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mark my words the market is cooling and when it does agents will move form RM to OTM
YE figures until 31/1/22 have been announced and things look ok - revenue grew by a third and are now over £30m although profit at £2.6m is a little disappointing considering the H1 performance was really good - assume much of the H2 gross profit went into the TV advertising campaign.
With a healthy cash position and a not excessive valuation there is a lot to like here.
My main concern is that RM is going from strength to strength - it recently announced excellent results and the SP has risen accordingly. So 2021 was clearly a good year for house selling.
The shift of getting free/discounted agents to move to fully paying customers appears to be moving at a slower pace than i was hoping.
Having said that if revenues can keep increasing by c 20%p.a the profits will follow.
another try replace * with v-o-x-m-a-r-k-e-t-s.
replace the * with **********
Agree with everything you say shandy.
Perhaps Glanty needed extra investment? They have not really explained what exactly Ganty brings to the party (unless I missed it?)
On the whole, my reading is that with Glanty's development team, there will be further products offered. Teclet seems like a hidden offering with little to no marketing. Unless I have missed it (I no longer get the property related magazines)
And Skipa, co-developed with Hunters either belongs to Hunters or Glanty, another this that needs to be clarified. If it belongs to Glanty, then this could be a very serious CRM to offer agents.
Meanwhile: https://www.**********.co.uk/articles/onthemarket-revenues-are-ahead-of-market-consensus-18e9fd9
i do like OTMP and i think their business model is far more sustainable than RM, however, i am a little concerned by both the last 2 financial updates - H1 and this week.
Last YE profits were great at £2.3m. H1 seemed to grow on this with £2.1m adjusted operating profit but actual operating profit at almost zero.
What is adjusted operating profit - is it EBITDA?? The biggest adjustment appears to be free shares offered to new estate agents. If so the number of new estate agents moving onto paid tariffs is quite low. This doesn't tally IMHO.
Then H2 was essentially forecast to breakeven?? Why? I though OTMP was fast growing i.e double digit growth.
I assume much of this is due to the current TV adverts, so marketing spend has increased in H2, but marketing spend is a standard cost so this should be budgeted and accounted for out of gross profits surely.
A fast growing company should not be expecting to breakeven in a period and then announce how well they are doing when the results are now slightly positive.
Still think this has potential and in comparison to RM is undervalued however the current PE is quite high so earnings must grow each year to justify this.
Thing is, I bought these about three years ago when I saw a significant increase in leads come from OTM.
It has been a slow journey for shareholders and things will only improve. Agents are really getting ****ed off with RM and if they finally get their act together and leave, then OTM will get a major uplift.
Question is..... https://youtu.be/BN1WwnEDWAM
Thanks.
5p spread is normal.
Hey Guys. The spread on this stock is too much 128.25 to buy and 123 to sell! Can we buy on a Tighter spread? Thanks
12 Companies to follow in 2022 from @TMsreach
https://total-market-solutions.com/2021/12/12-companies-to-follow-in-2022/
Finally the beast stirs
A lot of sells and the price didn't budge an inch.
Very strange.
Let's see if this works.
https://youtu.be/QLwqF7yJ6HY
another positive interview from CEO on v o x markets last week - link never works.
All seems to be going well so hopefully H1 results will reflect this.
There is a regular purchaser buying 10k at a time as long as it is below 105p
This is how I built a decent stake in the company myself.
Need that to translate into share price increase!
“…Revenue up, cash up. We’re on a phase of our growth which is unprecedented…”
https://total-market-solutions.com/2021/11/on-the-market_nov_2021/
There was much talk this time last year on how Boomin would destroy OTM.
It is recieving a fraction of the top three portals in terms of visitors
https://www.similarweb.com/website/boomin.com/#overview
Also, with the reduction in the purchase price of Glanty, I suppose those products are not doing too well?
My questions were about:
1) how is the skipa rollout progressing with Hunters and will TPFG also take it on now that they are "partners" with Hunters
2) When will Teclet be properly marketed as it seems to be a secret product at the moment
I suppose they did not like me loading the questions like that :-)
what were your actual questions KOSH?
I asked about converting agents from the free/discount to full payers and this was answered although the answer was a little vague. They suggested they hadn't been focusing on this until recently so the data is limited etc. As this is surely the easiest way to drive revenues i can't believe this wasn't their number 1 priority.
Also if our prices are c10% of RM then surely it's a no brainer to be on OTMP, cost is barely £10 per month. If agents aren't signing up that's a big concern IMHO.
Thought the presentation was ok, not brilliant, and CEO came across quite well
My questions were ignored.
Were about Skipa and Teclet.
Presentation was pretty boring.