Time Finance (TIME)

[OLTB]

Morning all

Interim results here https://investegate.co.uk/1pm-plc--opm- ... 00021898N/ which all look good to me and first interim dividend declared. I have topped up twice into this share and intend on holding for the long term.

Cheers, OLTB.

[WickedLester]

I bought some of these recently too. The p/e seems reasonable, the balance sheet is not bad and the company appears to be growing respectably.

I wonder if the market thinks this is another TMMG, a share which is always priced as though its prospects are poor but still seems to grow every year.

[OLTB]

Frustrating isn't it - I also hold TMMG and both seem to be very good value but not reflected in the share price. I think that if they keep doing that they're doing, eventually a bigger fish will come along and think, 'I'll have some of that' and that's when the pay off will be.

Cheers, OLTB.

[WickedLester]

I sold my TMMG a while ago for a reasonable profit, mainly because I also hold some JWNG which hasn't performed as well as i'd hoped so far but which I haven't yet given up on.

One of the other reasons I sold TMMG is their habit of constantly making acquisitions which is ok when times are good but IMO leaves them exposed during hard times. I always wanted them to take a break for a couple of years and let their decent cash generation strengthen the balance sheet to the point where they may have become more appealing to investors. I had some Creston which did this and you could track the improvement from a position of net tangible liabilities to one of substantial net tangible assets over the course of a few years. They got taken out in the end and I did alright out of them.

Anyway, sorry for taking the thread OT.

[OLTB]

Thanks WickedLester - it’s always interesting to hear thoughts from other investors as I am a novice at the small caps.

Cheers, OLTB.

[OLTB]

By the way, there's an 11 minute video presentation by two of the directors on the results here https://www.piworld.co.uk/2019/01/16/1p ... uary-2019/ from PI World. It's very detailed and recommend it.

Cheers, OLTB.

[WickedLester]

Trading update from TMMG this morning:

https://www.investegate.co.uk/mission-m ... 00106918N/

It sounds like they've had a good year and debt is under control. It's hard to make out what they expect from next year from that TU, hopefully another successful year.

[WickedLester]

Have OPM now fallen unreasonably far on the last trading update?

https://www.investegate.co.uk/1pm-plc-- ... 00102634D/

I bought some more for around 33p as I am not too worried about a year of consolidation if they can return to making the sort of profit they have this year in future years. The shares are now trading at around the level of net tangible assets.

I guess there may be some worry that we are heading into recession and a commensurate increase in bad debts but other than that they look very cheap to me.

Lester

[SentimentRules]

Two big lumps of money went into this Lester.At 35.8p 2013. When under that it was always going to head for the second largest bulk at 25.1p July 2013. There, or 22.9p must hold. Or there will be a last exodus i would think.

Trying to find any interest outside retail. Not seeing it. Hopefully they turn up at the prices above. If Not, not good at all.

[Pendrainllwyn]

Have OPM now fallen unreasonably far on the last trading update?

I was looking at this at the weekend and thinking the same. I am going to wait and hope for a lower price but it looks like a good entry point to me if one is willing to be patient.

Pendrainllwyn

[OLTB]

I have bought in a few times at 53.75p, 43.19p and 31.35p. I don't understand the share price reaction as I didn't think that the last TU was that bad. Having looked at other investor comments elsewhere, it may be a case of always jam tomorrow with OPM, however, simplifying brands and spending on increasing salesforce seemed sensible. I'm glad that a dividend programme was started last year and with a 30% dividend increase built in, hopefully that might appease some.

Cheers, OLTB.

[SentimentRules]

Dividend programme might appease some, but I think it's played a big part in affecting SP..

Introducing a div programme when the markets are punishing major blue chips for yields at this stage of the macro game was not sensible.

You could even go as far as askimg:

Was it introduced to help reward the board before the fat lady signs? And market sussed it? All questions to be considered.

[AleisterCrowley]

Was it introduced to help reward the board before the fat lady signs?

A special performance for the deaf?

[SentimentRules]

Haven't looked at what their performance related share bonuses are. Would tell you something.

Even Nick reed at Vodafone got 'performance related stocks'. Must have killed him to cut dividend lol

Not for the deaf. For the blind. When they hear her sing they think it's a good thing.

But you never know. Still above the prices i mentioned. Maybe they step in above the prices. No sign yet.

Rises and falls always make sense. Either the market like it or don't. Doesn't really matter what we think. What the fundamentals say. It's what the money does that determines it.

Give me a sign of money sniffing any day and il ignore all negative fundamentals and buy.

[OLTB]

Morning all - final results here https://www.investegate.co.uk/article.a ... 700075452N

Seems to read well - Revenue up, EPS up, dividend up by 29%, return on net assets up, borrowing down.

Share price up about 5% at the moment.

I'm still down capital wise on my original investment(s), but holding on...the last update earlier this year to end May 2020 suggested this year was one of investment and consolidation - fingers crossed for a robust 2020 then!

Cheers, OLTB.

[WickedLester]

I agree. The results read fairly well. I'm also down on my investment but these seem like a decent hold to me.

I notice there was some director buying the other day but it was fairly token amounts. Maybe they're not as confident of the company's prospects as we'd like.

I guess the coming year may not be as good but if it is just one year of consolidation then I don't think it is anything to worry about.

I'll continue to hold.

[OLTB]

I agree. The results read fairly well. I'm also down on my investment but these seem like a decent hold to me.

I notice there was some director buying the other day but it was fairly token amounts. Maybe they're not as confident of the company's prospects as we'd like.

I guess the coming year may not be as good but if it is just one year of consolidation then I don't think it is anything to worry about.

I'll continue to hold.

Same here - I will continue to hold, although it is an achingly frustrating share. At least the directors are buying, but that short spurt of optimism was swiftly rebuffed. They are exhibiting and presenting at the next Mello event in November so hopefully they may have some answers about how they are planning to boost the current flaccid share price.

Cheers, OLTB.

[WickedLester]

Is anyone still holding these?

I am but I am worried that they will see a sharp rise in bad debt because of the lockdown. Hopefully the balance sheet is strong enough that they can survive and should then look cheap when normality resumes but it's not cut and dried.

[OLTB]

Hi WL

Yes, I’m still holding and from Twitter, they appear to still be lending - I’m sure there are plenty of businesses wanting funding but as you say, it’s the ability for these businesses to be able to repay these loans that counts.

I’m not thinking of selling as I’m about 50% down and will wait this one out - certainly not topping up though.

Cheers, OLTB.

[OLTB]

Morning all

On Friday evening it appears that someone with deep pockets bought 17,796,173 shares in OPM at a cost of £4m which is approximately 20% of the company's value. This wasn't reflected in the share price at the time, but has boosted the share price this morning up to 20p.

There is no rns regarding the purchase, so I'm not too sure what to make of it!

Cheers, OLTB.