Member Info for Forensic505

Burford get yet another new CFO. More CFOs than Man Utd have had managers! Maybe they should bring back the CEO's wife as the CFO, at least they seemed to agree on everything.

Completely agree Hardboy. Not expecting anything from the interims, but H2 should mark the start of the new "post-Covid" era (exactly because of the time lag you point to - lets remember that the Government only restored normal insolvency laws in March 2022). With so many tailwinds in its favour, I expect the performance to build strongly from then on and last for an extended period of years. Begbies and FRP should also be big beneficiaries but I think an element of that is already priced into their shares. Less so for MANO. But that is just my own analysis, as ever DYOR of course and good luck. Interesting times....

Da_Master: I had the exact same thought! Likely he’s from a wanna be competitor…not so clever at covering his tracks, hope he’s a bit more competent at funding lol

Christopher55 - this has been an obvious factor to address in their model which is why when they established the business (in the teeth of the financial crisis of 2008) they set up an in house Net Worth review team, which assesses the financial viability of directors (and other potential defendants) before even considering legal merits of a potential case.

Well said Tommy15. At their last announcement the management clearly pointed to H2 of the current financial year for signs of the increased insolvency rate filtering through into their numbers. From then on, things should be on a strong trajectory. As you say, patience and use this opportunity to grab an attractive entry price. GLA and DYOR.

Burg1: I sympathise and agree. I am not a holder (but might be soon). I think their Cavendish sell side business is worth the market cap alone. I am sure it will correct, in time. Good luck.

Agreed Yuri.

Personnel costs are 62% of revenue. Almost as bad as a football club !!

But this is the problem of converting a partnership into a PLC. The Partners want it all: shares AND big pay.

Plus FRP’s part of market (Administrations) is in decline (22%) even though Liquidations (Begbies and Manolete) is up 100% plus.

We saw what happened to Tenon and Vantis - both failed in the 2000s after IPO. FRP literally is the old Vantis business under a new brand….not saying the same will happen as they have a good team now but they are in the wrong market segment.

RNS today: if i am reading this correctly, another institution building their stake. Encouraging.

Reassuring results. Based on the underlying EPS of 17p, this is trading on 6x PER. Very cheap. Good upside potential imho but dyor of course.

Lost faith here. For years I have watched the LIT CEO telling us the cases resolve in two years. Now he says 4 years. Reminds me of a certain (nearly former) Prime Minister ! Taken my medicine today. GLA.

Ameriprise Financial, Inc have doubled their investment to 10%. Big move...

I agree darientaylor. KGH is very similar to Gateley. Gateley is valued at £247m. KGH at £74m. The market really should close that gap, its simply not right, imho. Gateley probably overvalued but KGH very undervalued. I have added significantly today. Always DYOR of course but this could easily be back up to 130-150p before too long.

I do agree with "Theborn". They cant lose the Cartel cases as liability has been established, those cases are all about how much they will receive and not "if" they will receive anything. But whatever the actual damages turn out to be (even if its very good) it really is a one off set of cases and should be largely ignored for valuation purposes in my opinion - as management have always said cases like this are unlikely to repeat. As "Theborn" says the value of Mano is all about its bread and butter UK insolvency cases. That looks attractive/very attractive for the foreseeable.

I agree. Long term this is an attractive price. But takes balls to invest in the current economic environment!

By Lord Lee. Not the Lord Leigh who is the Mano chairman !

Da_Master: your homework needs correcting! The Founders of Burford (Bogart and Molot) sold well over $100m of their shares at £18 per share. Their buying since there has been a tiny fraction of that (around 3%). Fact.

50k at 300p. This is only going one way….

Agree with oldbutnowisa. This share was at 600p before the Government unleashed the huge economic support during Covid. All those supports have now been removed. Good upside potential from this point imho.

Beech sold £50m at £4 a share. Good to see him generously support putting 2% back in….not.

Very telling that none of the Dirs are stepping in to buy at 25% of their sale price. Easier than robbing a bank I suppose…