OPM H1 trading update interview with Ian Smith, CEO

Wednesday, Dec 06 2017 by
3

1pm (LON:OPM) Ian Smith: H1 trading update interview

c. 8 mins

http://www.piworld.co.uk/2017/12/06/1pm-opm-h1-trading-update-december-2017/

What can we expect with the interim results? – 00:21
Based on broker forecasts it looks like results are H2 weighted, is that the case? – 01:17
Can you explain the exceptional items – 01:48
Can you tell us more about the organic growth? – 02:23
How’s the integration of the acquisitions going? – 03:32
Are any of the divisions out performing? – 04:38
Are you concerned about interest rate rises? – 05:18
The new funding facility – 05:50
Can you tell us more about the use of FinTech – 06:36
What’s the outlook for 1pm going forward – 07:37


Filed Under: Growth Investing, Interviews,

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1pm plc is a holding company. The Company provides financial services to the United Kingdom businesses. The Company finances a range of business assets to small and medium sized enterprises (SMEs). The Company offers small business loans, lease finance and hire purchase. The Company's leasing portfolio consists of a mixture of sectors and assets, such as garages, cleaners, fish and chip shops, and beauty salons. The Company offers equipment finance and hire purchase finance for various assets, such as Beauty equipment; Cleaning equipment; Manufacturing equipment; Medical equipment; Gym equipment; Catering/kitchen equipment; Restaurant/cafe/pub equipment; Copiers, faxes, scanners, projectors and printers; Security systems; Construction equipment; Furniture; Computers/Servers and hardware, and Telecoms equipment. The 1pm SME loan product is available to various businesses. The money borrowed can be used for various purposes, such as Audit fees, cash flow and Website design. more »

LSE Price
41.25p
Change
-1.3%
Mkt Cap (£m)
36.6
P/E (fwd)
5.5
Yield (fwd)
2.4



  Is LON:OPM fundamentally strong or weak? Find out More »


1 Post on this Thread show/hide all

shine66 6th Dec '17 1 of 1
2

Thanks for posting. I've had 1pm (LON:OPM) on a very short shortlist for a while and thought I'd missed the boat this morning with the unexpected trading update, which seems excellent. The Market is not as generous as it was late summer so only a small rise, which gives me plenty of time to procrastinate further.

There are a few things that I'm unsure about:

1. Is the market actually likely to re-rate an SME lender? It could remain very cheap for a very long time, especially if the div remains fairly meagre. (I'd like 5%, please.)

2. What about delivering profit growth if there is an economic downturn, when SME's start to struggle to keep up with payments? Admittedly the recent Hardman report (which is huge) reassures on that point but that's a question I'd have asked all the same, for a bit of reassurance.

3. Hardman also suggest the constant acquisition/equity dilution cycle may be largely over, a concern I've read elsewhere. Again, confirmation would have been worth having in this regard.

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