Updates

OneSavings Bank - Sector re-rated after Shawbrook bid

May 2017

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares hit a new high of 423p, helped by strong final results with pretax profit rising 29% to £137m and eps increasing 20% to 41.7p. Return on equity fell 3% to 29% reflecting the new 8% corporation tax surcharge but excluding the new tax it would have been 32%.Within the buy to let / SME lending division profits rose 26% to £192m. Gross loans to customers rose almost a third from £3.1bn to £4.1bn thanks to a 27% increase in new organic lending.Within that the largest contribution was buy-to-let, whose loan book rose 33% to £3.6bn, a triumph given the adverse changes to taxation in residential property, which have slowed down transactions. However, a significant proportion of its business co ...

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OneSavings Bank (October 2018)

OneSavings Bank (June 2018)

One Savings Bank - Challenger bank has Â£300m to make eps enhancing acquisitions (January 2017)

One Savings Bank - Too cheap on prospective PE of 5.6 (December 2016)

OneSavings Bank (May 2016)

OneSavings Bank - Q3 lending rises Â£548m (December 2015)

OneSavings Bank - Results ahead of expectations (November 2015)

One Savings Bank - Specialist buy-to-let lender growing at terrific rate (June 2015)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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