Manx Financial Group

Manx Financial Group (AIM: MFX)

Currency in GBP

Last close As at 22/09/2023

GBP0.19

▲ −2.75 (−12.50%)

Market capitalisation

GBP25m

Overview
Price performance
Financials
Research
Thematics

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.

Latest Insights

Financials |
Update

03.04.23

Manx Financial Group — Record PBT driven by niche growth strategy

Financials |
Update

01.11.22

Manx Financial Group — Strong H122, well positioned for macro headwinds

Financials |
Flash note

17.05.22

Manx Financial Group — Payment Assist acquisition

Financials |
Initiation

07.03.22

Manx Financial Group — Resilient, profitable and ready for growth

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Sector

Financials

Balance Sheet

Forecast net debt (£m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(8.3)	(12.5)	133.3
Relative	(13.1)	(13.7)	122.3
52 week high/low	29.0p/8.2p

Financials

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.