Me Share Discussion Threads

[dr biotech] 28/2/2023 20:51

There's a fair bit of stuff about how they plan to expand, but of course the key thing tomorrow will be trading in the last 4 months, which doesn't get a mention.


Current Market Cap is c490m - PE is about 9. Assuming current trading has been OK it seems good value to me. Using 63m for the forward PE its 7.7 (7.3 if you deduct cash).

[johndoe23] 28/2/2023 20:47

Ahead of consensus maybe. Increase on stockos figures anyway

[wjccghcc] 28/2/2023 20:46

Canaccord forecasts were 301mm revs, EBITDA 95mm and PBT 62mm vs guidance of 280-300mm revs, EBITDA 95-105mm and PBT 61-65mm so pretty much bang in line.

[sundance13] 28/2/2023 20:43

2023 look to be ahead of current forecasts though.

[wjccghcc] 28/2/2023 20:39

That includes the 7.5mm profit on sale of a property. Underlying EBITDA is 84-85mm so in line. Outlook seems in line with Cannacord's forecasts as well.

[tonytyke2] 28/2/2023 20:37

Agreed topvest down to the wire, but does look very positive. They only upgraded year end EBITDA expectations in November to between £82-85m and the final figure is £92.2m.

[typo56] 28/2/2023 20:26

My understand is they had to get it out today or else trading would have been suspended tomorrow - four months from year end (was relaxed to six months during Covid).

[tonytyke2] 28/2/2023 20:26

Headline figures look very strong imo, I thought they gave revised upgraded EBITDA guidelines on the 14/11 of between £82-85m, and they have achieved £92.2. Will continue to read through.

[sundance13] 28/2/2023 20:24

Looks bang in line with revenue forecast but slight miss on net profit & EPS.

[topvest] 28/2/2023 20:21

Link
hxxps://me-group.com/wp-content/uploads/2023/02/ME-Group-Annual-Report-2022.pdf

[topvest] 28/2/2023 20:20

Results published.

Revenue £259.8m, EBITDA £92.2m, PBT £53.4m, Net cash £34m, EPS 10.23p, DPS 12.1p.

Looks a tad lower EPS than raised expectations, possibly due to a £2m higher tax charge.

"For the 2023 financial year, the Board expects the Group to achieve revenue between £280 and £300 million, EBITDA between £95 and £105 million and profit before tax between £61 and 65 million."

All looks quite positive though in the end. Not the way to deliver record results though, that's for sure!

[typo56] 28/2/2023 19:41

My understanding is that if the company fail to make public the annual report within four months of the end of the financial year (31 Oct 2022) then trading in their shares will be suspended. MEGP are sure living on the wire here. The company claims to have "published" the annual report today but has any shareholder set eyes on it?


FCA Handbook
DTR 4.1.3 Publication of annual financial reports
An issuer must make public its annual financial report at the latest four months after the end of each financial year.

This was relaxed during Covid to six months but this temporary relief ended for reporting periods ending on or after 28 June 2022.

[thorpematt] 28/2/2023 19:11

Look, it could be worse. We're lucky they didn't post em on the 29th Feb.

[johndoe23] 28/2/2023 18:35

I guess if results are great this will all be forgotten. However, if not...

[spwh100] 28/2/2023 18:30

Shambolic morons

[disc0dave45] 28/2/2023 18:23

Not exactly an "instant-service" business when it comes to issuing results on time!....I'm assuming it can't go on their website until the market has been notified first via RNS, so they are trying desperately to say they've complied, tut tut, what a farce.

[topvest] 28/2/2023 18:05

Shambolic. A masterclass lesson in how to balls-up your annual results announcement day. To be fair getting their relatively complex annual report audited by 28 Feb is not too bad, particularly with ever slower audits.

Are they bonused on an end of Feb date I wonder? Maybe the CEO is sizing up another bid? I suspect it’s been caused by some last minute adjustments or tweaks and interactions with the auditor. Alternatively there’s the remote possibility of a bid or something else. The fact that the audit is being signed off today is positive I suppose.

[2magpies] 28/2/2023 18:00

Annual Report isn't actually on the site, as yet.

results at 7 a.m., then!

[missmimz] 28/2/2023 17:56

As a result, the Company's Annual Results are now expected to be announced by RNS on 1 March 2023.

[topvest] 28/2/2023 17:00

Very poor communications..sloppy.

[dr biotech] 28/2/2023 16:57

6:30 is the last time to release an RNS.

For the last couple of years reporting dates were relaxed due to covid, hence the later date. Going back through historical figures they did previously release the finals in Dec. Hopefully it’s because they have so much money to add up..

[masurenguy] 28/2/2023 16:54

Todays RNS at 7.00am confirmed that the financial results for last year would be announced today.

[2magpies] 28/2/2023 16:51

Well it will be 28th Feb, until..............midnight! Haha

But, yes, most investors would have expected the announcement, sign-posted only this morning, to have made during trading hours,

Something exceptional could be afoot?