Good morning from Paul! There's hardly any news today, and I'm suffering a bit from having my covid/flu jabs yesterday (nothing serious, just a bit groggy), so apologies for this report being a  bit sparse.

Agenda - 

Paul's Section:

Premier Miton (LON:PMI) - full year results for this fund management company. Very simple accounts, and this share looks attractively cheap on a PER basis, with very generous divis too. Balance sheet is adequate, but not a huge amount of asset backing. Thumbs up from me.


Explanatory notes -

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Premier Miton (LON:PMI)

106p (up 16% at 09:03)

Market cap £154m

Full Year Results

Premier Miton Group plc ('Premier Miton', 'Company' or 'Group'), the AIM quoted fund management group, today announces its final results for the year ended 30 September 2022.

Graham normally covers this sector, and has been flagging up lots of cheap brokers & fund manager shares of late. Obviously they’re cyclical, and earnings drop when markets drop. As we’ve discussed here before, it makes sense to buy these cyclical shares when sentiment is on the floor, then sit back and enjoy (hopefully) a share price recovery, and a decent flow of divis.

Some key numbers from PMI today for FY 9/2022 -

Assets under management (AuM) fell from £13.9bn a year ago, to £10.6bn at 30 Sept 2022 - of which £1,076m was client outflows, with the rest being market…

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