Hi JAG,
Revisiting these high level numbers from a year ago I think your right - the market doesnt appear to be factoring in the quantum of performance fee due. If they earn $14m in performance fees for the year (most of that performance came in the last 6 months) then profit for the year might be somewhere near $20m and NPAT of $13m and given the EV of around $50m ($69m MC at 52c less $20m of cash ($13m from NPAT + $6m existing cash) today means that MAM would be trading on something like 4x.
Yes its 4x in a very good performance year but I expect it will rally when the numbers finally come out.
Are you numbers on the performance fees the same?
The costs will probably blow out a bit given bonuses I imagine so maybe $1-2m more higher.
Not factoring increased FUM from net funds flows as discussed this morning (I think there will be a delay but the funds will come).
Thoughts?
- Forums
- ASX - By Stock
- MAM
- Ann: Appendix 4D and HY19 Financial Report
Ann: Appendix 4D and HY19 Financial Report, page-73
-
- There are more pages in this discussion • 38 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add MAM (ASX) to my watchlist
|
|||||
Last
52.0¢ |
Change
-0.010(1.89%) |
Mkt cap ! $69.00M |
Open | High | Low | Value | Volume |
53.0¢ | 53.0¢ | 52.0¢ | $8.344K | 16.01K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5000 | 52.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
53.5¢ | 9000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5000 | 0.525 |
1 | 3430 | 0.500 |
2 | 5000 | 0.495 |
1 | 20833 | 0.480 |
1 | 2129 | 0.470 |
Price($) | Vol. | No. |
---|---|---|
0.535 | 9000 | 1 |
0.550 | 23828 | 1 |
0.560 | 98238 | 2 |
0.565 | 15002 | 1 |
0.575 | 6000 | 1 |
Last trade - 12.08pm 30/08/2024 (20 minute delay) ? |
Featured News
MAM (ASX) Chart |
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online