It's all systems go at Manolete (MANO ) .
Today the UK's #1 insolvency litigation funder confirmed that it had received all the £9.5m of cash expected from completing a large legal case - & as such, net debt had fallen to £6.5m (representing a comfortable 0.85x EBITDA).
What's more, CEO Steven Cooklin added that "new case enquiries [were also] rebounding sharply upwards".
Suggesting to investors like myself that the next 2-3 years could generate unprecedented demand for MANOLETE 's services.
Indeed I understand the company is already increasing capacity by recruiting some more specialist insolvencies lawyers.
In terms of the numbers, house broker Peel Hunt are forecasting revenues & adjusted EPS to climb this year to £13.9m (£11.2m LY) & 12.6p (8.1p) respectively, & £18.8m & 20.8p next.
Thus putting the shares on a modest CY+1 PER of 11.7x, alongside Peel Hunt's 310p/share target price.