The presentation was very interesting, the CEO delivers these very well.
Good to hear that as of this weekend the new platform to integrate the company will be trialled, making the 2014 business plan steps complete.
As of the future it looks like the business is going to pause for breath and expand organically and increase profits by cutting costs, unless a game changing opportunity arises, can't remember his exact words. I would like to see a more definitative plan, maybe financial targets for the coming years to show how the company will grow.
Also the board is looking at how to turn around the market sentiment toward 1PM, and talks around the board room are ongoing, be interesting to see the outcome of this, maybe announced at the AGM
Group overview 00:35
Who 1pm are - 02:22
What 1pm provide 04:17
Three operating divisions 04:50
What 1pm do 05:53
1pms history - 11:21
Group companies 11:42
Management structure 12:03
Major shareholders - 12:52
Competitors - 13:49
Track record 2014 to 2018 H1 - 15:18
Financial highlights - 16:26
Strategic plan 2014-18 - 19:34
Next phase of strategic growth - 20:53
Q&A - 22:58
1pm CEO Ian Smith talks about gaining access to the Mintos marketplace, a leading online marketplace for financing business loans via global retail investors and becoming the first UK based loan originator to join Mintos.
Fintech Strategy 00:05
What does Mintos Offer? 00:53
Does this give 1pm a competitive edge? 1:33
When will the funding start? 2:10
Commercial terms 2:49
Amount of funding? 4:01
How will this benefit 1pms profits? 5:03
The next step with Fintech strategy 5:40
Just a reminder that 1pm plc will have a stand and be presenting at our huge Mello2018 event in Derby on 26/27th April and all shareholders and potential investors are welcome to attend http://mello2018.com/index.html
OPM attended and presented at our Mello2014 & Mello2015 events and Ian Smith the CEO and other members of the team will be there on the Friday in Derby
Do come and join us at this quality two day event.
Interim results: delivering value-added strategy - The results confirm 1pm is on track to deliver the substantial profit growth the market expects. We believe greater confidence in delivery will be a trigger for re-rating as the current May 2019E P/E of 6.5x and P/B of 0.8x are inconsistent with a profitable, growing company. The results also confirm impairment losses, although rising modestly, remain well controlled and more than priced into lending, and that provisions coverage is increasing. Funding continues to be well diversified and the average cost of funds is down nearly a third. We expect the second half to show a continuation of these trends, together with more integration benefits.
Ian Smith Introduction & brief overview of 1pm 00:23
James Roberts Financial highlights 01:26
James Roberts Continuing growth 02:54
Ian Smith Continuing the strategy 03:36
James Roberts Funding facilities 04:43
Ian Smith Summary & Outlook, 06:0
What can we expect with the interim results? 00:21
Based on broker forecasts it looks like results are H2 weighted, is that the case? 01:17
Can you explain the exceptional items 01:48
Can you tell us more about the organic growth? 02:23
Hows the integration of the acquisitions going? 03:32
Are any of the divisions out performing? 04:38
Are you concerned about interest rate rises? 05:18
The new funding facility 05:50
Can you tell us more about the use of FinTech 06:36
Whats the outlook for 1pm going forward 07:37
Ian Smith CEO
Investor proposition 00:40
The SME finance market 3:00
Group overview 3:58
What 1pm do and examples 6:07
Spread of credit risk 8:22
Business origination 9:20
The competition 10:19
The strategic plan 10:58
James Roberts CFO
Financial highlights 12:11
Profit before tax 14:26
Net interest margin & EPS 14:46
Portfolio analysis 15:21
Ian Smith CEO
Summary & outlook 17:25
High payment for acquisitions? & dividend 18:47
Funding sources & risk- 23:27
Ian Smith: Brief overview of 1PM 00:20
James Roberts: Results 00:44
Ian Smith: How the results where achieved 1:54
James Roberts: New business 2:47
Ian Smith: The strategic plan 3:28
James Roberts: Funding facilities 5:15
Ian Smith: Summary & Outlook, 5:53
Went to a presentation by Ian Smith (Chairman) & Helen Walker (FD) at a ShareSoc seminar earlier this week.
After their presentation, they stayed and chatted. I with 2 or 3 others had a good 10 minutes face to face chat with them both.
I am now a new investor.
I say no more.
I do not believe the fundamental have changed that the in such a short time. The results seemed good to me and the outlook was strong. I think this has been walked down to the year low and will start to rise from here.
Yes well thanks izzy and trust you are to. Agree SP seems to be stuck in the 60p range but not for long me thinks. Last year there was the cost of move, more staff etc and of course two placings. This year we should see the benefits and the recent acquisition will be earnings enhancing. The update next week could be very positive and I would expect some good media feedback as a result of the merger. £1 in the NY but 80p in the short term.
Yes still in BOWOOD, Sold some. and topped up in African Potash and Metal Tiger, thought there were good times on the horizon when they moved into the new bigger offices, and increased head count, but very little seems to have happened, I just hope there will be some good news in the results.
Yes I was but now feel that she is still CEO of 1PM and will continue to drive that subsidiary, with a group CEO now in place overlooking the two trading companies. As I posted earlier Maria is 1PM and I now see the thinking of the Non Ex Directors.
Are you still here izzy? Interims to be announced mid December and I think we can expect some excellent figures, Existing business doing well and the acquisition a few weeks ago will be earnings enhancing so we are told. It would not surprise me to see the SP press on to 80p+ over the coming couple of weeks. Any thoughts?
I think in spite of the half year results being good the price is feeling a bit of a lag from the issue of the additional equity, effectively leveraging down the business, and the upfront cost of the additional investment.
On the investment side, my estimate is that there would be £100k cost for the additional staff (6 months of £400k over 2 years), plus an unknown amount for investment in systems (cash outflow, P&L depreciation).
I don't necessarily see the investment holding the earnings growth back substantially, but I think the combination of the equity issue, and the up-front investment, has led to investors taking a "wait and see" approach.
My figures were based on the present share capital of 36.55 shares in issue, BOWOOD, so the present results reflect that, and the larger offices and the relocation cost will more than pay for them selves, by the extra business they will generate.
Plus there is no real need to borrow more as they have a few million in the bank, with lending repayments also being used for future business, 1PM must surely be self funding.
I did notice if you wanted to invest a few grand, they are paying around 6% interest, which is a lot better than you would get in a bank.
You are right of course but we now have more shares in issue so eps will stagnate for a while and net earnings may fall back as the cost of development has to be absorbed. The sp could fall back a little as the position is consolidated.
Sorry BOWOOD i just don't get it, this isn't a company that is selling goods, goods that are not selling, the book stands at £24 million, with most coming back with interest, plus they have money in the bank, they have moved to bigger offices, and are looking to employ more staff, all that could be paid for out of the interest they are getting,
The more they lend the more they will earn, but what ever way you look at it, the company must have a valuation of around £36 million, there are just over 36.5 million shares in circulation, which has to make the shares worth at least £1,
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