Manolete Partners Share Discussion Threads

[21ab] 06/12/2024 18:19

It feels like it’s a gonner to be honest.

No positive significant income - I mean real money as opposed to promises - and no positive significant substantial events.

Listing has served the purpose of providing a lot of OPM for Cooklins personal wealth machine and not much more.

[chrisdgb] 05/12/2024 09:27

not sure it was but the stock is in complete no man's land for a story that should be gaining positive traction.......obviously shouldn't be quoted...

[21ab] 30/11/2024 10:13

I suppose he could sell, but I don’t think that’s what you had in mind.

[chrisdgb] 22/11/2024 09:50

As the largest holder, can Jon Moulton do something about this price.......?

[chester9] 21/11/2024 10:09

He leaves a clue at 47:46 in answer to James E

[chester9] 21/11/2024 10:07

The extra cases cost you staff, rent, marketing, other expenses now. The win payback starts at 15 months to 27 months.

[chester9] 21/11/2024 10:06

Watch investors meet at 41:20. Stephen explains the lag quite well.I understand the figures and cash payback are disappointing but the cash generation from 15 months ago is coming through and will continue to do so as over the next 12 months and onwards as the receivables turn into actual cash.

[74tom] 19/11/2024 13:52

It's the type of company where you don't need to read any of the preamble or KPI's, the only information that matters is contained in the financial statements...

[tightfist] 19/11/2024 11:59

A very frustrating company: the leading promoted metrics have recently been encouraging, but it then gets lost afterwards along the way. I used to think it was overly-complex reporting of a fairly simple business; now I am inclined more towards repeat obfuscation....

[74tom] 19/11/2024 11:01

P&L:

Annualised staff costs ~£4.7m
Annualised finance expenses ~£1.7m
Annualised professional fees ~£800k
Annualised bad debt expense ~£1m
Annualised marketing + other ~£1m

vs annualised gross profit of £8.6m

Running just to move slowly backwards...

Balance Sheet:

Movement of Book Value of the last 4.5 years

FY21 £38.9m
FY22 £42.2m
FY23 £39.1m
FY24 £40.5m
HY25 £40.5m

This shows they are creating very little value, and that the market cap of £44m is still generous considering their net debt position of ~£12m.

I'd also flag that the bad debt expense is consistently over 10% of gross profit. And also that the total bad debt write down since FY21 is now just over £5m.

Woeful.

[grabster] 19/11/2024 09:12

With so much business coming their way, maybe they can risk upping their fees a little for new work?

[riverman77] 19/11/2024 08:45

I would take those 183% returns with a big pinch of salt. Cash returns on cases bears little resemblance to actual profits unfortunately.

[xpertgreeny] 19/11/2024 08:37

Large Canaccord initiation research out today. Buy recommendation, target price 166p.They love the cash. Mano cash lifetime returns 183% versus Burford 90%.

[grabster] 19/11/2024 08:09

tipranks:

"Manolete Partners Plc reported a robust financial performance for the first half of 2024, with a 63% increase in gross cash collected, reaching £14.3 million, and a notable 60% rise in realised revenues to £15 million. The company completed a record number of 137 cases, contributing to strong organic cash generation and reducing net debt by £1.25 million. With a record pipeline of 437 new case investment opportunities, Manolete is poised for continued growth in the insolvency litigation financing sector."

which is very nice but fails to mention slippage into slight loss:

(from RNS)

· Loss Before Tax was (£0.2m) compared to a Profit Before Tax of £0.9m in H1 FY24, due to the above factors together with a lower corporation tax charge being largely offset by higher interest costs.

· Basic earnings per share (0.5) pence (H1 FY24: 1.4 pence).

(enough momentum for that to come good soon?)

[chester9] 12/11/2024 21:29

Update next week. Let's see if they deliver.

[chester9] 12/11/2024 11:14

No but interesting very large company to pick a fight with.

[sallad3] 12/11/2024 09:49

Anyone know why MANO is suing Barclays Bank itself for breach of fiduciary duty?

17 October High Court BL-2024-001527

Problems with the bounce back loans?

[chester9] 01/11/2024 07:14

FT Europe awards Mano as a long term growth champion with compound growth over 10 years and with commitment to sustainable expansion. Mano 25th in Uk and 152 in Europe. The news flow is gathering momentum as is the share price

[chrisdgb] 30/10/2024 14:13

Few buyers now circling.....rally on

[dennisbergkamp] 29/10/2024 20:39

This I am frustrated at - to a lesser degree but need to stay clean

Back to Mano for my next entry 😉

ATB to all

D

[chester9] 29/10/2024 18:36

I agree the change was needed. Sad to see them bending the truth and falling into some of the same greedy mistakes that come with power. It always seems to corrupt. We will know more tomorrow

[dennisbergkamp] 29/10/2024 18:30

Chester, you preferred the self serving,#sortoutamate, sycophants that were and are the remnants of the Tory party / reform substitutes??

We need a root and branch change but how about giving them more than 5 minutes in office before we start skating them

D

[chester9] 29/10/2024 16:53

In a day of gloom Mano held up. Low volume but perhaps people seeing as the government hell bent on bankrupting small business owners, as not working people, there may be plenty of new cases for Mano. Roll on day three of this shambles of a government.

[cockerhoop] 25/10/2024 20:55

No worries BB,Hope it works out bonza for yaG'day x