberum.

[rmjpb] 25/4/2024 09:24

Canaccord Genuity is the broker and adviser according to a recent RNS

[chrisdgb] 18/4/2024 16:24

Does any broker cover this stock?

[cfro] 18/4/2024 15:54

My own particular investment thesis and reason for investing in MANO was the bounce-back loan opportunity. The market i think, from memory, is deemed to be worth about £8bn..

Although the bounce-back loan opportunity is definitely still there in today's statement they seem to be saying that with a typical size of "only" £50k they are not making much money here therefore they prefer larger cases sizes..

But as an outside investor i have no idea how to judge how large this particular market is to MANO and how consistent it could be to their YoY revenues and profits growth..

Whereas the bounce-back loan opp has two strands:

a) very low hanging fruit to go after

b) potential for rapid growth in a £8bn market if MANO become the preferred go-to insolvency practitioner from all the UK banks.

[sallad3] 18/4/2024 15:51

Cash seems a major concern.

Need to see creditors analysis. How much remains to be handed over to IPs from settled cases.

[amt] 18/4/2024 14:36

Yes but they explain why revenues haven't taken off but look what they booked in March 6m!
If they can annualised that.

[cfro] 18/4/2024 14:23

It's the growth vrs valuation argument for me. I've always expected high growth here and no reason not to expect it. Today we are told that revenues are up 30% but i would have expected a little more if i'm being honest..

At today's valuation we are standing on about 2.5 times sales so if a higher share prices is warranted in the future i would hope for faster revenue growth next year and beyond but question is, is this likely?..

[riverman77] 18/4/2024 09:41

The other issue is cash looking a bit low now - only 1.5m cash and they've drawn 13.75m of the RCF, and the RCF reduced to 17.5m. They've also increased headcount. So not clear how easy it will be to fund all these large cases they're talking about.

[tightfist] 18/4/2024 08:56

It seems to me they have already absorbed the incremental overhead Costs, but IMHO the flow of incremental Revenues is in its infancy - plenty of leading metrics stated.

[riverman77] 18/4/2024 07:58

Still barely profitable despite the supposedly rampant strong growth in new cases. If they can't generate decent profits in this environment then not sure if they ever will.

[xpertgreeny] 18/4/2024 07:40

Disagree NChanning. Net debt (you have to take into account cash as well as RCF draw downs) was £12m at the interims on 30 Sept 23. Net Debt at the year end 31 March 24 is £12.25m. Despite signing a ton of new cases and increasing headcount by around 25%. Looks pretty well managed from where I am sat.

[nchanning] 18/4/2024 07:23

Cash seems a bit tight here , reducing bank facility to 17.5m , with 13.75m already drawn down . Never really trust management to give a straight answer here , claiming this is their choice to reduce bank facility

[amt] 18/4/2024 07:21

They must have heard you

Looks very good to me but quite complex.
It shows they could double turnover in the next couple of years though.

[ramnik007] 18/4/2024 07:15

RNS reads well

[jsforum] 16/4/2024 20:47

A pre close Trading update must be due

[pogue] 15/3/2024 11:59

Wrong planet Paul :0) I think you needed to post this on NANO board