||EPS - Basic
||Market Cap (m)
Manx Financial Share Discussion Threads
Showing 1001 to 1022 of 1025 messages
|From Growth Company Investor before Christmas
Despite its tiny size, Manx has two high-profile backers in Arron
Banks, who owns 29 per cent, and chairman Jim Mellon, with
17 per cent, whom we might assume are interested in expanding
the scale of the company.
The Isle of Man has never been in recession, making it an
attractive place to do business. It’s also a good source of retail
deposits for Manx’s Conister Bank, which has been operating
since 1935 and is a strong local brand. Manx has also been
building up its local IFA network, but the main growth potential lies
on the mainland.
Manx accesses the UK market via brokers but is beginning to
undertake direct lending. This could well lead to further expansion
in the UK, possibly through acquisition if the right vehicle could be
found. Most lending is secured, with over half the book consisting
of hire purchase loans.
The market cap of £9 million stands at a 30 per cent discount to
shareholders’ funds of £12.8 million, despite Manx earning a posttax
return on equity of 17 per cent last year. Even allowing for
dilution from outstanding convertibles and warrants, the shares
would still trade on a discount to NAV and a historic p/e of 7. n
MANX FINANCIAL Ticker MFX Sector Financial Services Market cap £9m Share price 9p BUY|
|Looks good to me|
|Some news at last!
|Tiger the reasons you mention are why so many AIM companies are delisting. 75% are needed to go private. Whilst this is not the case with MFX there are some leaving.|
|I do think Jim and the BOD need to have regard for shareholders.
The AIM is to create wealth for shareholders and that can include Directors.
It does seem that directors are gaining most ( can I get 7% on my money please ) there is practically no market in the shares. No broker coverage. No information for shareholders. The date of results would be a start!
I feel a long letter to them coming on.
Jim thinks the new shares to be issued will not be be a problem ( source Twitter feed )
I think he has that wrong.
The price today says it all
|Tiger having another bad day !! ;-)
(Too many strange things at this co.
- Jim Mellon
- conv. loans to co. when co. didnt need cash apparently (when the LAW requires equal treatment of ALL shareholders...ie. shouldnt do special deals with dirs)
- numbers for receivables being written off are imho HORRIFIC ! (hopefully not from 'mates')
- commissions as a % are HORRIFIC
All imho....each to own view.|
|indeed, it looks like Manx took the primary risk on early repayments of loans .... and intermediaries pocketed a nice tidy amount whatever .... first double glazing s##thead I mentioned in previous post did try to get me to go for the loan offer and have the big discount by telling me I could repay the loan in full with nominal penalty as soon as the windows had been fitted ... so perhaps Manx got hit by similar sort of thing? that is what I would assume from rns - I could be wrong - it has to be assumed that Manx did do due diligence, risk assessment and statistical analysis - so perhaps they were just unlucky ....
i'm actually not a holder - but it has been on my main watch list for a couple of years - it'll now remain there for a while longer ....|
|Thanks Cougar99 so looks like bankings not just about taking a cut but understanding the terms & conditions. I think with interest rates falling so fast it may have been part of the problem. Maybe Tiger will have more to add.|
|they've seem to have blamed it on terms that they have with intermediaries concerning early redemption of loans .... therefore if situation continues then that loss will continue .... they are trying to lessen it by considering setting up direct arrangements in uk mainland - that is my take on it ...
seems the intermediaries win whatever happens - why am I not surprised ....
I had a double glazing quote earlier this year from one national company - the headline price was about 30% cheaper if you took a loan out via them instead of paying cash ... I ended up going with a different national company where it was same price either way as they didn't get involved as the loan intermediary .... the salesman at first company even got a bit aggressive when I said I had no intention of paying a substantial supplement when paying direct ..... so the intermediaries certainly must get a big take in some transactions - bunch of thieving b@[email protected] ....|
|Are the rising charges one off ? It's an area I don't understand.|
|Gears .........they never announce them but my hope is this week
|Any date for the results?|
|results due soon, no news and a few sellers in the know i presume|
|I THINK figures will be flat at best possibly down a touch on a very strong first half last time.
I still expect close to 2 p eps for full year meaning the shares at 4x are far too cheap.
|Is this worth buying on the figures which must be imminent?|
|Hadn't seen this website before, not linked from mfx site that I could find. It is in the small print of connister bank site.
|Also the competitions paying little so why pay more.|
|Rates are down from 2.5 to 1.75 for a five year period at the bank.
So its, we don't want any more money as we cannot loan it or we have so much coming in we don't need to pay as much for it time?
My money's still on rapid growth.|
|Since I'm a value trader not a momentum trader I'm waiting to see if your thread adds any value!|
|like it M1ke.......any reason you not on my more recently created thread ?
I set it up hoping it may turn the share price at some point ?!|
|Six more employed here
Bit of a pattern here, its called growth.|