Our opinion on the current state of MMP

Marshall (MMP) say the following about their business: "Based in the UK, with strategically located offices, globally, Marshall Monteagle PLC is a diversified investment holding company. The company provides procurement, logistics and trading in various hard and soft commodities, industrial raw materials, consumer food and non-food products. Other non-operational investments include Commercial & Industrial Properties and listed equities.” In its results for the year to 31st March 2023 the company reported revenue down 38% and a headline loss of 4,4c per share compared with a profit of 7,9c in the 18 months to 31st March 2022. The company said, "As a result of the change in year end of the Company in 2022, the previous financial accounts for the period ending 31 March 2022 was for an 18 month period. When compared to the current 12 month period to 31 March 2023, it should be highlighted that this can have a skewing effect on the percentage figures". In a trading statement for the six months to 30th September 2023 the company estimated that headline earnings per share (HEPS) would be 2,2c (US) compared with a loss of 6,9c in the previous period. This share is too thinly traded to be of interest to private investors with only R15 000 worth of shares changing hands each day on average.