1pm Share Discussion Threads

[shanklin] 20/5/2013 08:49

Looking good here. Annoyed with myself for not adding first thing on Friday when 5m were available inside the spread. At least I had some already.

[eeza] 20/5/2013 08:47

Joined you with 678618 @ 0.16. Offer moved up immediately to 0.17.

[interceptor2] 20/5/2013 08:27

The best estimate is from WH Ireland below, the PBT figure is from 3 may, but they aren't currently showing the EPS figure. So the EPS figures below are from their estimates in March.

2013, PBT = £0.60m and EPS = 0.153p
2014, PBT = £0.80m and EPS = 0.191p

SP target = 0.2p

Article from WHI SPY below...



ic2...

[the oak tree] 20/5/2013 08:16

Ok thats me in. Tiny market size. Could only get £15k and had to pay 0.17 with one mm offering at 0.18.

Finance companies like this can grow quite fast given demand for their products. Like the process of them getting more money to fund their growth, although I worry a little if they might (stock) fund raise. At least it will be for the right reasons.

I remember Albermarle and Bond doing well after the credit crunch as they took the place of a Bank for many people. There is alot of competition now though in that particular sector.

Anyone any idea what the current forecast is? Albeit they say they will beat market expectations significantly.

Thanks again for the heads up.

[the oak tree] 19/5/2013 19:55

Thanks to the usual suspects for the heads up from the Zulu thread :)

Like the sector as can see traditional banks not lending as much as they have before. Was worried about bad debts as this can be a problem for fast growing finance companies but can see on the positive:
* their average lease is just £7500 (£7600 in 2012)
* their largest lease is just 0.54% of their overall loan book
* they lease on a recognised asset which they own till amount paid off.

Good timing with results out soon....

[saucepan] 19/5/2013 19:17

Jakleeds: fair point; yes, for sure. However,at that time the Company was loss making, so I don't see it as being beyond the realms of possibility for the share price of a growing,profitable, company to get back to that kind of level.

[jakleeds] 19/5/2013 17:46

Saucepan, they've had a number of placings since 2006 so there are far more shares in issue now.

[saucepan] 19/5/2013 13:50

I hope the following achieved actuals and forecasts are of interest, including when presented graphically. OPM looks like a 'Zulu' in the making (I shall post on the Zulu thread, too, in case friends there are interested).



2014 forecast P/E is a mere 8.0 and PEG 0.3.

The share price was 0.29p last July. With Friday's breakout, and bearing in mind the growth pattern, it seems odds on to me for that level to be revisited. That is over 90% gain from current levels. There are no guarantees, of course.

Perhaps even more excitingly, and speculatively, the share price was 2.9p in 2006: a 1,900% gain from current levels if the share price got back to those heights.

[jamielein] 19/5/2013 12:22

If so, and the growth continues to be strong, I can easily see these double within a short space of time.

My only negative is that I have to think harder about how many zeros there are than if the shares were 15p and EPS 0.8p. They need to do a 100 to 1 consolidation to make my life easier!

[cfro] 19/5/2013 11:44

With the half year results coming in strong producing PBT some 55% higher and eps 50% higher than the comparable first half of the year before, and the co releasing a 'significantly ahead' statement back in January, we know that the full year results to the end of May will show significant progress.

0.008p eps was achieved for the half yearly, so by reckoning i wouldnt be surprised to see a total eps of 0.02p for the full year. If so that would make the historic pe of somewhere around seven to eight.

[jamielein] 17/5/2013 21:38

ghf, I bought some the day after you'd responded to my question. Thanks by the way.

Was tempted to increase today but will wait for results.

Glad to see familiar faces (or usernames) here.

[saucepan] 17/5/2013 19:54

Thanks, GHF. Nice to be in such good company, in what looks like such a good Company! And a breakout to boot.

[interceptor2] 17/5/2013 17:50

OK OK, I will take the third bar stool, I did buy in yesterday and doubled up today, just in the nick of time it seems.

Thanks CFRO for highlighting these, how did we all miss that bullish interim statement in January?

GHF, You must be psychic!! Good to see you here already....

ic2...

[glasshalfull] 17/5/2013 17:01

Welcome cfro, saucepan ... & ic2 ???

;-)

Glad you like the look of the company & as I discussed in a few posts above, they look great value.

Regards,
GHF

[saucepan] 17/5/2013 16:21

Hi folks. cfro drew this to my attention. I could not resist joining, too :-)

Big thanks, cfro.

[cfro] 17/5/2013 15:22

Bought in today. Thanks GHF for highlighting this excellent company.

BTW pull two more bar-stools up as there are two more investors about to walk in the door. :-)

[cheshire man] 17/5/2013 11:23

Agree griz,,,,,,,got in a couple of weeks ago when I came across this

(21/01/2013) ceo - "...the board now expects 1pm's profit before tax for the year ending 31 May 2013 to be significantly ahead of current market expectations"

[grlz] 17/5/2013 11:18

Surprise increase in facilities - looks like OPM's funders have growing confidence in OPM's business model.

Shares look undervalued based on this vote of confidence from funders.

[glasshalfull] 12/5/2013 17:05

Hi jamielein,

In answer to your question, "yes". Their loan book is growing fast - rate of loans written is far higher than the rate of lease run offs - & the loan book is anticipated to have grown to £14.5m (by 31/05/13) which is significantly higher than the £13m forecast at the beginning of the year. Business is clearly booming.

The company have managed to obtain increased levels of finance as you'll observe through various RNS during the last year & expectations have been raised considerable from £360k PBT (March 2012) to £644k PBT (Jan 2013) following release of their interims and "significantly ahead" statement.

Margins have also been increasing & bad debt provisions have reduced as the company implemented far more stringent procedures.

As for comparison with UFG. It looks good value as I indicated on this thread, a few posts above. I wouldn't compare like-with-like as they offer invoice finance to OPMs asset finance, but it should be noted that UFG bought Ashley Commercial last year and the value attributed to this acquisition equated to a valuation 4 times that of OPM at March 2012, and the OPM shares haven't increased much since then.

Hope that helps.

Regards,
GHF

[jamielein] 12/5/2013 16:29

Done a little research this weekend, and it looks quite promising. One question though, and I think I already know the answer, but couldn't find enough detail in their interim accounts:

Why is the operating cash flow negative every year?
(I'm guessing it's down to the fact that they're growing the business, so they're lending out at a faster rate than they're getting repaid)

Also one for ghf (or anyone else who has a view): How does this compare to UFG? Which do you prefer?

Regards,
Jamie

[glasshalfull] 09/5/2013 23:27

Trade data suggests considerable buying during the last few sessions. Looks like OPM are coming onto a few investors radars.

Year end in a few weeks & hopefully a trading update in due course that confirms that they have maintained the momentum indicated at the interims & another "significantly ahead" statement would be most welcome.

Regards,
GHF

[davidosh] 19/4/2013 23:03

Thank heavens for 1pm...

[holiday6] 12/4/2013 15:34

Interesting - Price quoted as 0.13 - 0.14, but just bought 4m at .1314 and no problem to buy 10m the same way.

[superjane] 09/4/2013 15:25

interesting buzz, me thinks RR is preparing a bid

[glasshalfull] 21/3/2013 20:49

Worth looking at OPM's peer Ultimate Finance Groups (UFG) record results today to get a flavour of market conditions & potential for OPM to leave forecasts behind.



Ultimate Finance Group plc (AIM: UFG), a leading provider of financial solutions to SMEs, is pleased to announce its unaudited Interim Results for the six months ended 31 December 2012.

Financial Highlights

· Adj-Operating Profit* increased 29% to £1,038,000 (H1 2011: £802,000)
o Operating Profit increased 49% to £747,000 (H1 2011: £502,000)
· PBT increased 70% to £560,000 (H1 2011 £329,000)
· Adj-Earnings per share* of 1.19p (H1 2011: 1.06p)
· Basic earnings per share* of 0.73p (H1 2011: 0.47p)
· Interim dividend increased 12.5% to 0.45p per share (H12011: 0.40p)

Jeremy Coombes, Founder & CEO of Ultimate Finance Group plc, commented:

"This is a record first half for Ultimate Finance, which has seen the Group continue to deliver consistent growth, and has performed above management expectations. We believe that our results reflect the quality of our products and services, and our industry-leading reputation."

---

UFG

£17.35m market cap (23.25p)
2013 - 2.7p EPS forecast
PER 8.6
Net Debt £24.6m

---

Regards,
GHF