Stock data
| Market cap. | £33m |
| Last close | 23.00p |
| High / Low (52 weeks) | 28.0p / 22.5p |
| Stock market listing | AIM |
| Forecast net debt (£m) | 14.7 |
| Forecast gearing ratio (%) | 87 |
| Team | Financials |
| Sector | Financials |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | 2.22 | 1.1 | (16.36) |
| Relative * | (2.64) | (5.62) | (13.67) |
* % Relative to local index
Other companies covered in sector
| Y/E Dec | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2009A | 14.1 | 2.2 | 2.7 | 1.28 | 18.0 | 17.1 |
| 2010A | 15.6 | 3.2 | 3.7 | 1.71 | 13.5 | 11.7 |
| 2011E | 15.1 | 2.4 | 2.8 | 1.40 | 16.4 | 14.8 |
| 2012E | 16.4 | 3.1 | 3.5 | 1.76 | 13.1 | 11.2 |
Last updated on 08/12/2011
Latest research
Market share data
Update | Financials | 26/10/2011
Interim results
Update | Financials | 10/08/2011
Quarterly market share
Update | Financials | 26/04/2011
2010: Running hard
Outlook | Financials | 01/03/2011
Trading update
Update | Financials | 21/12/2010
Q3 market share gains
Update | Financials | 01/11/2010
That was a lot of buyers
Flash note | Financials | 02/09/2010
Superior growth again
Update | Financials | 11/08/2010
Reliable progress
Outlook | Financials | 15/06/2010
Reliable progress
Update | Financials | 02/03/2010
Momentum maintained
Update | Financials | 29/10/2009
Strong H1, forecasts up
Review | Financials | 18/08/2009
Investment summary
Share plc has a multi-year record of market share gains in retail stockbroking, with many more years of above-market growth to come from this business. There are several adjacent businesses (especially in equity-related corporate services) that could provide further growth with strong operational gearing. Q311 market share data saw a small fall but this was largely due to differences in business mix - Share plc is less dependent on trading than peers (Q3 was very strong for trading) and more dependent on value-related fees (and markets fell in Q3). Year-to-date market share gains have continued as in the same period in 2010. The P/E is undemanding and other valuation measures also have upside.
Last updated on 09/12/2011
Industry outlook
We expect long-term market growth from the demographic, economic and social changes. The retail market may also see a huge step change when the government 'popularises' its holdings in banks (especially if given away). Share plc has consistently taken market share in normal trading conditions.
Last updated on 09/12/2011
Key management
| Sir Martin W Jacomb, Chairman |
| Gavin Oldham, CEO |
| Richard Stone, FD |
Company address
| Oxford House, Oxford Road Aylesbury Buckinghamshire HP21 8SZ United Kingdom +44 (0) 1296 41 41 41 View website |
