the 4th consecutive quarter of decent profits and full year results with profit between £1.6-£2m if second half as good as first half ; roll on year end results in 2 months/ mid Feb 2015 ( Reminder : Market Cap £13m ; Net Asset Value of £9/10m including £5m cash! ; assets £67million 2 years ago - £102m last count June this year ; possibly £110m+ next count - almost doubling the assets in 2 years )
Not disappointed - it's a buying opportunity and I'm topping up when I can - major market correction due soon. MFX are on course to deliver a 4th consecutive interim in profit - if their 2nd half is as good as their first they will report £1.6m-£2m full year profit - could even be more than that if some of their £20m deferred income starts to flow to the results. 2 years ago they had £67m assets - £102m assets last count and rising. £1.6m/£2m projected profit versus £12.6m market cap!!! and £5m of it's own cash up it's sleeve too. Sit tight...
IMO you want a board that jealously guards the companies equity for the benefit of shareholders. In the case of Manx you have a board awarding themselves an excessivec number warrants and consequently diluting shareholders for thier own benefit so would not be for me.
Delighted with this second opportunity at 13.5p as, with added benefit of seeing the interims, the PER even at the diluted level is not unreasonable and if they kick ahead with growth (recent loan book opened), then the future will be bright in my reckoning.
Balance sheet also good and interims slightly impacted by provision and Edgewater breakeven results
yep...indifferent...I see these CULS all over the place...at least with DDD, the company got a good deal
...SPE is the most egregiously awful LT example I have found of insiders having their cake and eat it...managers on large salaries not prepared to take straight equity risk when they are in control...whereas us poor s*ds have no control (except selling/liquidity) and are right at the bottom of the capital structure
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