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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Mortgage Advice Bureau (holdings) Plc | MAB1 | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 10.00 | 1.78% | 572.00 | 15:25:43 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 560.00 | 560.00 | 572.00 | 562.00 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 24/09/2024 | Interim | GBP | 0.134 | 03/10/2024 | 04/10/2024 | 01/11/2024 |
| 19/03/2024 | Final | GBP | 0.147 | 25/04/2024 | 26/04/2024 | 29/05/2024 |
| 26/09/2023 | Interim | GBP | 0.134 | 05/10/2023 | 06/10/2023 | 03/11/2023 |
| 28/03/2023 | Final | GBP | 0.147 | 27/04/2023 | 28/04/2023 | 31/05/2023 |
| 27/09/2022 | Interim | GBP | 0.134 | 06/10/2022 | 07/10/2022 | 04/11/2022 |
| 28/03/2022 | Final | GBP | 0.147 | 28/04/2022 | 29/04/2022 | 30/05/2022 |
| 29/07/2021 | Interim | GBP | 0.134 | 30/09/2021 | 01/10/2021 | 29/10/2021 |
| 20/01/2021 | Final | GBP | 0.192 | 29/04/2021 | 30/04/2021 | 28/05/2021 |
| 24/03/2020 | Interim | GBP | 0.064 | 26/11/2020 | 27/11/2020 | 18/12/2020 |
| 24/03/2020 | Interim | GBP | 0.064 | 26/11/2020 | 27/11/2020 | 18/12/2020 |
| 28/01/2020 | Final | GBP | 0.064 | 30/04/2020 | 01/05/2020 | 29/05/2020 |
| Top Posts |
|---|
Posted at 28/9/2024 16:41 by wilmdav "Pure Protection - Market StudyIn August 2024 the FCA announced a market study into the Distribution of Pure Protection Products to Retail Customers. Good customer outcomes have always been, and continue to be, central to MAB's strategy and culture, and we see this as a positive initiative for the market and that clearer governance is complementary and supportive of our objectives as a Group. As with Consumer Duty, we agree with the raising of standards across our sector, and that through raising the bar, in the medium to longer term this only accelerates the need for, and the pace of, market consolidation. We will ensure that MAB continues to be optimally positioned firstly to continue doing the right thing by customers, but also to maximise this market consolidation opportunity." MAB1 H1 24 Interim Report The date on which the study was published suggests that it was responsible for the decline in share price. In which case, the focus would seem to be solely on whether the amount of commission they (and others) have been loading on insurance products has been unfair to clients. The 13% post-results bounce is not yet enough to indicate that analysts were convinced at the meeting on results day (24/09/24) that the price drop was unwarranted. Perhaps the picture will become clearer by the end of next week? |
Posted at 21/9/2024 08:46 by loglorry1 In the FCA document they are investigating this route. We need to be very careful here because if there is legal redress against MAB1 for not making costs crystal clear it could be very significant.Why hasn't the company commented? |
Posted at 20/9/2024 10:07 by 74tom Posting the below comment from Stockopedia as it's relevant for all holders;"The FCA's proposed terms of reference (relevant to Mortgage Advice Bureau (Holdings) (LON:MAB1) and others) is at fca.org.uk/publicati The MAB1 AR23 says on p. 7 that 39% of revenue was from insurance commissions, some of which is presumably MAB1's share of the loaded commissions charged by franchisees." I thought the fall was sentiment / technicals driven, however it looks like something potentially more concerning which in all honesty should have been addressed by the company, instead of letting the share price fall from £8 to £5.70 in the last 3 weeks. |
Posted at 11/9/2024 08:34 by mammyoko Automated trades here trying to push the price down. GLG trying to get back onside with the 0.55% short taken out in July 2023?Feel this has fallen too far here, so was a buyer at the 620p level, looking for a bounce back up to 750p. The property market is reportedly very active at the moment and with interest rates likely to be on a downward trend, the prospects for MAB1 in H2 and into 2025 look pretty good. |
Posted at 23/2/2023 11:24 by 74tom Not so happy now though as that gap has just filled.Probably due to articles like this encouraging shorters to return; And also poor data like this "Residential property transactions came to 77,390 in January on a non-seasonally adjusted basis, says HMRC. This means transactions were 7% lower on an annual basis and, compared to December 2022, marks a 27% drop off. On a seasonally adjusted basis, HMRC calculates there were 96,650 residential transactions in the first month of 2023 – an 11% annual drop and a monthly fall of 3%." A frozen market would be a disaster for MAB1 as revenues would go into reverse and advisor numbers being significantly reduced. Will it happen? |
Posted at 31/1/2023 09:17 by 74tom What's everyone's take on the Fluent Money numbers disclosed today?£22m contribution in the 2022 accounts, the acquisition completed on 12th July but the deal was announced on 28th March, so it's not immediately clear what period this relates to. However, this is what they said in the acquisition announcement last March; "In the year to Mar-22E2, Fluent is expected to generate £38.5m revenue (+45% yoy) and adjusted EBITDA3 of £4.2m (+118% yoy)" The footnote to this comment then says; "2 Current accounting reference date of 31 March for Project Finland Topco Limited will be changed to 31 December post completion. In the financial year ending 2022 outturn based on 11 months actuals" The comment regarding 11 months actuals suggests they agreed to include the financial performance of the last 2 months of FM's 2022 financial year which ended 31/03/22 (companies house), presumably because this reflected the date at which the acquisition was agreed in principal, but legals weren't signed off? If my understanding of this is correct then today's figure of £22m is for 11 months contribution, which based on MAB1's 75% equity ownership suggests the 2022 outturn was £22m / 11 * 12 / 0.75 = £32m, significantly below the £38.5m forecast at the time of acquisition... That would certainly make sense given the disastrous events of Q4. Today's update seems to want readers to think that £22m has been recognised for FM performance since 12th July, which as per the extracts above is patently not the case... if so, it's pretty poor form IMO. |
Posted at 01/12/2022 10:29 by 74tom Still watching here, the problem I have is that they dropped £72m on Fluent Money last March which wiped out their cash balance + put them in a net debt position.Unrestricted Cash at 30/06 was £57.4m, the £72.7m for Fluent went out in July leaving them in a net debt position of £15.3m. The interim dividend of 13.4p was paid in November at a cost of £7.4m and you'd assume that this would wipe out most of the FCF in H2 (H1 FCF was £10.9m). In the current environment I'm not a fan of any company that has recently moved into a net debt position and is paying a material dividend - it simply doesn't make sense. Will wait until the next results to see how they are looking financially, given the outlook statement and prospect of flat YoY performance I don't see this moving materially higher anytime soon. |
Posted at 10/10/2022 13:43 by 74tom I mean the valuation was outrageous, at £14 on a forecast 2022 EPS of 42.1p it was trading on a PE of 33x.I note in their recent interims they reported a 14p EPS for the half to 30/06, given current events in the mortgage market I'd be very surprised if they even match this in H2, so you're looking at 28p for the full year. So at the current 540p it's still trading at a minimum of 20x earnings. That to me is still far too rich if we are facing a prolonged market slow down. I'd say there could still be at least 50% downside from here before MAB1 could be considered fair value. |
Posted at 22/2/2022 18:15 by km18 ...from last year...Mortgage Advice Bureau published its H1 interims earlier this week and they were impressive. Revenues grew 46% versus H1 20 to £92.4m, and they were up 52% versus H1 2019. Statutory profit before tax was up 77% on the year to £10.8m, basic EPS was up 63% to 16.5p. An interim dividend of 13.4p was reinstated. Growth has continued post reporting period as well. Numbers of advisers are up to 1800 and a 49% stake in Evolve FS Ltd, a leading specialist new build mortgage broker has been acquired. The company is delivering solid and very profitable growth – RoE 50% and RoCE 42.5%. Unsurprisingly valuation is not cheap, forward PE ratio at 27 is bottom quartile for the sector. PS ratio is mid-range at around 3.6. Share price is currently in a pull-back, around 20% below early August peak. With valuation where it is and a share price correction underway there is no rush to buy MAB1 just yet. But the business is solid and should be worth owning at some point in the next 6-12 months. Monitor for now.... ...from WealthOracleAM |
Posted at 02/6/2021 15:20 by gsbmba99 Belvoir, MAB1's largest customer, is acquiring the Nottingham Mortgage Services Limited unit from Nottingham Building Society. The Nottingham Building Society is entering into a 10 year agreement with MAB to provide mortgage and protection advice, through Belvoir as an appointed representative of MAB, to its members via its branch network and over the phone. From the finnCap BLV note this morning: "The Nottingham currently has 50,000 18-39-year-old Lifetime ISA savers (which is expected to increase to 100,000 within a few years) the majority of whom are highly likely to need a mortgage for the first time in the future. If these potential new clients convert over a three to five year period (which would likely be from 2024) this could represent a significant increase on the 12,000 mortgages Belvoir arranged in 2020." Sounds like a good outcome for BLV and MAB1. |
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