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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Afh Financial Group Plc | AFHP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 475.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 475.00 | 475.00 |
| Top Posts |
|---|
Posted at 19/1/2021 11:12 by quepassa Very robust full year figures.Although AUM flat yoy at £6.2billion to October, my personal guess is that AUM are plus 10-20% by now due to favourable December/January market movements. Positive and encouraging to see:- 1. Dividend maintained at 6p 2. Increased EBITDA and increased Revenues at £77million (vs £74m) despite the difficult market 3. Major Reduction in Contingent Consideration on Past Acquisitions from £38m to £19m. -And expected to decrease further in H1 20/21 to less than £10m. 4.Strong cash position of £13m and much strengthened Balance Sheet. Confident outlook and much comment in the press about AFH returning, after a pause in 19/20, to the acquisition trail. All looks very positive, encouraging and upbeat. ALL IMO. DYOR. QP |
Posted at 05/10/2020 15:32 by quepassa UK household saving has gone through the roof since March and now NS&I are dropping interest rates on their Income Bonds from 1.15% to effectively zero (0.01%) in late November. Building societies will follow their lead and also savage interest rates on deposits.I just have to believe that the mass affluent and mid-market well-off will increasingly need the services of wealth managers to cope with increased savings at a time of near zero cash returns. If AFHP now prioritise their digital marketing focus as detailed in their recent Trading Update, they should be very well-placed to capture market-share in a ballooning and febrile market in need of wealth management services. ALL IMO. DYOR. QP |
Posted at 07/8/2020 09:47 by quepassa Strong figures today and buoyant outlook from stockbroker/wealth manager Hargreaves Lansdown.Positive cross-sector feedback. All points to individuals saving more and investing more at a time when interest rates are de minimis and when many individuals have had more time to address their personal financial planning and affairs. Bodes well for the sector. Bodes well for AFHP. ALL IMO. DYOR. QP |
Posted at 02/4/2020 13:11 by rivaldo I did sell this morning, for better or worse.I really didn't like that Money Marketing article (thx topriser). Particularly the "significantly" reducing recurring income and this paragraph: "“Our recurring income linked to investments has already reduced significantly and we believe that wealth management new business will decline or cease after tax year end,” Hudson wrote." My sales were accepted without a price fall at first, but now the price seems to be falling. I note that AFHP haven't yet issued a Covid-19 update, so if that article is anything to go by it won't read well. Good luck to holders. |
Posted at 31/3/2020 15:06 by rivaldo Everyone in the sector (in fact most sectors!) are in the same boat - it's hardly the first sign of trouble! It's all very well saying they'll be off, but where will they go? Other firms will be in the same postion - and will likely be less successful than AFHP.Especially considering its excellent track record, including as regards integration of acquisitions in general. And it's already been established that AFHP are a much safer option than others in the sector, given the higher proportion of AFHP's revenues arising from initial advice fees and Protection Broking, which are unrelated to market movements. |
Posted at 20/3/2020 11:28 by quepassa Indeed. Fully concur....Amidst the corona crisis, chaos and mayhem, AFHP's words and statement at the recent 6/3 AGM are perhaps neither be forgotten, nor underestimated :- "Following a period of consolidation and whilst continuing to focus on cash generation and the organic growth of the business, the Group remains open to executing further acquisitions should suitable opportunities present themselves, with a focus on smaller IFAs and larger businesses where the majority of advisers are employed or equity participants in the target company." "AND LARGER BUSINESSES" the current market sell-off may present certain compelling opportunities to AFHP sooner rather than later. and AFHP continue:- "The success of 2019 has continued into the first four months of this financial year with revenues and fund inflows recorded at Q4 2019 levels. We expect the growing requirement for professional financial planning to accelerate in the future and for the consolidation within the sector to continue as commercial factors and regulatory requirements encourage a smaller number of larger businesses to dominate the sector." " A SMALLER NUMBER OF LARGER BUSINESSES TO DOMINATE THE SECTOR". It is quite clear which category ambitious AFHP want to be in. Bottom-fishing yesterday has already yielded some spectacular returns amidst the market chaos hitherto driven by fear and shorters. ALL IMO. DYOR. QP |
Posted at 11/3/2020 11:03 by rivaldo Liberum have reiterated their 569p target price. And they state that AFHP are the least affected by falls in equity markets of any of the stocks in their asset-linked coverage.This is because of the higher proportion of revenues in AFHP arising from initial advice fees and Protection Broking, which are unrelated to market movements. They note that a 10% fall in equities would only results in a 5% fall in AFHP's EPS. So at present the impact to AFHP should be only a maximum 10% - and that's only if the fall remains in place for a full year. This year's EPS 33p EPS forecast to 31st October should therefore fall only to 31p EPS or so - if the current decline continues for the rest of the period. The forecast for the year starting this November remains at 37.1p EPS. And AFHP are still trading at a huge discount to other listed financial advisers - they trade at an average P/E of 17.2 compared to AFHP's 9.9 (and wealth managers trade on a P/E of 12.6). |
Posted at 13/2/2020 15:03 by quepassa Dex,It would appear, au contraire, that the AFH model works very well indeed - and this is perhaps why St. Jimmy's may or may not be starting to emulate AFHP's approach and considering MAKING AN ACQUISITION according to attached article. The following fascinating and detailed article in MoneyMarketing gives details. - Money Marketing contacted St. Jimmy's about it and "SJP declined to comment". hXXps://www.moneymar You will also note that the article gives a link to another article on St. James headed "SJP acquisition in Ireland falls through". More than one target. It would appear that your assertion that : "SJP grows organically with advisers bringing their own clients to SJP - rather than SJP buying/owning those clients. ..." is not the whole story and that SJP is itself perhaps an evolving story with an evolving strategy. It may also be that St. Jimmy's recognises the growing competition from the new breed of wealth-manager where AFHP is at the forefont. The 5yr share price comparison between St. James and AFH tells the story. The SJP share price has risen from 900p to 1200p , being +33%. Whereas AFHP has gone from 150p to 420p, being + 180%. It appears to me that the historic business model of St. Jimmy's is out-dated and that it is AFHP with a new approach to wealth management which is leading the way and experiencing dramatic growth as a result. ALL IMO. DYOR. QP |
Posted at 07/2/2020 07:27 by rivaldo Tipped overnight on Master Investor...."AFH Financial is going for growth By Mark Watson-Mitchell 06 February 2020 Now with over £6.2bn assets under management, this group is aiming for £10bn, writes Mark Watson-Mitchell. Established way back in 1990, this company, which joined AIM in 2014, has grown significantly, especially over the last few years as it tucked more companies into its fold. The company announced its end-October 2019 final results a couple of weeks ago, they reported the sixth consecutive year of strong revenue and earnings growth since it came to the market. Today the Bromsgrove, West Midlands based group AFH Financial (LON:AFHP) has 12 offices across the UK and counts over 200 independent financial advisers amongst its ranks. It has over £6.2bn of assets under management, having grown 40% in the last financial year alone. The group has three main operating subsidiaries: AFH Wealth Management; AFH Private Wealth; and Eunisure. AFH Wealth Management’s IFAs provide financial planning-led wealth management advice and a variety of services to the UK’s high net worth private client market. They also act for a number of corporates. It is this division that handles the £6.2bn AuM. AFH Private Wealth is possibly more exclusive in its services, in so much as it appoints personal dedicated client executives to handle special wealth management support and advice for the group’s more discerning investor clients. Eunisure has a network of more than 300 protection advisers across the UK. Health, lifestyle and income – this company provides its clients with affordable insurance solutions to cover what they need to value and protect. The group has some 42.8m shares in issue, of which 13.2m are held by boss Alan Hudson and his board. Large holders include Slater Investments (10.65%), Lombard Odier (6.34%), Northern Trust (5.09%), Merian Global Investors (4.99%), BMO Global (3.96%), Polar Capital (3.83%), and Rorema Beheer (3.70%). The policy of growth by both organic expansion and strategic acquisition is very evident when you look at the group’s revenue and profit record over the last three years. From sales of £33.6m in 2017, to £50.6m in 2018 and up to £74.3m for the year to end-October 2019. Operating profits in that period rose from £3.73m in 2017 to £7.94m in 2018 and up to £14.0m last year. The profit after tax was up 82% to £10.8m in 2019, pushing earnings up from 16.0p to 25.4p per share. Conservatively the dividend rose just 33% to 8p per share. Trading in the current year remains strong and the group has plenty of cash to meet requirements. Estimates for net income this year suggest £12.1m and then up to £14.6m next year. The growth continues. The group’s three to five-year strategy is very clear: it aims to have AuM of £10bn producing some £140m of revenues and operating on a 25% underlying EBITDA margin on revenue (last year it was up from 20.6% to 23.2%). Based on its previous record I do believe that all of those targets look totally achievable. Liberum Capital and Shore Capital, joint brokers to the company, both rate the shares as a ‘buy’ and, after the recent results, Liberum has actually raised its sights from 484p to 569p. The whole of the financial sector, especially those companies with funds under management, is seeking strong growth and as such I do feel that AFH could become a predator’s target. And it is valued at only £165m. With its shares currently trading at around the 388p level, they look like a cheap growth stock to me. Cautiously, I now set my end-2020 target price at 480p." |
Posted at 20/1/2020 13:34 by rivaldo It's also worth putting Liberum's latest forecasts on the thread:to 31/10/20 : 32.7p EPS, 10p dividend to 31/10/21 : 36.8p EPS, 11p dividend to 31/10/22 : 40.5p EPS, 13p dividend |
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