Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
International Personal Finance Plc Notice of investor briefing - 18 January 2023
Source: UK Regulatory (RNS & others)
TIDMIPF
RNS Number : 9947L
International Personal Finance Plc
09 January 2023
International Personal Finance plc
Notice of investor briefing on Wednesday 18 January 2023
International Personal Finance plc ("IPF" or the "Group") is pleased to announce that it will host the second investor briefing in its series of webinars providing insight into the Group's markets, strategy and operations.
The briefing featuring IPF's Mexico home credit business will be broadcast live from Puebla in Mexico at 15:00 GMT on Wednesday 18 January 2023, and hosted by the Group's CEO, Gerard Ryan and Country Manager, David Parkinson. The event will provide an opportunity for analysts and investors to learn about the home credit business' unique market position, the customers it serves and strong growth potential. No new financial information will be disclosed. The briefing, including a live Q&A, will last around 60 minutes and is open to
investors and analysts . To register for the webinar, please contact rachel.moran@ipfin.co.uk
A recording of the event and presentation materials will be available on the Group's website shortly after the
event at www.ipfin.co.uk
Agree, but what is going to get it to be rerated?
Think new leadership in some ways. Need a charismatic CEO who puts his own money in company shares to show his confidence and can sell company to investors. Feel Alex inhibits the company in this regard.
Now broken above 100p expect to move up and possibly retest previous 150p high of summer 2021. High progressive yield, excellent management, returning to previous pandemic growth levels of credit.
Agree. Think will be an achievement to finally break 50p strong resistance (will be 4th attempt since covid mar 20 collapse from 150p) and move to 60 to 70p range throughout rest of 2021. Then further evidence can see 2922 moving higher.
Also please note, current PE ratio is lowest of 70 companies in the professional and commercial services market.
For example, Serco (SRP) which has 17th lowest out of 70 has a current PE ratio of 13.7
Says it all! As I said my PE of 10 is very conservative and generally for this type of company would be higher at between 12 to 15.
Consensus analyst forecasts are:
2021 31 Dec FY 6.31p EPS 104.89m GBP net profit
2022 31 Dec FY 8.48p EPS 133.89m GBP net profit
At 42p this gives PE ratio of 6.3 for 21 and 4.95 for 22. This is far too low.
Even if we gave a conservative PE ratio of 10 this would equate to 63p SP for 21 and 84.8p SP for 22 respectively.
Hence, rerating going on!
(Bloomberg) -- Lloyds reported statutory pretax profit for
the second quarter that beat the average analyst estimate.
SECOND QUARTER RESULTS
* Statutory pretax profit GBP2.01 billion vs. loss
GBP676.0 million y/y, estimate GBP1.40 billion (Bloomberg
Consensus)
* Underlying profit GBP1.99 billion vs. loss GBP839.0
million y/y, estimate GBP1.72 billion (Bloomberg Consensus)
* Net interest income GBP2.74 billion, +8.4% y/y, estimate
GBP2.71 billion (Bloomberg Consensus)
* Net interest margin 2.51% vs. 2.40% y/y, estimate 2.49%
(Bloomberg Consensus)
* Return on tangible equity +24.4%
* Cost to Income Ratio 57.4% vs. 55.2% y/y, company-
compiled estimate 52.4%
* Common equity Tier 1 ratio 16.7%
FIRST HALF RESULTS
* Interim dividend per share 0.67p
Excellent results IMHO with dividend considered to ge reintroduced at year end.
Beazley plc results for period ended 30 June 2021
-- Profit before tax of $167.3m (30 June 2020: Loss before tax of $13.8m)
-- Return on equity (annualised) of 15% (30 June 2020: (1%))
-- Gross premiums written increased by 22% to $2,035.3 (30 June 2020: $1,663.9m)
-- Combined ratio of 94% (30 June 2020: 107%) -- Rate increase on renewal portfolio of 20% (30 June 2020: increase of 11%)
-- Prior year reserve releases of $95.7m (30 June 2020: $58.6m)
-- Net investment income of $83.6m (30 June 2020: $83.2m)
-- No interim dividend (30 June 2020: nil)
Costain, the smart infrastructure solutions company, today issues a trading update ahead of the publication of its half year results for the period ended 30 June 2021, on 25 August 21.
We have continued to operate productively with effective safety measures in place across all contracts. Underlying trading has remained profitable with good cash generation resulting in a strong net cash position of GBP113.0 million as at 30 June 2021 (30 June 2020: GBP140.9 million), ahead of our expectations. We have continued to secure new contracts in line with our strategic ambitions. This continued progress underpins our confidence in delivering further growth in profits this year, in line with the Board's expectations.
The order book at 30 June 2021 stands at GBP4.0 billion (30 June 2020: GBP4.2 billion), with c GBP1.2 billion secured for 2021. The Group's net cash position of GBP113.0 million comprised GBP100.0 million of cash, GBP57.0 million share of cash in joint operations and GBP44.0 million of drawn debt. The average month-end net cash balance for the period was GBP102.9 million (2020 half year: GBP56.3million).
This is what the CEO stated in December his 5 key short term milestones for this year to reach ultimate objectives:
1) being cash generative with positive net cash generation
2) increasing margins in both divisions to 3 to 4%. Complex projects commenced from Q3 2019 delivering 3 to 5% margin. Growth of higher margin sevices to 40% of profits, moving to target of 55%
3) Improved efficiency gains to allow to invest accross the business. £12m this year and £20m by 2024.
Let's see how they have got off to the year to achieve this and the tone of the forward looking statement.
If start to deliver can expect to see a rerating at this low SP levels and resulting SP increase
Agree Ian have loaded up in my pension last few months. Will gradually rise and as you say £6 is my person target as well. Sure, wont be immediate but can see a push to £3.80, £4 and then £4.50 which will all act as temporary resistance levels.
International Personal Finance
Upgrade to market expectations
15 June 2021
Since our Q1 trading update issued on 29 April 2021, the Group's operational performance has continued to be positive. Credit issued has been broadly in-line with our internal expectations despite tighter Covid-19 related restrictions in a number of our markets. As we highlighted in the Q1 trading update, our business plan assumed a weakening in collections performance due to subsequent waves of the pandemic in the first half of 2021. In contrast, our actual collections performance has continued to be very strong resulting in a faster-than-anticipated improvement in impairment as a percentage of revenue.
While we remain cautious given the dynamic Covid-19 environment, the faster-than-anticipated improvement in impairment in April and May is expected to result in a further improvement in the full-year impairment charge and a significantly stronger rebound in profitability in 2021 than was expected at the time of our Q1 trading update.
We may get a lift again north for US open unless their market opens weakly.
I agree not unexpected to see this drop a bit after very strong rise and new cheap placing shares hitting market and being turned for a quick profit. Expect to see a further drop next week maybe to 4p level which should provide support before next leg up hopefully and a higher high.
Hiscox Q1 Statement tomorrow. Be interested to see how they fair from a segment perspective.
Nuri
Good luck with your investments.
Sometimes patience is required especially with some stocks. I work in the area that MicroFocus is operating and can tell you things are very positive. Huge digital transformation projects taking place.
Schroders building recently mopping up cheap shares from 440p.
I see this very positive for the future.
I have an initial 1 year target of 800 to 1000p.
Q1 results out this morning.
Lower impairments than expected which will result in greater profitability than estimated.
CFO Justin to leave in July after 4 years for another opportunity in a different sector. Search for replacement underway. Ashame because he seemed very good, but people do change jobs. Hope replacement is as good.
Investors call at 9am often worth listening to.
Beazley have nearly doubled their revenue each year from $1,787m in 2015 to $2,911m in 2020 and forecast $3,736m in 2021.
Significant year on year revenue growth.
Made first net loss in 2020 of $46.1 in 2020. Forecast to make $244m profit in 2021. All previous years were profitable other than 2020. Note, 2019 was $234m net profit.
14 brokers estimates- 7 hold, 5 buy, 3 strong buy.
Was 600p before pandemic in Feb 2020.
Once we break the 365-380p resistance, next test 450p. Then up to 500p.
Think if Q1 update shows we are on the track we will start to see upwards momentum return.
Small initial exploratory position and will start to add when recovery comes.
See this heading to retest 50p resistance. Once that is finally broke think 40 to 50p levels will become a distant past. Once 50p broken next target will be 80p.This is assuming what we were told during results continues and is materialized.