Share (SHRE)

Business description

Share plc’s main subsidiary is The Share Centre, which is a self-select retail stockbroker that also offers share services for corporates and employees.

Stock data

Market cap.£38.8m
Last close27.00p
High / Low (52 weeks)29.0p / 22.8p
Stock market listingLN
Forecast net cash (£m)8.9
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual5.917.43.9
Relative *(0.6)22.1(0.4)

* % Relative to local index

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Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 14.6 (1.1) 0.0 0.0 N/A N/A
2017A 18.7 (0.4) 0.4 0.27 100.0 N/A
2018E 20.1 0.7 0.9 0.52 51.9 N/A
2019E 20.8 0.9 1.0 0.57 47.4 N/A

Last updated on 27/03/2018

Investment summary

Share’s FY17 results announcement continued the flow of encouraging news seen from previous updates. There was a strong increase in AUA and revenue (27% and 28% respectively) and a move into modest normalised pre-tax profits. The IT investment programme is well underway and is becoming more visible as App enhancements and website improvements come on stream. Underpinning this are projects to strengthen infrastructure on which client service and the business depends. Operational gearing has the potential to bring currently high prospective earnings multiples down rapidly.

Last updated on 06/04/2018

Industry outlook

The current year has already seen a spike in volatility and weakness in equity markets. However, the economic background appears reasonably encouraging and investor sentiment has shown resilience. More fundamentally the work that the group has done to improve its customer offering, IT platform and to expand its strategic partnerships should mean that it can grow to a more profitable scale through market cycles.

Last updated on 06/04/2018

Key management

Gavin Oldham, Chairman
Richard Stone, CEO
Mike Birkett, FD

Company address

Oxford House,
Oxford Road
Aylesbury
Buckinghamshire
HP21 8SZ
United Kingdom
+44 (0) 1296 41 41 41
View website