MRL

Marlowe Plc

544.00
24.00 (4.62%)
Share Name Share Symbol Market Type Share ISIN Share Description
Marlowe Plc LSE:MRL London Ordinary Share GB00BD8SLV43 ORD 50P
  Price Change % Change Share Price Shares Traded Last Trade
  24.00 4.62% 544.00 94,128 16:35:08
Bid Price Offer Price High Price Low Price Open Price
536.00 540.00 539.00 516.00 516.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Investors, Nec 315.90 0.70 0.70 520.00 521.70
Last Trade Time Trade Type Trade Size Trade Price Currency
16:38:13 O 14,500 535.7931 GBX

Marlowe (MRL) Latest News

Marlowe (MRL) Discussions and Chat

Marlowe Forums and Chat

Date Time Title Posts
31/3/202319:09Marlowe, a leading specialist compliance services group124
04/10/202010:20everyone MUST READ!106
10/9/200810:13Medoro with Charts & News33
20/7/200715:58 Medoro Resources > recovery thread1,945
18/4/200708:19are the shares ever going to go fucking up225

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Marlowe (MRL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
15:38:14535.7914,50077,690.00O
15:37:54544.001,5008,160.00O
15:35:08544.001,8219,906.24UT
15:29:58539.96316.20O
15:27:06538.002771,490.26O

Marlowe (MRL) Top Chat Posts

Top Posts
Posted at 23/2/2023 16:53 by dr biotech
Well you can always use your retrospective broker to sell at higher price as you did above.
Posted at 11/1/2023 16:25 by dr biotech
I have c4000 here - its one of my largest positions. Bought 2k at 455 before xmas - timing could have been better. Only have one other larger individual holding, plus a few funds and trusts that are bigger. But I doubt its enough to shift the needle. I did once have to sell a share in two lots as it was bigger than the NMS but that was still a modest amount

FWIW my lowest value share is OXB which I've held for 20 years and is worth about £250. Cost me about £2000. I keep them as a reminder that patience in often not rewarded and not to get emotionally attached to a company.

Posted at 30/12/2022 09:10 by masurenguy
The word on the street about Marlowe’s gyrating share price

Almost exactly a year ago the shares hit £10, valuing the group at £1 billion..........By the time of its half-year results last month, the stock had fallen by 30% to 700p......By the middle of this month Marlowe had lost a further 45% prompting comment that with the shares at 400p, that may restrict its ability to raise money on the stock market......then the shares went pop, putting on 25% in a week to go back above 500p. Yesterday they lost 31p, falling 6.1%, to 473p. Word is that the volatility is being caused by marginal buying and selling by retail punters.

Complete article::https://www.thetimes.co.uk/article/the-word-on-the-street-about-marlowe-s-gyrating-share-price-5rp83pbr2

Posted at 06/12/2022 08:10 by masurenguy
Some interesting points about the recent interims and the subsequent negative market reaction from Insider Ideas have brought Marlowe back onto my radar screen following some substantial share sales by Dacre and Skinner @690p in March last year. I subsequently sold out at just over 800p some 15 months ago. The current price of circa 475p is back to the fund raising levels of 475p in July 2018 and 478p in June 2020 and is also 13% below the last fund raising @547p in October 2020. At this level it is looking like an interesting proposition once again and therefore it's now back onto my watchlist. The main negative issues are debt and cashflow, which need to be addressed in this inflationary climate.

* Market cap £480m@ 490p, net debt @ Sep 22 £155m, EV £635m.

* Marlowe’s compliance service related revenue streams seem to be highly predictable and should remain secure throughout the economic cycle. Revenues are enjoying high single digit organic growth rates thanks to volume growth, pricing power, and cross-selling efforts between its various offerings.

* The management and BoD are heavily invested in the equity and seem to be of high quality/integrity.

* On 23 November 2022 the company reported interim results and the stock traded down heavily in the subsequent trading days. Broker reactions to results are mostly positive although some brokers have downgraded forecasts slightly to reflect rising cost of floating debt outstanding, and/or commented on the need for cash conversion to pick up in H2.

* The stock now sits on a current run rate multiple of 7.7x EV/adj EBITDA using Marlowe’s adjustments, or 6.4x using Marlowe’s £100m fwd adj EBITDA number that it said on 23 November will be reached “materially ahead of the original end of FY '24 goal”. Given the stability and economic robustness of the growing revenue streams, this valuation seems worthy of consideration.

* Management have just bought shares following the recent price drop. The management and board have a strong vested interest in the company’s equity, which aligns their incentives with the rest of the shareholders. Even after much dilution through share issuance for acquisitions, Alex Dacre still owns c5% of Marlowe today. Lord Ashcroft retains a 12.4% holding and seems to have sold little or no shares since Marlowe’s founding.

* Management also have quite a significant performance incentive scheme, the 2021 Executive Incentive Programme (EIP), which will pay out to certain directors 10% of the total shareholder return above a 10% hurdle rate over a five year period from Mar 2021, using the March 2021 placing price as reference. Alex Dacre has a 56.5% share of the incentive pool, the new CFO Adam Councell has a 18% share, and ‘other directors’ have 25.5%. This implies that Alex Dacre must get the share price above £11 (almost double current price) before he or fellow directors start receiving any value from the EIP. Furthermore, in order to agree the EIP with the board, Alex Dacre and other participating directors had to commit to below-market salaries and forfeit annual bonuses for the 5 year period. The management were willing to sacrifice annual security and short term gains in exchange for greater leverage to long term upside, in a manner that makes them more aligned with other shareholders.

* Cash flow and cash conversion was a disappointment in the H1 results. There is now significant pressure on H2 results to show an improvement in cash flow conversion of profits.

* The company is split into two main divisions - Governance Risk & Compliance (GRC) and Testing, Inspection and Certification (TIC). The company’s early years were mostly focused on growing scale within TIC, which is composed of fire safety and water & air safety compliance services. In more recent years the balance of growth has shifted towards GRC, which is composed of health/safety, employment law/HR compliance, occupational health, and compliance software.

* The nature of these businesses should mean that revenues are able to grow organically even through a recession, as customers need to continue paying for compliance services if they want to be open for business at all - the vast majority of Marlowe’s services are not a discretionary spend for its customers that can be turned down when business is weak.

Posted at 30/11/2022 08:47 by gripfit
I nearly bought these at £2.50 3 years ago .. I might actually get them at that price , if they carry on falling ..
Posted at 24/11/2022 14:54 by dr biotech
The cenkos note is fairly positive, revenue revised up, although margin and PBT revised down 10%. Does say price has already come down this year on sentient.
Posted at 23/11/2022 16:05 by dr biotech
Seems it’s mostly downgrades..



Marlowe shares tumbled by 13 per cent on Wednesday after brokers downgraded their earnings per share outlook for the group due to the impact of rising interest rates on servicing its debts.

The Bank of England has hiked the UK's base rate… made it more expensive to borrow money, which Marlowe has done in order to fund its extensive spree of acquisitions.

Since being founded seven years ago, Marlowe has expanded by buying dozens of companies, including £44million during the current year on ten firms, such as Northampton-based TP Health.

'We use acquisition as a tool to deepen our presence in our current compliance verticals and broaden into new ones,' the business remarked.

'Marlowe is set up favourably to source deals, complete in-house due-diligence and execute on attractive multiples with large dedicated corporate development, strategy and integration planning teams.'

Posted at 10/11/2022 11:42 by prokartace
Inferno, an interesting point about the debt levels The market is very sensitive about debt levels currently because of the rising burden of carrying it. I have been eyeing a purchase of the share but would like to know a little more about the structure of that debt before I do so
Posted at 09/11/2022 22:59 by 1nf3rn0
I'd normally look to top up around this level, but will hold off now till the half year results are out in a couple of weeks - for a bit more clarity, and quite probably a lower price the way things are going.
Posted at 14/9/2022 10:16 by 1nf3rn0
Another positive update today which should put a floor under the share price."Outlook and progress towards medium term targetsThe Group's run-rate revenues and adjusted EBITDA have grown to over GBP450m and GBP79m respectively. We remain confident of achieving our run-rate targets of GBP500m of revenues and GBP100m of adjusted EBITDA materially ahead of the end of FY24, as originally targeted, as we continue to build our positions across the highly attractive and resilient compliance markets that we occupy.The strong and increasing margins in our business, and its low capital intensity, makes our business highly cash generative and we continue to expect to generate at least 90% cash conversion per annum. This enables us to fund increasing organic investment in our business, as well as fund further bolt-on acquisitions."
Marlowe share price data is direct from the London Stock Exchange
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