S & U Share Discussion Threads

[garbetklb] 28/6/2023 12:14

Rather an odd day for a 5% fall as it goes XD tomorrow. My feeling is that the car lending side will come through OK - the have decades of experience. Property lending concerns me more as their track record is much shorter - and, per AGM TU) having 10 out of 140 loans to professional borrowers in any sort of default is as surprise.....

[pugugly] 28/6/2023 11:34

Nasty falls - Could this just be due to tightening economy - increase in interest rates and hence bad debts - or more to do with problems in the 2nd hand car market?

[melloteam] 24/4/2023 11:39

Just to let shareholders and prospective investors know that S&U plc will be presenting on the MelloMonday webinar at 5:35pm today.

The programme for the evening is as follows:
5.00 pm Mello welcome and company presentation from Frenkel Topping Group
5.35 pm Company presentation from S&U plc
6.15 pm Amati Global Investor Fund Managers Mikhail Zverev & Graeme Bencke present ChatGPT and the new chapter in Artificial Intelligence technology: opportunities and implications
6.45 pm Company presentation from The Property Franchise Group
7.15 pm De-listing from the market can be de-energising (IBPO horror story)
7.25 pm Mello BASH

There will be over 500 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions.

Tickets are still available and if you would like one at half price then enter the code MMTADVFN50.

[rcturner2] 17/4/2023 12:48

Great recovery in the price here. It looks to me to be heading back up towards 2800p.

[1pvh] 28/3/2023 08:14

Excellent results. Unfortunately the rise in corporation tax going forward will affect the bottom line by approximately 7.5% hence the dividend set at 133p instead of probably 138p.Yielding about 5.5% at this level.

[whittler100] 10/2/2023 09:55

The update is not from Paul Scott but by Graham Neary who follows up on his previous positive review of SUS from a month or two back.

[rcturner2] 09/2/2023 13:48

Paul Scott has written up the update on Stockopedia, he seems to be a fan.

[kalai1] 09/2/2023 13:11

S&U plc issued a trading update for the period from its trading statement of 8 December 2022 to the Group's year end on 31 January 2023. Current trading in both businesses, Advantage , the motor finance lender , and Aspen , the property bridging lender, remains excellent. This will be reflected in the full year's results which are expected to both meet expectations and exceed budget. S&U continues to grow and perform well despite the background of "political and economic uncertainty", group net receivables have now reached c£420m. Management are proposing a second interim dividend of 38p per ordinary share (2022: 36p). The business has a history of steady growth, the b/s is reasonable, valuation is average with forward PE of 7.7x. The weak domestic UK macro environment is the main cloud on the horizon, lack of share price momentum also suggests SUS is a share to monitor for now...

...from WealthOracle

[jeffian] 09/2/2023 11:08

As always!

[rcturner2] 09/2/2023 07:11

Yep decent update today.

[1pvh] 06/2/2023 11:16

Trading statement on Friday Should be decent I would think.I keep buying at these levels.

[rndm355] 18/10/2022 05:38

Ten minutes of S&U analysis:

[jeffian] 06/10/2022 17:48

#1686,

I was away when the results came out and have only just had a chance to catch up and view the investor presentation, which was excellent -

You ask if the company might be acquired. This has been a family-run company for 3 generations and the question of "succession" came up in the Q&A. The Chairman's response (after saying he wasn't going anywhere soon!) was that they had succession-planning in place regarding people both inside and currently outside the company. I wouldn't bet against the successors having the surname Coombs!

[melloteam] 29/9/2022 11:37

FREE RESULTS ROUND UP

Just to let shareholders and prospective investors know that S&U plc, Fintel plc, Brave Bison and Avation plc will be presenting at the Results Round Up Webinar at 2pm on Thursday 29th September 2022.

The programme is as follows:

2.00 pm Amati’s David Stevenson discusses “The Small Cap Discount : Opportunity Knocks” with David Stredder
2.30 pm Company presentation by Fintel
3.00 pm Results Round-up from Graham Neary
3.30 pm Company presentation by Brave Bison
4.00 pm Company presentation by Avation
4.40 pm Introduction to Rex by Kit Atkinson of Peel Hunt
5.00 pm Results Round-up from Mark Simpson including the Good, the Bad and the Ugly
5.30 pm Company presentation by S&U

The event is FREE and there will be over 500 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions.

[plasybryn] 27/9/2022 06:45

Exemplary Co. What a balanced, low risk, income generating investment is all about. I believe the dividend is now the size of the original investment for long termers. Amazing. Is there a threat that one day it will be acquired.

[gabsterx] 27/9/2022 06:37

Bulletproof results as usual in spite of all the doom and gloom

Financial Highlights

-- Profit before tax: GBP20.9m (H1 2021: GBP19.9m)
-- Earnings Per Share: 140.7p per share (H1 2021: 133.1p)
-- Net Group Receivables: GBP370.1m (31 July 2021: GBP306.4m)
-- Revenue GBP49.4m (H1:2021 GBP42.8m)
-- First interim dividend: 35p per ordinary share (H1 2021: 33p)
-- Group Gearing at 73% ( 31 July 2021: 61%)
-- Group funding facilities increased to GBP210m from GBP180m post half year

[melloteam] 19/9/2022 22:34

FREE RESULTS ROUND UP

Just to let shareholders and prospective investors know that S&U plc, Fintel plc, Brave Bison, Avation plc and The Property Franchise Group will be presenting at the Results Round Up Webinar at 2pm on Thursday 29th September 2022.

The programme is as follows:

2.00 pm Amati’s David Stevenson discusses “The Small Cap Discount : Opportunity Knocks” with David Stredder
2.30 pm Company presentation by Fintel
3.00 pm Results Round-up from Graham Neary
3.30 pm Company presentation by Brave Bison
4.00 pm Company presentation by Avation
4.40 pm Introduction to Rex by Kit Atkinson of Peel Hunt
5.00 pm Results Round-up from Mark Simpson including the Good, the Bad and the Ugly
5.30 pm Company presentation by S&U

The event is FREE and there will be over 500 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions.

[exv] 02/9/2022 17:51

Hello all,

I published my latest thoughts on S&U on my website:

hxxp://lewissrobinson.com/su-plc-cant-get-no-love/

It remains my biggest position as I think management are still doing a sterling job, and have a much more resilient business than the market gives it credit for.

[dlp6666] 26/8/2022 12:58

What are the reasons for this stock going so downhill since the very encouraging update (and share price hike) a few weeks ago?

Surely all the profit-takers have by now done their damage?

[gorse] 26/8/2022 10:16

Had an order in for 100 at 2160 .... and it got triggered yesterday. Happy about it.

[cwa1] 11/8/2022 14:00

Positive trading update for May to July

S&U acknowledges the uncertain economic background, with growing pressure on household incomes, but its trading update ahead of its H123 results (due 27 September) is positive. Growth in lending has been ahead of budget and expectations, resulting in total receivables of £370m at the end of July, compared with £340m at the time of the AGM update in May and above our previous full year estimate of £366m. At Advantage, motor finance applications remain strong and transactions in the period rose by nearly 25% y-o-y, with receivables increasing from £268m in May to c £280m. Credit quality is also high with strong collections, lower bad debts and reduced voluntary terminations. Further scorecard revisions and increased affordability buffers have been introduced to allow for the impact of inflation on customers. Aspen property bridging net receivables were £90m versus £72m in May. As the business has become more established, it has attracted more experienced borrowers contributing to a higher average loan size (£875,000), boosting growth while resulting in a slightly lower average book yield.

Estimates increased slightly

Mindful of the uncertain macroeconomic and political background we have taken a measured approach when updating our estimates. We have allowed for the growth in receivables in H123 but assume the growth rate moderates in H223 and FY24. We have also allowed for an increase in the cost of funding and some increase in staff and other costs with inflation. The net effect is an increase in estimated EPS for FY23 and FY24 of 2.6% and 1% respectively.

Valuation

S&U shares trade on a prospective multiple of under 9x on our revised earnings forecast and a yield of over 5%. An ROE/COE model implies a cautious market expectation of a sustainable return on equity of 13%, compared with our estimate of more than 15% for the current year.

[jeffian] 10/8/2022 08:54

Aye, the Coombs family have always had a way with words. I enjoyed this too -
"Despite some doomsayers and "cliff-edge" addicts who have commentated on the UK's residential property market, the real world has allowed Aspen to continue its growth....."

Coombs for PM!

[1tx] 10/8/2022 08:30

LOL!It's the first time I have seen the words "hubristic & Panglossian" in a trading update!

[dandigirl] 10/8/2022 07:52

Yes, another encouraging update this a.m.

Hopefully we shall have another increase in divi announced 27/09.