Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Quite a hefty sum for recruitment company. Let’s see how this pans out
And vouchsafed invoice financing of £45,000,000 to these guys...
https://www.assetfinanceinternational.com/index.php/equipment-finance/news-emea/emea-articles/23799-mach-recruitment-receives-45m-invoice-finance-facility-from-metro-bank
Lending in general down 9% on same Qtr 23.
Anyone know the situation with metro banks personal loans?
Rate setter not accepting any applications and no loans being issued directly from metro bank.
Thought personal loans were a good moneymaker
Very dull trading update.
Wait to see were market will take Metro sp
What an utterly dull trading update..The shares will drift sideways for next few months..
Thing is hgood and they have increased assets over 400 millions . Yes they will get over this soon next update an profit on . This is bottom now as there is nothing too serious destroying it .
Next things they will do reduce cost and that us all we hope for . As soon as cost reduces it will help to increase full year in the end.
UK Bank stocks are all up today. Banks are in good shape generally and metro is catching up. However, I think it will be acquired before it catches up.
No mention of profitability- they don't tend to provide a number in quarterlies but when its good news they tend to splash on it, so assume the loss was material. 25% reduction on current account sales vs Q123 is not as bad as it could have been after October debacle, but likely points to continuing decline in low cost deposits. Cost cutting will make this worse, Lending looks weak. At the moment they are just cycling assets into cash. Very exposed if rates do come off. Can't see an organic turnaround here. Needs capital and a new management team.
Yes a re-rate could be on the cards once they have stable growth and profitability over the long term.
The market will be comforted the bank is on the right path now. Costs reducing and the limit to higher margin products. Time for the re rate to begin
Good progress being made - steady as she goes
Let’s see the update.
Q2 will elicit more detail. Staff and cost savings, impact of short hrs on deposit/accts/SDB income, i cant see anything moving the dial in the q1's. In fact pulling the high Deposit rates might have neg impact on deposits. Metro need a big initiative other than a bit of incremental nibbling at costs imho, that won't be anywhere near enough. SP has been steady 5 -8% growth last 1-2 months on sentiment to board appt/changes, cost cutting, but nothing spectacular.. but at least the hole in bucket seems to be plugged.
Dont expect this to be around long. Banking sector is going through a mega consolidation - £1 take out and off she goes
I tend to think that companies that make no announcement to stock exchange for any upcoming trading statement is one that has a disregard for its retail shareholders ..Instead directing the company for themselves and their shareholdings..As in the previous rights issue where retail shareholders were excluded..
What are people expecting from Q1 results? Profitability looks unlikely given Q423 losses which will flow into Q124. I would expect a £30m underlying loss. But i don't think that will move the price significantly up or down. That would require some form of transaction. Hard to tell if recent positive sentiment reflects movements there or is just reflective of overall volatility given limited free float
Most likely by the end of the week
Metro Bank plc (MTRO) Metro Bank plc: First Quarter 2023 Trading Update 03-May-2023 / 07:00 GMT/BST
That is last year so it assumes this year we will have the same on time or maybe some delay but not far from it.
Next month as the same last year.
When is q1 results?
Can't find date on metro pages 🤦♂️
I am waiting this baby over 4 months time as it should come back over 40p now. Not long to wait as it should come out positive results as they cut down all they can and bring first ever profits ever. This will go up from here .
We need some good news for that. Not sure if the Q1 results will be enough to push into that bracket. Potentially H1.
Unless the results prove to be really positive. We will find out in a few weeks!
Appears to be 30p to 35p and ha been covered quite a number of times in recent weeks...be nice to see it jump to a higher trading range of 35 to 40 in the near future .
So Lloyd’s & Barclays profits slightly slip, I hope that Metro could go on run & could easily be back up to 50p & then £1 in no time at all. I keep adding at current price as this could be a life changing company for me & many others buying at current prices GLA