Share Name Share Symbol Market Type Share ISIN Share Description
Orchard Funding LSE:ORCH London Ordinary Share GB00BYZFM569 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 103.00p 100.00p 106.00p 103.00p 103.00p 103.00p 1,927 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 4.6 1.6 6.3 16.5 21.01

Orchard Funding Share Discussion Threads

Showing 1 to 14 of 25 messages
Chat Pages: 1
DateSubjectAuthorDiscuss
18/11/2017
07:45
All looks positive here now nearly 18m from the profit warning. Should triple its loan book over the next 3 years. Run by an Intelligent Fanatic. Sensible business strategy. Forecasts look readily achievable and may be beaten as they were in FY17. Looks like they have probably learnt their lesson and are now having cautious forecasts. Market cap only £22m so capacity to add material shareholder value. Book value about 62p so not a frothy valuation. May consider adding more on a pull-back. Only negative is that returns are steady and not stellar with returns on equity only about 10% at this stage. That being said its low risk lending given they have never had a default. Another big positive is that there is virtually no posting on this Billboard! Two other thoughts. The new Chairman looks a real win for Orchard as a background of Secure Trust and Arbuthnot is nice to see, so he is a successful banker. Bodes well. Then a comment on what one of the big 2 has to say on their market... Interestingly this is what Close Brothers say about Premium Finance in their Annual Report. "The Retail Finance loan book grew 8% to £2.7 billion (31 July 2016: £2.5 billion). Premium finance accounted for most of this increase with new broker wins, increasing volumes from existing brokers and premium inflation all contributing to loan book growth of 17% to £0.9 billion (31 July 2016: £0.8 billion). Premium finance continues to be well positioned competitively, benefiting from the multi-year investment programme in its infrastructure aimed at improving both broker and end customer experience."
topvest
19/3/2017
20:37
I think it might be the direct premium finance product from Bexhill. They set it up a few years ago for brokers who wanted a third party rather than an in-house solution.
wjccghcc
18/3/2017
11:56
Good to have some company. Quick question for you - the Direct Insurance segment which is growing massively. Is this the Orchard Lending Club platform or something else?
topvest
16/3/2017
22:06
I just bought a few at 86p. Originally sold them at 105p when it was clear the original targets were a stretch. I use premium financing for my insurance policy and it is a convenient way of doing it, so hopefully these are nimble enough to outgrow the two market leaders.
wjccghcc
16/3/2017
19:23
Is there no interest in this company other than me? Lack of BB activity is normally a good sign.
topvest
15/3/2017
19:17
Lending and loan book up 30% or so. Not quite where they would like to be, no doubt, but picking up as lending book was only up 22% year end. Think this is an exciting little company led by an intelligent fanatic. Multi- bagger potential?
topvest
15/3/2017
19:12
Well a very positive update today. Growing the loan book nicely.
topvest
05/1/2017
17:14
Well a nice step-up today. All quiet here, which is also a good sign!
topvest
26/11/2016
16:39
Keeping a low profile this company. I've doubled-up. Key points, both pro's and cons: 1. Disappointment after last year's profit warning still hanging over the shares. They have binned their advisor and appointed another with more realistic expectations (probably taken the view that it is better to have lower expectations and out-perform rather than making the same mistake again). 2. Think the prospects look good medium term though, so good time to buy on a 2 year view? 3. Stockopedia rank is very low, but its distorted by the cash outflow common to many banking stocks as they grow their debtor book. The score for banking stocks is just not valid. 4. Low risk lender - never, yes never, had a default (or an overdue). 5. Lots of market share to go for as miles behind the two market leaders. Are they a nimbler competitor? 6. Fin tech Orchard Lending Club launch not factored into the rating - could be a winner and seems to have started well and getting traction on deposits which will give them another funding source. 7. Ravi Takhar looks an "intelligent fanatic" - get in early! 8. Company is illiquid and not particularly well owned by institutions. Always good news for multi-bag gains a few years out. 9. July 2017 expectations have been wound right back to 20% growth on the base year. Looks pretty easy to beat given the Q4 lending book was up 22% and sales momentum is only just starting to get going following recent appointments. 10. Downside is that the price is likely to take a year or two to recover fully from the disappointment of not getting anywhere near the original 2016 expectations. 11. Share price is not incredibly cheap at 14 time forward earnings, 3% yield and a 50% premium on net asset value. 12 Finally their margins have dramatically improved given their ability to source lower cost funding. Overall, for me its a potential multi-bagger over 5 years. Could go a little lower in the short term. Reasonable margin of safety as net assets are about 58p (i.e. 35% downside). Well positioned to do well in the medium term. Happy to hold long-term and see how they do. It seems to me that they are quite well positioned to build a £100m business over that time period with steady growth using their conservative funding model.
topvest
12/7/2016
18:44
Yes, disappointing update today. Nevertheless, looks to have good growth prospects when the new business comes on tap. Like the low risk business model. May look to add a few more, but will probably await the year-end results first.
topvest
12/7/2016
09:09
"Yes, H1 numbers nothing to get too excited about, but the business looks a good medium term growth stock to me. Can see it doing very well indeed." lol Q
quidzinn
14/4/2016
20:06
Yes, H1 numbers nothing to get too excited about, but the business looks a good medium term growth stock to me. Can see it doing very well indeed.
topvest
14/4/2016
09:37
Read Panmure's note on Orchard Funding Group (ORCH), out this morning, by visiting hxxps://www.research-tree.com/companies/uk/investment_platforms_%26_services/orchard_funding_group_plc … “Prospects are larger than envisaged and taking longer. No change to numbers implies a significant amount of lending shortly to be deployed. New opportunities also add to the prospects and a banking licence application is now being prepared... The company is expected to achieve an 18% ROE in the year to July 16 and a 29% ROE in the year to July 17. 1.9X book value is considerably below all the peer group… The company has made significant progress in H1 which isn’t evident yet in the numbers. The prospects are larger than originally anticipated and have taken longer to deliver. The valuation fails to reflect the significant growth…”
thomasthetank1
07/3/2016
20:05
I thought that I would start a thread for this niche lender. Came across this recently and thought it looked an interesting proposition. Key attributes are: - a committed CEO who is not overpaid and founded the company; - an IPO that made sense in relation to reducing the funding cost; - 2 in-house subsidiaries - Bexhill and Orchard; - virtually no default risk on insurance fees and professional fees funding; - a large target market; and - in-house systems developed. Looks a nice little company that has been overlooked to date. Couldn't find anything negative to be honest. Taken an initial position. QVM score on Stockopedia is also 86 which is pretty good.
topvest
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