Hi, it’s Paul here.
Here is the placeholder for Tuesday’s reader comments.
Estimated timings for today’s report – similar to yesterday. I’ll start writing sections from late morning, then will work mainly in the afternoon. Estimated completion time: 5 pm.
SimplyBiz (LON:SBIZ)
Share price: 200pNo. shares: 96.8mMarket cap: £193.6m
Interim results
SimplyBiz (AIM: SBIZ), the independent provider of compliance and business services to financial advisers and financial institutions in the UK, today announces its unaudited results for the six months ended 30 June 2019.
The headline figures look great, but the growth has almost all come from an acquisition. Organic revenue growth was only 3%. Net debt looks a bit high too, so I’ll check out the balance sheet below.
Very good adjusted EBITDA margin, of 23.4%
Note that exceptional costs are very high, at £3.0m in H1 TY, and £3.8m in H1 LY – that’s worth checking out, to determine how exceptional these costs really are.
Outlook – sounds fine;
Trading has continued in line with the Board’s expectations, since the end of the period. The Group remains on track to achieve market expectations for earnings for the full year.
Stockopedia is showing 12.6p forecast EPS…
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