Miton (MGR)

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582
Miton MGR Logo

An investment management company that provides fund management services.

18-Jan-2018 – 40.4p – £69.7m – PER 12.6

Trading Update For The 12 Months To End December 2017 – Assets Under Management up 32% and overall financial performance expected to be in-line with management expectations.

I quite like this but need to look into it a little more, for now I will add it to my Watchlist, 35p.

Subsequently revised Watchlist price, 36p.

19-Mar-2018 – 38.63p – £66.7m – PER 11.7

Final Results For The 12 Months To End December 2017 – Impressive enough, AuM up by 21% for the year at £3,361 million (2016: £2,783 million), Adjusted PBT up by 33% to £6.8M (2016: £5.1 million), Dividend of 1.4p, up 40% reflecting confidence in future prospects and momentum in AuM with Cash of £19.9m (2016: £21.3 million).

I think if the yield was higher I would be tempted just to tuck these away for the income. For now I will remain Neutral.

24-Sep-2018 – 66.5p – £114.8m – PER 13.9

Interim Results For The 6 Months To End June 2018 – Revenue up 24.3%, Adjusted PBT up 51.7%, Adjusted Diluted EPS up about 50%.

I have been considering an investment here for a while and no idea why I am not yet involved – If I don’t buy in this week it will go on my Watchlist.

Subsequent note: I bought in here today.

18-Jan-2019 – 52p – £90m – PER 10.6

Trading Update For The 12 Months To End December 2018 – AuM up 14.5%, 2018 expected to be in-line with market expectations.

I am Long here (should really have sold out at about 60p (coming off it’s highs) but I just couldn’t justify it to myself) and I like this update.

18-Mar-2019 – 52p – £90m – PER 12.6

Results For The 12 Months To End December 2018 – AUM up 14%, Adjusted PBT up 34% (to £9.2m), £25.5m in Net Cash, Dividend up 43% and an Interim Dividend will be introduced this year.

I am Long here, I quite this this and will continue to hold – Even though I should really have sold out at about 60p (coming off it’s highs) but I just couldn’t justify it to myself. I am now hoping for some Broker upgrades here.

Subsequent note: Sold out here in March 2019, details in the monthly reports.

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