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Research Tree provides access to ongoing research coverage, media content and regulatory news on SPRING FG LTD. We currently have 2 research reports from 1 professional analysts.
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SPRING FG LTD
SPRING FG LTD
ASX Micro Cap - Financial Services - Spring Financial Group - Update on Acquisition - Target Price Revision
24 Mar 17
Spring FG (ASX: SFL) has announced the acquisition of financial service organisation Financial Choice Pty Ltd for a total commitment of $4.8M. Settlement is due in mid April, 2017. This comprises $2M cash on settlement, 2.5M SFL shares to be issued at $0.20 per share ($0.5M) plus a total of $2.3M cash comprising two deferred payments: $1.3M in 6 months time plus a $1M performance based payment in 18 months time. We have revised our target price for SFL from $0.225 up to $0.28 per share recognising the risk adjusted pro forma estimated increase in eps due to this acquisition, and the longer term growth options. On the assumption the acquisition meets all expectations, the associated risk profile would reduce and our valuation would increase to 31 cps.
31 Dec 16
Spring FG (ASX: SFL) was founded in 2010 and now provides a full range of financial and wealth management services to retail clients across the eastern seaboard of Australia. SFL specialises in SMSF and residential property investment advice, which are significant and strongly growing investment sectors in Australia - with $0.6T invested by retail investors in SMSF funds and an estimated $1.6T invested in property. The group differentiates itself from its competitors through offering a comprehensive range of financial services, including superannuation, property investment, accounting, taxation and related advice. The group’s centralised model ensures a holistic understanding of the client’s needs, and ensures tight control of the client. SFL expects to grow revenues strongly over the next few years as a result of strong industry dynamics, acquisitions and store development strategies. The range of services available from SFL include superannuation fund portfolio construction, property investment advice, accounting and taxation, educational seminars, eBooks and other resources, online based portfolio management tools, and personal advice. The management team has extensive experience with growing small businesses through building market leading technology platforms and through acquisitions. These strategies have established the differentiating capabilities of the company, and have established the infrastructure to support the projected growth of the company over several years.
Another positive verdict
20 Mar 17
Burford’s results for 2016 produced another outstanding set of figures. Revenue grew by 60% to $163.4m with strong growth in the litigation finance business and an additional boost from a secondary sale in the Petersen case. On an underlying basis net income grew to $114m, a 75% increase despite the investment in growing capacity which increased costs. A combination of ongoing investment and gains and increases on valuation saw the fair value of the litigation assets increase 67% to $559m, underpinned by a growth in invested capital to $394m. With the results statement there was an announcement of a further sale of 9% of the Petersen case at a valuation of 20 times the cost of investment.
N+1 Singer - Morning Song 22-03-2017
22 Mar 17
Carador Income Fund (CIFU LN) Premium rating restored, high levels of refinancing activity | Cello Group (CLL LN) Outlook getting brighter – watch Pulsar | Eckoh (ECK LN) Largest ever US secure payments win | eg solutions (EGS LN) Full year results in line | Futura Medical (FUM LN) Licensing deal for CSD500 in Portugal | Verona Pharma (VRP LN) Global agreement with QuintilesIMS to support development of RPL554 | Xaar (XAR LN) 2016 results slightly ahead, reduced visibility in 2017
Small Cap Breakfast
21 Mar 17
First Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.