The Simplybiz Share Discussion Threads

[essential] 07/8/2018 13:36

Just bought in. Interesting that scsw editor just bought a stake too in advance of results..

[nw99] 07/8/2018 11:05

Buyers around

[tmcn1] 07/8/2018 10:38

Same goes, big nose !

[rubberbullets] 07/8/2018 08:48

cheers big ears

[aishah] 17/7/2018 20:05

Wrong thread. Apols

[masurenguy] 17/7/2018 15:29

Graham Neary's view

"Trading is in line with expectations. This is a new stock, and everything has gone smoothly since IPO (at least according to the share price). I covered it at its Intention to Float announcement (link). Looking back at my previous article, I see that SimplyBiz had £8.8m of operating profit in 2017, before taking into account some rather large finance costs. Trading Highlights - revenues are up by 13.7%. Most of this growth is due to an acquisition. Organic growth looks to be around 5.5%. Net cash is now £1.2m, versus a large debt pile prior to IPO. So the finance costs should be all but eliminated.

My view - happy to keep an eye on this one and learn more about it."

[masurenguy] 17/7/2018 15:26

Topped up earlier today.

[starpukka] 17/7/2018 09:53

Good results so is the price drop a tree shake then ?

[masurenguy] 17/7/2018 08:13

Good H1 update !

Pre-close trading statement for six months ended 30 June 2018
SimplyBiz (AIM: SBIZ), the leading independent provider of compliance and business services to financial advisers and financial institutions in the UK, is today issuing a pre-close trading update for the six months ended 30 June 2018.

The Group has performed strongly since the start of the year, with trading in line with expectations. The period marked the Group's successful admission to AIM in April 2018, with continuing organic growth supplemented by further returns from the Group's proven inorganic growth strategy.

Highlights

- Group membership numbers increased by 5.7% to 3,628 from 3,433 at 31 December 2017 (3,367 at 30 June 2017)

- Group revenues increased by 13.7% to £24.2m (June 2017: £21.3m). £1.8m of the increase in revenue is due to the acquisition of Landmark Surveyors, which was acquired on 23 January 2018, with the underlying growth in revenues reflecting the similar growth in membership

- Adjusted earnings before interest, tax, depreciation and amortisation ('EBITDA') performing in line with expectations

- Net cash of £1.2m, as compared to net debt of £23.0m at 31 December 2017, reflecting operating performance and the beneficial impact of capital raised at IPO

- Completion and integration of Landmark Surveyors Limited

- The Vitality Group, a market leader in the provision of personal financial services, has recently launched Vitality Invest and has selected SimplyBiz's distribution channels as a key product launch partner for 2018

Notice of Half-Year Results

The Group intends to publish its half-year results on 11 September 2018.
Matt Timmins, Joint CEO of The SimplyBiz Group plc, said:"We performed strongly in the first half, maintaining our trading momentum and delivering results in line with management expectations. Our successful IPO in April 2018 has been very well received by our members and we have already witnessed positive commercial and reputational benefit. Our capital position and a highly fragmented marketplace offer us ongoing opportunities to build out our service offering, reinforce the strength of our organic growth platform and pursue selective acquisitions."

[opodio] 17/7/2018 07:38

Valuation: At 185p SBIZ is trading on a current year PEG of 0.76x. This trading update shows SimplyBiz is delivering stronger than expected growth in its membership which bodes well for future revenue and profit growth. Full interim results on 11 September should confirm that operational benefits of scale and acquisitions are delivering attractive profit margins and high real double-digit shareholder returns. SimplyBiz is an attractive long-term holding: a growth stock with defensive attractions that should trade on a PEG of over 1x.

[robsy2] 12/7/2018 12:06

I bought a few this morning. I am attracted by the idea of making money out of IFA regulation.
R2

[opodio] 06/7/2018 13:05

breaking northwards horatio

[opodio] 05/7/2018 14:11

Breaking northwards

[soundbuy] 05/7/2018 09:45

Tipped?? - more delayed trades showing..........

[nw99] 05/7/2018 08:55

190 above is blue sky

[middlesboroughfc] 03/7/2018 15:52

up on MAB1 move

[middlesboroughfc] 28/6/2018 15:27

SBIZ up up and away

[opodio] 26/6/2018 18:42

results soon? Anyone able to confirm

[nurdin] 26/6/2018 11:09

Took a position here this morning.

[nw99] 26/6/2018 08:22

Thanks for these looks good

[middlesboroughfc] 26/6/2018 08:13

Nice precis glass

[masurenguy] 25/6/2018 23:38

Good to see you're here too GHF. I liked the recurring income, the large number of subscribers, their dominant market position and the potential to add further services to an expanding subscriber base. I was also attracted by their defensive qualities in what could be a volatile market in due course.

[glasshalfull] 25/6/2018 18:14

Snap Mas!
Met the joint CEO duo at Mello 2018 & impressed by them & business...valuation at that juncture stopped me from investing.

However, went back through the Admission Doc & Zeus initiation & decided to pay up.

Why?

* Earnings growth +28% EPS growth estimates this year (10.5p Adj EPS) / +23% in 2019 (12.9p EPS) / +16% in 2020 (15p EPS). PEG 0.75 or thereabouts.

* Growth in compliance - more & more regulation coming on stream. We’ve just had MifID II & GDPR...with SBIZ support services fulfilling this requirement. Organic growth c.5% with cross selling opportunities.

* Breadth of offering - Monthly membership subs from 3,400 firms & in addition many pay for software. Distribution channels to 135 financial institutions, as well as offering investment via Verbatim funds & other discretionary services.

* Strong cashflow - Forecast over next few years. 2018E £3.6m net cash / 2019E £9.5m / 2020E £16.8m

* Strong Recurring Revenues - Sticky customer base with 92% recurring revs. Admission doc indicates non-cyclical. In other words a defensive play in uncertain times.

* Rising Margins - EBIT margin of 20% in 2016 rising to c.21% in 2018 & 22% in 2019.

I also think they’ll add some bolt-on acquisitions from reading through the commentary, which suggested that it will be on an earnings enhancing basis. Also indications of a maiden dividend this year which is forecast to rise materially next year to provide a yield c.2.4% & 2.8% in 2019 & 2020.

Anyway, small investment for the timebeing & will await the forthcoming trading update/ results for H1 with interest.

Kind regards
GHF