Share Name Share Symbol Market Type Share ISIN Share Description
The Simplybiz Group Plc LSE:SBIZ London Ordinary Share GB00BG1THS43 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.00 -1.42% 139.00 137.00 141.00 137.50 137.00 137.50 6,508 16:35:15
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 62.8 10.8 9.3 15.0 135

The Simplybiz Share Discussion Threads

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Simply Biz are presenting on Monday evening 28th September at the new Mello Monday virtual event that will be hosted by Mello Events with a very entertaining and educational programme lined up. The full three hour programme can be viewed here.... All investors welcome There are still tickets left if investors would like to join....use the code MMV5 for a ticket costing less than a fiver.
Hmmm....price dropped 10% after 2.00pm this afternoon on a selling volume of circa 47,000 shares. All small transactions in the 1000 - 1500 volume range. If it slips any further tomorrow then it could present a further top up opportunity !
Rubbish - the quality of earnings are exceptional, hence the results. The add-ons give the extra value and will return when we get back to normal
Interim results demonstrated mixed resilience, with certain parts of the business suffered more than others. Management maintained full year guidance for adjusted earnings per share of no less than 11.0p which equates to a current year multiple of 14.2x. While this looks relatively modest this doesn’t look like the sort of business that will deliver meaningful organic growth. More on the Investor's Champion website.
Solid Progress in H1. Resilient Performance - Digital Acceleration SimplyBiz (AIM: SBIZ), announces its unaudited results for the six months ended 30 June 2020. Financial highlights: -- Revenue of £28.9m (H1 2019: £29.1m) -- Operating profit of £5.0m (H1 2019: £3.2m) -- Adjusted EBITDA*(1) of £7.4m (H1 2019: £8.0m) -- Adjusted EBITDA*(1) margin of 25.5% (H1 2019: 27.5%) -- Adjusted EPS *(2) of 4.22p (H1 2019: 5.57p) -- Free cash flow conversion*(3) of 65% (H1 2019: 43%) -- 30 June 2020 net debt of £25.8m (30 June 2019: £30.1m) -- Full year guidance maintained - adjusted EPS no less than 11.0p (PY: 13.0p) Operational highlights: -- Digital strategy accelerated -- Scale and growth in intermediary services -- Decisive cost control and efficiency improvements -- Strong performance and contribution from Defaqto -- Mortgage completions of £7.4bn -- Awarded Service Company of the Year Operational Update The company took strong and positive action within the first week of national lockdown to successfully ensure it could fully support its customers and colleagues. All services to intermediary customers were moved onto a proprietary digital platform and delivered without disruption. Decisive cost control and efficiency improvements were made which will deliver sustained margin benefits in the future. Fintech & Research remained resilient and robust over the period with continued product developments to support our future growth. The Company's mortgage valuation business and events programme were significantly impacted by the lockdown, though volumes moderately increased in June. Management expects a continued slow recovery in the housing market during the second half of the year. Mortgage completions were consistent with prior year, further demonstrating the resilience of our customer base and services. Management quickly and successfully moved to agile working, bringing forward and enhancing developments to the digital platform, enhancing the delivery of services. Matt Timmins, Joint CEO of The SimplyBiz Group plc, commented:"We are delighted to report strong and resilient trading for H1 2020, demonstrating the robust nature of our business. We benefitted from an improving quality of our underlying earnings, under-pinned by six full months trading from Defaqto which helped offset a significant reduction in valuation income during the period. The quality of our revenues, the resilience of our customers, and the benefits of a stronger digital delivery platform have enabled strong trading during challenging times. We have responded quickly and decisively to deliver growth in key strategic areas, whilst improving the quality of our underlying earnings. We have accelerated our digital strategy. This data led, digital delivery, will further improve our quality of earnings, margins and cash generation going forward, whilst also improving customer service."
Interims due on 15 September, which is two weeks on Tuesday.
Bought back in this morning, quality company that has not recovered like most. Expecting a rise to the results
SimplyBiz ‘share price should reflect the improved quality of its earnings’ Zeus Capital (Analyst Interview)
Topped up today.
Zeus- Recurring revenues show quality What’s new: SimplyBiz’s 1H trading update confirms that recurring revenues from Defaqto and Intermediary Services have limited the impact of lockdown on revenue and EBITDA. Full year guidance: adj EPS of no less than 11p. Key points: § 1H20 revenues of £28.9m (0.7% lower than 1H19: £29.1m), with Defaqto acquisition in March 2019 offsetting a significant reduction in valuation revenue caused by lockdown restrictions. § 25.5% EBITDA margin benefited from cost management (1H19: 27.2%). § Cash flow conversion expected to exceed 65% (1H19: 40%). § Net debt at 30 June 2020 of £25.8m; Group well within banking covenants. § Board expects 2020 adjusted EPS shall be no less than 11p (FY19: 13p). § Intermediary Services division continues to deliver all its services to customers without disruption … and continues to recruit new member firms. § Distribution Channels division has been significantly impacted by the lockdown restrictions in the second quarter, with the volume of valuations and surveys moderately increasing in June. § Interims are scheduled for publication on 15 September. Outlook: Matt Timmins, Joint CEO, said the “lockdown period has allowed us to accelerate our clear digital strategy which will further improve our quality of earnings, margin and cash generation going forward.” Zeus view: SimplyBiz’s resilient business model and its acquisition of Defaqto in March 2019 have enabled the group to report interim revenues down only 1% YoY and a respectable EBITDA of £7.4m (down 6% from 1H19: £7.9m). We set out new forecasts, consistent with management guidance, on pages 2 and 3, along with our assessment of the revenue streams and divisional EBITDA margins. We expect Intermediary Services and Defaqto will together contribute 73% of both 2020 and 2021 EBITDA. Group earnings quality has improved. Valuation: At 150p SBIZ is trading on 13.6x our new 2020 forecast adj EPS of 11.0p, which including share based payments. We expect SimplyBiz to provide investors with higher than market earnings growth and have defensive qualities. With prospects of double digit earnings growth over the next few years (driven by Defaqto and Intermediary Services), a valuation of 16x Zeus forecasts 2021 adj EPS of 12.2p (i.e. 195p) is, in our opinion, credible.
Lombard Odier have reduced their stake by 41% from 8.32% to 4.91% by not taking up their placing rights for the DeFaqto acquisition and by a subsequent share sale on 24 April this year. Meanwhile Liontrust have increased their stake by 6% this year. Major shareholders updated in the header.
Lets get ready to rumble
Their surveying business has been completely caught out. Most of the mortgage market has moved quickly to e-surveys, without a physical inspection and at lower LTVs. I'm not sure that part of their business is coming back easily - they need to develop that capability. The mortgage brokers are going to find life difficult for some time.
reduced % from 6.22% to 4.91% reduced by 1.267m shares
Lombard Odier Asset Management have reduced their position by 20%, from 6m to 4.75m shares.
Decent co and no doubt this will rerate with limited.impact of current crisis and need of firms around regulatory compliance with Brexit.
Today's 3.5% fall based upon a volume of just 13,500 shares at 1.25pm. I added a few @140p, which is shown as a Sell.
Todays 12% fall is on a trading volume of under 40,000 !
Zeus; Results show quality growth What’s new: SimplyBiz’s full year results, reveal: § 12.5% growth in Intermediary Services revenue (ex discontinued) to £24.2m (Zeus forecast £24.0m) and £5.6m to Group adj EBITDA (i.e. 23% margin); § 2.2% fall in Distribution Channels revenue to £26.8m (Zeus forecast: £26.4m) and contributing £6.5m to Group adj EBITDA (i.e. 24% EBITDA margin); § Acquisition of Defaqto delivered £11.8m of revenues and contributing £4.9m to Group adj EBITDA (i.e. 41% EBITDA margin); On 28 January 2020, SimplyBiz’s trading update noted: § 24% rise in Group revenues (2019: £62.8m; 2018: £50.7m); § 49% rise in adj EBITDA (2019: £17.0m; 2018: £11.2m inc R&D amortisation); § Strong adjusted EBITDA margin of 27% (2018: 22%); § Group net debt at end 2019 was £27.0m (30 June 2019: £30.1m). Outlook: Matt Timmins, Joint CEO, said “The Board is confident and optimistic about 2020 …[and is] guiding to marginally lower growth in revenues and EBITDA, particularly in employee benefits and valuations, with operational gearing flowing through to earnings … both headline and underlying growth to remain strong.” Zeus view: SimplyBiz’s Intermediary Services division and Defaqto (9 months since acquisition), which both enjoy very high levels of recurring revenues, have delivered on our expectations. We maintain our revenue and EBITDA forecasts for these two divisions. 2020 will benefit from a full year contribution from Defaqto. The Distribution Channels division has experienced good growth in Mortgage Origination but experienced a fall in activity in Valuations and lower than forecast growth in Marketing Services. We have trimmed our revenue and EBITDA forecasts and included share based payments in adj EPS forecasts. We cut our forecast revenue 3%, adj PBT 8% and adj EPS 12% (see exhibit 1). Our DPS forecasts are based on 3x dividend cover. Valuation: At 175p SBIZ is trading on 12.7x our new forecast adj EPS in share based payments for 2020 of 13.8p. We expect SimplyBiz to provide investors with higher than market earnings growth and have defensive qualities. With prospects of 12% pa earnings growth over the next 2 years, a valuation of 16x Zeus forecasts 2020 adj EPS of 13.8p (i.e. 220p) is, in our opinion, credible.
Director buys now.. not sure if exercising some options or buying with own cash tho
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