Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
An RNS ? Without a massive clanger? And no financial bombshell? I’m dreaming right? Very solid update indeed. Pinches self …
But there is a hell of a lot of bad news priced into our SP. In my opinion wayyy too much compared to others. We’ll see.
I nearly added “watch it drop by 5%” as a joke. Oops.
Very positive and well worded for once (!) it just needs a number or two (preferably big ones) to make it spot on.
Surely a double digit % rise today?
You’d think (!)
13 June 2022
Molten Ventures Plc
("Molten Ventures", "Molten", "the Group" or the "Company")
FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2022
Molten Ventures (LSE: GROW, Euronext Dublin: GRW), a leading venture capital firm investing in and developing high growth digital technology businesses, today announces its final results for the year ended 31 March 2022.
Financial highlights
· £1,532m Gross Portfolio Value (31 March 2021: £984m)
· 37% Gross Portfolio fair value growth (31 March 2021: 51%)
· £311m Cash invested in the year, and a further £45m from EIS/VCT funds (year to 31 March 2021: £128m from plc and £34m from EIS/VCT funds)
· 937p NAV per share (31 March 2021: 743p)
· £78m plc cash (including restricted cash) (31 March 2021: £161m plc cash)
· £301m Profit after tax (year to 31 March 2021: £267m)
· £126m Cash proceeds from realisations (year to 31 March 2021: £206m)
· £108m Net funds raised during the year (31 March 2021: £107m)
· Operating costs (net of fee income) continue to be substantially less than the targeted 1% of year-end NAV
· £1,434m Net Assets (31 March 2021: £1,033m)
The above figures contain alternative performance measures ("APMs") - see Note 33 for reconciliation of APMs to IFRS measures.
Lower numbers than last year and several basic grammatical errors in Shaw’s summary.
“We’ll done John and the team”.
Not sure if this has been posted before, but it’s a really detailed “summary” of how parsortix fits into the cancer treatment world. Hope the link works!
http://rev.vu/79E81d?utm_campaign=Issue&utm_content=share&utm_medium=email&utm_source=Weekly+Stock+Market+News
I think “fantastic” is a slight exaggeration!!! Very positive though.
Crikey people are still ramping on here?! Just no need anymore surely? The SP was always going to dip after a 60% hike. The company is still not generating the big profits it surely will in a few years’ time. Don’t get carried away. Maybe trade part of your holding around the inevitable volatility?
Look at M&G and L&G as well.
I’m no accountant but I assume it’s adjusted to include contributions from the recently acquired constituent company. I think you’re being a little cynical, not that I can blame you with this SP in single figures!
“As a result, the Board is now expecting revenue and Adjusted EBITDA to be behind current market expectations for the current financial year with revenue of approximately £23 million (up c. 70% from £13.6 million in FY21) and Group Adjusted EBITDA of approximately £3.0 million (up c. 250% from £0.8 million in FY21).”
What more can any company achieve?! Great and profitable growth. Just missed “expectations”. Fook me!
Great minds!
Wow. I read the results update fairly positively, other than the missed expectations part of course. The market has obviously seen it as a catastrophe.
In any normal, functioning market, this would be a huge buying opportunity. On AIM it’s probably a massive falling knife!
Ludicrous.
Like most other investors I wish I’d not bought shares in this dumpling ! What has become even clearer recently is that a major shareholder has an absolute financial interest in a depressed share price and BOY ARE THEY MAKING THAT A REALITY.
The ONLY reason I’m not panicking and selling is that this ruthless shareholder has an interest in the SP going back up again. They are the volume in the market for this share. Literally the only volume. They absolutely control the share price.
The ENET directors have handed absolute control of our SP to a single investor. To raise cash they apparently don’t even need. Let that sink in.
The only action we can take is to try to monitor that shareholder and mirror what they do. Some of their actions will be visible. Like dipping below 5% like yesterday. When we think they have finished pulping the SP, we acquire shares when they do.
Small Cap Life just did a fairly balanced write up about the new joint venture:
finnCap announces that it has, today, acquired a 50% interest in Energise Limited ("Energise") a net zero and sustainability consultancy, based near Cambridge…
Mark doesn’t know quite how to feel about this one. It is clearly a big growth area where reporting etc. is now mandatory due to the influence of larger shareholders. Many companies will be struggling with this and welcome the help. I can see finnCap with their contacts driving lots of business in this area for the JV. On the other hand, the price they've paid isn't obviously cheap, and not all shareholders or managements value this sort of reporting.
We don't like JVs in principal, but today's deal is not the typical arrangement where the other company has a continuing business not part of the JV. The main concern is the price paid. £1.1m revenue / £0.1m EBITDA indicates it is subscale, presumably due to being early stage. An EBITDA valuation doesn't make much sense. Assuming 25% EBITDA margins at scale, EBITDA would be £0.3m, they are still effectively 15x EBITDA for 50%. So, a lot of the cost is option value on this growing strongly and has a sufficiently good outlook such that 6-8x EBITDA for the other half is good value.
Still, it aligns with the finnCap core mission of doing the right thing and helping clients to do the right thing. And it potentially looks very cheap having retained (in some form) the exceptional profits of recent years on their balance sheet and are now looking to use this to expand into complementary areas. Companies that do this well often get earnings growth and a multiple re-rating. We really need to see some 2023 forecasts to make any further judgement on this, though.
And it reflected that at 6p a share it’s not worth the trading fee to bother selling them. Or is that just me?
I’ve no idea why the market has reacted in this way to an RNS which has merely confirmed EXACTLY what the update on 10th March stated.
Even the good folk on here panicking about the ‘core business’ diminishing are missing the point. Cavendish is racing ahead, its contribution has gone from a quarter of total revenues to half, why not focus on that?
Total revenues are up, profits will be enviable and the dividend will still be outstanding thanks to the enormous cash pile that guarantees it for several years at least as Sam has stated. At this SP, you won’t find better value out there imo. I’m adding today.
You’re forgetting all those utter ****wombles at the credit ratings agencies.