Orchard Funding Share Discussion Threads

[davidosh] 10/12/2024 17:10

Eps is still 7,39p and the company could easily pay a 3p dividend.

By not paying it the company is less attractive to new investors and the share price remains down in the doldrums so that Ravi can pay as low a price as possible in any tender if there is one.

We should be receiving a fair offer close to the NAV or our investment in the company to help it grow is being stolen from us.

I will also be at the AGM to ask ALL the board a lot of questions.

[konradpuss] 10/12/2024 16:47

Checkers, I think that could be termed 'conspiracy theory'!

Surely Peter err! Ravi would not over provision, then take private and hey presto have a big write back!

[checkers2] 10/12/2024 16:34

I wonder too if these impairments are exagerated, in order to keep the price and expectations down, because otherwise business seems to be good.

[unglove] 10/12/2024 13:56

Nice results. Impairments up by £1m or six fold(!) but likely to be a singular event. With steady increase in business and slow fall in base rates you could extrapolate rather optimistically for next year's results (if still on LSE).

[konradpuss] 10/12/2024 09:10

I think we are all reflecting our 'buy' costs!

Peter will let us know in due course.

[cowie19] 10/12/2024 08:53

Nice numbers, 50.5p would be nice

[muffster] 10/12/2024 08:41

Well Simply Wall Street has fair value of 56p.

[konradpuss] 10/12/2024 08:38

45p in my humble opinion.

[muffster] 10/12/2024 08:23

Tender offer price anyone? Peter...

[muffster] 10/12/2024 08:22

We have previously advised that the Board believes it is in the company's best interest to cease the payment of dividends for the current financial year. I am aware that this will be disappointing, as we have a track record of consistently paying returns to shareholders. However, the capital retained can be used to make, if appropriate, an acceptable tender offer to shareholders in the future and will enable management the strategic flexibility, when appropriate, to deploy funds to support the lending of the business.

[konradpuss] 10/12/2024 07:55

10.00 a.m. 8th.January 2025 AGM.

Would not miss that one. Now where is Luton?

[cwa1] 10/12/2024 07:17

Full Year Results

For the 12 months ended 31 July 2024



Orchard Funding Group PLC, the finance company which specialises in insurance premium finance and the professions funding market, is pleased to announce its audited full year results for the year ended 31 July 2024.





Highlights

· Lending volume is up from £99.87m in 2023 to £114.70m in 2024 (14.85%)

· Loan book (post ECL provision) is up from £58.99m in 2023 to £66.98m in 2024 (13.54%)

· Borrowing is up from £34.72m in 2023 to £40.22m in 2024 (15.84%)

· Gross total income in the period increased by 22.65% to £9.64 million for the 12 months to 31 July 2024 (31 July 2023: £7.86 million)

· Net total income is up from £5.60m in 2023 to £6.89m in 2024 (23.04%)

· Profit after tax fell by 8.19% from £1.71 million (31 July 2023) to £1.57 million

· Operating costs (excluding impairments) are up from £3.30m in 2023 to £3.60m in 2024 (9.09%)

· Expected credit losses and other impairments are up from £0.14m in 2023 to £1.17m in 2024

· Earnings Per Share ("EPS") fell in the period by 7.91% to 7.39p (31 July 2023: 8.03p)

· As reported to the market on 17 May 2024, the directors do not intend to propose a dividend

· We have increased borrowing availability by £3.00 million over that available last year



Further detail on the above is given throughout the Group strategic report on pages 4 to 12 of the full financial statements.



Ravi Takhar, Chief Executive Officer of the company, stated:

"Our business is resilient. We have had to endure a number of impacts to our group during the year and notwithstanding those impacts, we have continued to trade confidently and profitably.

We enter our 10th year as a listed company with the benefit of our accumulated experience, our loyal staff, excellent funding partners and market leading and cost-effective IT. We are therefore optimistic about the prospects for the business going forward."

[97peter] 04/12/2024 19:39

Ok, see you all there and then after in Spoons!! GLA

[konradpuss] 04/12/2024 19:06

Peter, I really will miss meeting you. I was hoping to buy you many pints at our 'call over' meet up at 'Spoons' prior to the meeting.

Oh well there is always next year if this company can stagger on until then.

[97peter] 04/12/2024 13:11

No! I have no reason to be there! I have no issues or questions and I am happy with the long term strategy and outlook!

[konradpuss] 04/12/2024 05:01

Oh Peter what a shame.I guess your Girl Guides meeting is more important.

[97peter] 03/12/2024 21:42

January 2026 I meant to say. Have a great time at the AGM and Happy Christmas and a prosperous New Year to you all that attend and have a beer on me in’Spoons̵7;.

[97peter] 03/12/2024 21:40

Konrad I won’t be there, not worth going to AGM’s as they only last 15 minutes! Maybe see you in Jan 25.?

[konradpuss] 03/12/2024 08:11

I have now found out where Luton is.

'Spoons' has a very robust looking pub call The White House in Luton.

I will take the train so that prior to the meeting I can get 'Aled up'.

[konradpuss] 03/12/2024 08:04

I have just looked up the 'street view' of 222 Armstrong Road, Luton, the H.Q. of the company.

I am still laughing.

Maybe it's Peter's errrr Ravi's house!

[playful] 02/12/2024 22:14

Sort out a hotel the night before and we can all have a discussion about why some people think all about themselves and not others... Little bird tells me Christopher Mills is here determined to kick someone into next week!

[konradpuss] 02/12/2024 21:02

I am serious about a pre AGM meet up.

[playful] 02/12/2024 20:49

I think my friend David Dosh will look after everyone he's a kind hearted chap.

[konradpuss] 02/12/2024 20:42

I wonder if there is a hearty 'Spoons' in Luton near to the AGM?

We could have a 'call over' and I could buy poor old playful a pint or three?

By the way, where is Luton? I rarely stray out of my SW post code!

[playful] 02/12/2024 20:33

I'll have a beer with you but what with me sleeping under a bridge at the moment im hoping it's on you.