Member Info for petrencf

So next year's end (which starts in a month) there is a company with 28-30m EBIDTA, approx 50m debt with 1.7 leverage, with a MCap of 40m right now. EV/EBIDTA sholud be at least 4X conservatively which is 60-70p a share in 12 month. I sit out.

Has anybody read the reviews on glassdoor recently? They are horrendous. The company pays low salaries but still it could not increase profit despite doubling sales (2020 vs this year). Where will the sustainable growth come from?

Tbh I am a bit disappointed with their statement realting to an exit from Pulsiv. I hoped they could build a company with a future valuation above 200+ million. Otherwise good progress was made this year and only a small dillution.

That is great, but it would be even better if Sir Martin would put his hand into his pocket to buy some shares showing some confidence and belief.

I agree, similar numbers like at the interims.

If it is about only motor finance dca commissions you cant apply this calculation. They have a motor finace loanbook between 140-270m during 2014-2017 when they have DCA commission arrangements. If my calculation is correct you will have 2500-3000 consumer who can claim. I would say 3-5m maximum exposure. Moving the goalposts retrospecitvely is a madness anyway, UK looks like a third world county right now.

From January:

We note the FCA's recent announcement about discretionary motor finance commissions. We operated some discretionary commission arrangements until 2017. From 2014 to 2017, a mid-single digit proportion of our new vehicle finance loans included such arrangements. The FCA plans to set out its next steps in Q3 2024, when the implications for the industry should become clearer. We will provide further information to the market on these developments as appropriate.

They had a vehicle finance loanbook circa 160-180m that time. It is a small exposure, right?

Interestingly shorts have increased yesterday by 0.1 percent. Good timing, is not it?

From cityam:

“That will help to boost its balance sheet and put it in a stronger financial position to strengthen its currency division which is expected to be sold in the near future,” said Russ Mould, investment director of AJ Bell.

“It’s already held talks with interested parties but has kept quiet on who they are and how much they are willing to pay.”

From an article:

However, Barclays has sought to push back against the ombudsman by mounting a legal challenge.

This has paved the wave for a bitter High Court dispute, as the ombudsman has accused the bank of arguing “academic points”.

In its court filing, it said: “The claimant (Barclays) was given full opportunity to provide evidence that the car was not sold by the car dealer for a profit, but did not do so.”

If Barclays succeeds in its application for judicial review, the ruling could potentially throw a spanner in FCA’s investigation.

So the ombudsman said that Barclays need to prove that the car dealer did not sell the car for profit! Strange argument. Or just for me?

Wow, what a reversal. I did not see this coming.

The judicial review proceeding started by Barclays Partner Finance in relation to the Financial Ombudsman’s decision to uphold a DCA complaint, which will consider legal issues highly relevant to the FCA review. This hearing is scheduled to take place on 15-17 October 2024. This will be a “rolled-up hearing”, where the court will consider whether to grant permission and, if so, then hear the claim. Fingers crossed, sentiment could change quickly here.

The offer is 8xEbidta and circa 19xFCF this year. Not so low imo considering the shrinking revenues lately. But yes I would have been happier with 1.20 per share.

With an option for LTG shareholders to elect for an unlisted equity alternative in respect of some or all of their LTG shares (the "Proposal").

What does this mean?

General Atlantic (PE house] has offered about £1 per share for Learning Technologies...according to people with knowledge of the matter." - FT

What is happening?

Asa made a nice progress this year, profit tripled, dividend under review. Anybody still here?

Https://www.moneysavingexpert.com/news/2024/03/car-finance-complaints/

https://www.google.com/amp/s/www.derbytelegraph.co.uk/news/cost-of-living/martin-lewis-issues-update-millions-9448097.amp

According to an article 2m of complaints were lodged on the moneysavingexpert website at and of July . A previous update said only 2.4% of the first 1m complaints was related to Close Brothers. So that is roughly 50k complaints so far plus the complaints filed to the bank directly. Not too bad so far imo.

Mr Tillbrook is not willing to sell any shares so far. He has just bought some more for 200k. Nice.