 Hi,
I used to be a shareholder here so am familiar with the business model and have kept an eye on this with a view to re-entering a position at some point.
I see revenues and AUM growing - lovely stuff, however expenses growing faster than revenue? Yet Allenby Capital forecast a sudden drop in expenses in their 2024 forecast to bring ALGW to more or less cash flow neutral.
1) Operating expenses grew from £2.4m to £3.8m between 2022 and 2023 - I look at Note 4 in the accounts for an explanation and see 'Other expenses' grew from £1.1m to £2.9m(!) - why? Marketing? This is a huge increase?
Operating expenses are then forecast to drop, markedly, to £2.2m in FY 2024 - how and why?
2) Expenses in managing owned insurance companies rose around £500k between 2022 and 2023 - ok, they are a larger business with greater AUM following aquisitions, makes sense. 2024 this is forecast to grow another £600k, slightly above revenue growth - suggesting there is no/negative margin made on this business? Cannot be right?
Can anyone help explain, or point me to where I can understand what is going on with the financials?
I understand they get c0.5% management charge on funds managed(?), so revenue is relatively easy to forecast should they hit growth targets, but expenses are all over the place - how can you therefore try to forecast profitability, and ultimately value?
Thanks! |
Qsmelly456, do you have a psychological issue that makes you post every day regardless of the relevance |
Can c this tracking back to 1.6 on that shameful RNS, jeez no wonder they need to buy in support they're a proper shambles if that's what they consider an acceptable RNS.
It's no wonder they don't do many......they're terrible at it 🫨 |
🩳r sells u🐘 |
its showing as a sell |
exactly. i have never seen such a rns .... |
Just added 79k to the 🩳 at 21175.
It's all 🐂💩 weasel words.
No figures quoted on performance savings turnover etc
No guarantees of any more dilution.
Same old same old Gob💩🫨;🛩💥🎄🌳27796;🌲 |
Kaos3, wgat exactly DOES this? |
A suggestion of further acquisitions and continued positive momentum
Gla |
what exactly this purchase brings to the table..... |
It's in the RNS |
Early buys news coming ......more leaks than TW 🫨 |
What 🐓 sells just 7 🐘🫏 |
Another decent 250k 🩳🤣 |
Wow a 257 share buy and a 300 sale🤣 |
Interesting that AMIGO are exploring the option of moving into wealth management for high net worth individuals. Check the share price of late. |
500k 🩳🤣 |
Cevodniya
Go on be a sort and have another nibble 🤣 |
From LSE
Firstly this guys been in it for 6 years so not a smart invester🤣
Secondly any Vehicle will have already been financed to acquire. So refinancing is only possible if the asset has shot up in value. To raise 1.3 bil that would mean 1000s% and that's not happening.
So how does £7.4m buy $1300m.....it doesn't 🫨
......."No need for a placing to purchase an acquisition as they will refinance an existing vehicle. Patience is the key, obviously the guys are working hard to achieve the end result & I think the results will start to become visible soon. When it moves, it moves fast. Not ramping but my point of view, I've been here 6 years & am expecting results soon." |
It's all in the broker notes and the financial accounts. |
How else can they make money without placings. Acquisitions are needed here |
And down this goes🤣 with lots of decent 🩳🩳129768; sells
jambam
27 Aug '24 - 16:24 - 5972 of 5994 0 0 0 To hit their 2025 target they will have to make some big acquisitions which will need a lot more than the cash they have. My bet is a large placing coming around 1.4 |
Tell me about it...Still if hypocrisy is my greatest crime I can live with that. |
And down it goes 🤣 |