Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Berenberg today raises mony to buy rating ( from hold).
No impairment of goodwill in the entities though, so acquired entities are still trading well.
An increase in amortisation can help companies delay tax payments, keeping cash that they can invest or pay in dividends.
They are a bit miss-leading in the presentation slides when they talk about the amortisation charge, they have stated
"that aside, like-for-like operating costs up 6% excluding non-cash and one-off items (incl. £9.8m amortisation charge and effects of Podium consoidation).
This is not wholly a one off item, amortisation will be higher in future years because they have halves the useful life of some of the intangibles, the £9.8m will include this years increased charge plus prior years charges to catch up. just changing this for quidco is an extra £2m of amortisation charge per year for the next couple of years.
Whats everyones thoughts on the SuperSaveClub?
It seems an expensive way to acquire customers, with the refer a friend bonus and the amount they pay you for taking out an insurance policy they are actually running at a loss of £10-24* per customer acquired. That’s if the customer doesn’t use the “free days out” pass which bumps this up.
This must be more expensive than pay per click, but perhaps cheaper than the TV adverts. The on going rewards probably make the customers more loyal, but I wonder if the average customer interact with MSM regularly enough for them to remember the next time they do their annual car insurance renewal that they are part of the SuperSaveClub. Perhaps if they start adding more rewards for mortgage comparison, new credit cards, loans etc then this will turn into a really good (and profitable) loyalty scheme.
*For Refer a friend, MSM pay paying £20 each to you and your friend for the referral plus £15 to your friend to take out the insurance. So a total of £55
The income they get is easy to estimate, its what Quidco pay back for insurance comparison, currently £45 for car insurance, and £34 for home insurance. So per acquired customer the club costs them £10 - £26.
Barclays analysts cut price target on comparison website to 295p from 305p; maintain 'overweight' rating. Analysts at Barclays expect Q1 rev to be strongest qtr of year at +9% and then slow down, exiting year at low single-digit growth.
I will continue to hold, it s a quality company with a 4% yield. May get an offer one day.
Trigger happy on the send there. I'll take market expectations in future years happily, they were confident to achieve this year and did so hopefully the market gains some trust they're confident to keep delivering.
Agree definitely feels a good set of numbers.
Ill
Just had a quick flick through them. The results look good - double digit growth in sales and profit with profit growth ahead of sales, and halving the debt - all very good. And the promise of energy switching income to boost sales in the not too distant future. Surprised that money was lower than last year, despite it being such a bumper year for the sector. With interest rates high looking for best deal on loans and savings I would expect to be crucial.
However, a little bit concerned about the outlook statement - it was a bit like "well we hope we can meet current expectations" rather than "this is how we are going to exceed expectations." So a bit weak, and in current markets any sign of weakness tends to send shar prices lower.
Analyst expectations look to be averaged at:
Revenue 424.2m
Ebitda 129.5m
PAT 80.1m
With this and future cash flow forecast, simply wall street has a fair value estimate at £3.82. That might be a bit much to ask for tomorrow :).
Best of luck for you both in the morning, hopefully the one large ostrich egg in a basket approach works for you willz.
I took Amazon’s entry with a pinch of salt, google tried to break into the pcw space years ago and failed, the amount of red tape and contracts they have to build up to make a viable panel is vast, they would have been better off buying out a company like quotezone and building off that in a similar way to GoCompare buying energylinx to absorb all of the energy relationships
Also this is good news:
Shares in British comparison website Money Supermarket
MONY rose 3.5% to a nine-day high on Thursday after Amazon.com
AMZN said it was planning to shut its UK comparison site Amazon Insurance Store.
Just to highlight another reason why I think Jeffries is wrong .. future plc owner of GoCompare on the 7th of Feb gave their Q 1 update which is moneysupermarkets Q4, they highlighted how strong Q4 was, and money supermarkets share of revenue historically when looking at GoCompares a pre takeover results, MONY has had greater market share
I have a modest holding, 3% of pf. Been in here about a year. Was determined not to trade this, and really thought it would break £3. But ended up back under water, and now flat. I think its a quality business and not something Im going to worry about. Not sure its going to smash earnings though. A recent article in City wire from a few days ago shows that shore capital are still bullish.
Shore Capital is positive on Moneysupermarket (MONY) ahead of full-year results thanks to the comparison site’s competitive edge and ‘multiple verticals’. Analyst Roddy Davidson retained his ‘buy’ recommendation and ‘fair value’ target price of 345p on the Citywire Elite Companies AA-rated stock, which ticked 0.3% higher to 245p on Monday morning, but is down 10% this year. ‘At the heart of our positive view on Moneysupermarket is its proven ability and long-track record of saving consumers money,’ Davidson said. ‘This reflects several positive factors, including the depth of its inventory, the strength of its relationships with product providers, and the fact that it enjoys leading positions across multiple verticals.’ Davidson also noted the ‘competitive advantage’ the group receives from the strength of its Moneysupermarket and MoneySavingExpert brands. ‘We do not believe that these positive dynamics, or our expectations of attractive earnings per share growth, a useful dividend per share progression, and strong cash generation are reflected in its current stock valuation,’ he said.
I’ll be honest, I’ve done the exact same and quite literally put all my eggs here. Other than a struggle with their money products due to the macro environment or an overly cautious view of H2 24 pulling back to the norm, I’m finding it hard to think of anything poor that could crop up.
I'm in the same boat as you Willz.
I'm expecting an overachiement of revenue and around upper end of profit (I've completely gone away with the diversified portfolio and put a large % of my cash into here)
Hoping to be able to send the analysts at Jefferies a thank you card for a terrible piece of work that gave the opportunity for a chunky top up at 2.42.
Or I'll be eating rice and beans for a year, will see on Monday.
Hopefully not to premature but I am expecting Q4 to have been decent based on what the insurance market has looked like in terms of volume with a price comparison have no risk tied to claims inflation for the insurance element. Hopefully paired with a strong forward looking statement for insurance and a twinkle of hope for energy returning. MONY also live a special dividend so who knows we may get a nice reward April based on a strong Q1 and return to energy.
Jefferies cuts Moneysupermarket.com to 'hold' (buy) - price target 265 (305) pence
RBC raises Moneysupermarket.com price target to 310 (300) pence - 'outperform'
HSBC raises Moneysupermarket.com to 'buy' (hold) - price target 305 pence
Switching back big time
https://www.energylivenews.com/2023/08/17/energy-price-cap-change-sparks-85-surge-in-switching/
Jefferies raises Moneysupermarket.com price target to 305 (285) pence - 'buy'
No explanation
My recent notes:
25/7 -
* Barclays raises target price to 305p from 300p
* HSBC raises target price to 305p from 270p
* Peel Hunt cuts to hold from add
* Peel Hunt raises target price to 290p from 260p
18/7 - everything is perfect so time to sell
18/7 - https://uk.finance.yahoo.com/news/direction-travel-good-stock-car-050000306.html?.tsrc=rss
7% SP drop not explained anywhere I've seen at this stage, but presumably the burning South has destroyed holidays which are a principal source of income on this price-comparison site.
We've waited a long time for this stock to come good, it is a real shame. Having said that, still up on the week thanks to earnings update. But going forward, this is one of those tragedies that it is not evident the world will recover from :-(
Looking on the bright side, what companies benefit from climate change and where would you move to as CC looks like it is advancing faster than imagined.
Quite frankly I don’t care what the brokers say. They all have different motives that we are not privy to. The important thing to me is that this is a quality company with a bright future. For the patient investor, (something I try very hard to be, although not always successfully) this is an opportunity to buy a few more at a discount.
And Shore Capital increases its “fair” price to 349p 🤷♂️
Maybe the comment about people not switching energy providers this year has spooked the MMs. All a bit of a mystery.