Martinco Share Discussion Threads

[nigthepig] 09/9/2015 13:36

Oops that should say 'good luck bamboo2'. Damn predictive text.

[nigthepig] 09/9/2015 13:34

Excellent results, can't really understand anyone selling at the moment. But a profit banked is always worthwhile. Could look Bamboo2.

[pyemckay] 09/9/2015 11:17

forget the gap, the results are excellent based on its core business.

[bamboo2] 09/9/2015 10:28

Sold out below target. Don't like the look of the opening gap.

[bamboo2] 09/9/2015 07:13

09 September 2015

MARTINCO PLC

("Martin & Co", the "Company" or the "Group")

Interim Results for the six months ended 30 June 2015

Record revenue up 48% with successful integration of the "Xperience" brands and continued development of estate agency and lettings

MartinCo Plc, one of the UK's largest property franchises, today announces its interim results for the period ended 30 June 2015.

FINANCIAL HIGHLIGHTS

-- Revenue increased by 48% to GBP3.4m (H1 2014: GBP2.3m)

-- Management Service Fees (royalties) increased by 61% to GBP2.9m (H1 2014: GBP1.8m)

-- Gross profit increased by 53% to GBP3.2m (H1 2014: GBP2.1m)

-- Operating profit increased by 66% to GBP1.3m (H1 2014: GBP0.8m) before exceptional reorganisation costs of GBP0.1m following the acquisition of "Xperience"

-- Operating margin of 38% (H1 2014: 34%) before exceptional items

-- Strong balance sheet with a cash position of GBP3.8m at 30 June 2015 (H1 2014: GBP5.5m)

-- Earnings per share increased by 45% to 4.2p per share (H1 2014: 2.9p)

-- Interim dividend increased by 38% to 1.8p per share (H1 2014: 1.3p)

OPERATIONAL HIGHLIGHTS

-- 284 trading offices (H1 2014: 193), 239 franchisees, no company owned offices

-- 253 offices offering Estate Agency service (H1 2014: 145)

-- 44,000 tenanted managed properties (H1 2014: 31,000)

-- 7 new franchisees recruited (H1 2014: 12)

-- 5 new offices opened (H1 2014: 3), further 7 offices preparing to open (H1 2014: 3)

-- 6 portfolio acquisitions by franchisees, adding 519 tenanted managed properties

Ian Wilson, CEO commented:

"Our strategy of developing "The Property Franchise Group" by acquiring other property franchisors has delivered a very good set of numbers in the first half-year after our acquisition of "Xperience". We have seen a strong increase in Group revenue and an even stronger increase in Group operating profits.

"We have substantially completed the integration of the "Xperience" divisional functions into our Head Office in Bournemouth, and we believe that there is scope for further operational gearing if the right target presented itself. We have cash on the balance sheet, unused debt facility and evidence that we can execute and consolidate the acquisition of another franchisor successfully.

"We will be increasing our focus in the second half-year on franchise sales activity, as we believe that each of our five brands is capable of further development through a mix of franchisee recruitment, encouragement for existing franchisees to expand, and the conversion of competitors to a franchise model.

"The track record of our letting business is that it has traditionally performed more strongly in the second half of the year and this trading pattern is expected in our estate agency business for 2015. The slower start to estate agency transactions in 2015 compared to 2014 appears to be reversing and the value of our transactions exchanged at GBP6.6m was 21% higher in June 2015 than it was in the previous year.

"We are pleased to announce an interim dividend of 1.8p representing a 38% year on year increase and it confirms our commitment to a progressive dividend policy."

[bamboo2] 08/9/2015 08:58

Willco1980, if you are still around, could you put the charts in the header? tia

[bamboo2] 08/9/2015 08:40

Chart from weekend, pattern confirmed at yeaterdays close. Bought in. Target approx 183.

[oshy92] 13/4/2015 10:53

New TV interview with CEO - more a general overview of the business in less than 5 minutes. Any feedback welcome

www.fmp-tv.co.uk/companies/martinco

[mrx9000] 31/3/2015 12:45

Yep, decent results in my opinion. They are very much off the radar and are potentially a takeover candidate for one of the 2 bigger agencies. I should think that the price would have to be right for the Martin family to sell though.

[nigthepig] 31/3/2015 12:00

Thanks for that oshy.

[oshy92] 31/3/2015 09:52

TV interview with CEO Ian Wilson following this morning's results

hxxp://www.fmp-tv.co.uk/companies/martinco

[oshy92] 31/3/2015 09:51

MartinCo - decent results out today. Dividend announce. 2 minute TV interview with CEO Ian Wilson

[coolen] 28/2/2015 21:54

Successful cost-savings on latest acquisition, I hear,

[nigthepig] 24/2/2015 18:26

This has been rising quietly and steadily since early February. Long may it continue. Doesn't seem to be on many peoples radar.

[mrx9000] 22/1/2015 22:16

PLUS POINTS
- Decent Operating margins
- No debt
- Decent acquisition last October
- Forecast to pay a dividend of around 4% for 2015
- Decent institionals already aboard
- Growing EPS year on year
- Off the radar and a quiet board
- PEG of 0.21
- Good piotroski score of 7
- I like the statement "One objective of the IPO in December 2013 was to raise funds to acquire portfolios of tenanted, managed properties. The Directors' goal of 40,000 managed properties by the end of 2015 has been exceeded within 11 months of the IPO."

NEGATIVE POINTS
- As I said above Martin holds 38%, his Mrs holds 12% and Wilson holds 3%. This amounts to a controlling stake.

[mrx9000] 22/1/2015 13:11

I like to see a director with a decent stake in a company, however Martin has a 38% stake and I assume his wife is Kathryn Martin has a 12% stake, bringing it to 50%. The CEO has 3% and could easily sell this to Martin and hence would have a controlling stake, which is something I don't like to see, as generally it is not in the shareholders best interests.

The investment guru Slater used to reference the fact that it was good to see director with the owners eye but not with a controlling stake. Just my opinion.

Certainly a quiet board though and certainly under the radar. I like what I see. Will post a full summary shortly.

[nigthepig] 31/10/2014 17:09

Peter27 - nice to see someone else popping in here. Yes, this announcement will hopefully be the start of an upward trend.

[peter27] 31/10/2014 12:34

Transformational announcement today!

[nigthepig] 21/8/2014 12:24

Wow, that's a rarity here - a trade.

[willco1980] 13/1/2014 10:18

Thanks, and to you. I didn't have any problem getting a similar number around the £1.30 mark with HL. The EMS is only 600 so might take a few trades to get rid of them all electronically, buy I'm happy to worry about that when the time comes.

[modform] 11/1/2014 13:58

I struggled to buy 3k worth of shares, as I couldn't get any electronic price quote, I tried for 2 days and 20 attempts. So I included that I ever want to take profit, I may struggle to sell. Looks like a good company and cash generative. Good luck if you gor in

[willco1980] 09/1/2014 20:31

This share seems to be pretty overlooked at the moment. Was good to see Diverse Income Trust (DIVI) buying, but I can't find any figures for an expected dividend. Any ideas?

[ostra] 21/6/2001 19:32

Paul Kavanagh tipped them a few weeks ago. Got em at 263 as a long term ISA investment and sold today at around 50% proift. Why can't my deliberate short term trades be like that

[llucky] 21/6/2001 19:04

looking back at trades and volumes there was loads of buying, someone knew and made loads...