Manolete Partners Share Discussion Threads

[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

[sallad3] 11/3/2024 08:56

dekle. No documents are public on the Court filing system. Have to ask MANO directly.

[dekle] 08/3/2024 11:00

I'd like to know more about suing Taylors if anyone has an insight

[riverman77] 08/3/2024 08:49

Feels like this could drop below a pound. Desperately needs some positive newsflow to revive the share price.

[chrisdgb] 01/3/2024 19:03

Trading update not too long, hopefully should still be a supportive backdrop and share price drifting down….

[chrisdgb] 01/3/2024 14:51

Might be totally wrong but taken debut holding here today.......thoughts welcome.

[sallad3] 27/2/2024 09:41

What is this about?

Mano suing solicitors - who were they acting for?

hxxps://caseboard.io/cases/2b9a992f-890d-42c1-9375-b030801f26fd

[cfro] 31/1/2024 17:36

Insolvency Service prosecutions fall by almost half despite UK Covid fraud

[jsforum] 25/1/2024 19:27

https://www.thesun.co.uk/money/25450605/uk-firms-brink-collapse-interest-rates/