Manx Financial Group (AIM: MFX)

Currency in GBP

Last close As at 26/05/2023


−1.00 (−4.08%)

Market capitalisation


Manx Financial Group is an Isle of Man-based diversified financial services group. Through its subsidiaries such as Conister Bank and Payment Assist, the group operates in resilient niche lending and financing markets in both the UK and the Isle of Man.



Balance Sheet

Forecast net debt (£m)


Forecast gearing ratio (%)


Share Price Performance

Price Performance
% 1M 3M 12M
Actual (13.0) 4.4 184.9
Relative (11.5) 6.6 179.6
52 week high/low 29.0p/8.0p


Manx Financial Group (MFG) has delivered impressive growth in a weak economy through its strategy of investing in niche markets. PBT rose 71% to a record £5.2m and net attributable profit rose 55% to £4.3m due to a combination of organic growth and an initial contribution from 50%-owned Payment Assist (PAL). Return on equity (ROE) expanded to 15.9% from 11.8% in 2021. PAL was consolidated for just over three months and contributed 13.5% of PBT in FY22. Hence, we calculate a pro-forma PBT run-rate of c £6–7m in FY22. Furthermore, MFG continues to enjoy positive momentum within its chosen scalable and economically resilient high-return businesses.

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2021A 18.0 N/A 3.0 1.97 11.9 9.6
2022A 24.4 N/A 5.2 3.15 7.5 5.8
2023E N/A N/A N/A N/A N/A N/A
2024E N/A N/A N/A N/A N/A N/A



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