Manolete Partners (LSE:MANO) expects to report full-year realised revenue of around £28 million for the period ending 31 March 2026, slightly lower than the prior year but consistent with earlier guidance. A stronger second half, marked by the completion of several higher-value and higher-margin cases, helped support overall performance.
Gross cash receipts increased to £26.6 million, while net debt rose modestly to £11.5 million. Adjusted realised profit before tax is forecast at £1.9 million. However, the company is considering provisions of up to £2 million related to delays in debtor payments, which together represent a net exposure of £4.7 million.
Operationally, Manolete has continued to build momentum. Investment in legal and business development teams contributed to new case signings valued at £32 million during the year. This expansion drove a 37% increase in the forward case book, which now stands at £67 million, with a growing share of larger claims exceeding £0.5 million in value.
Management also pointed to leadership changes and board updates, alongside an improving UK insolvency market backdrop, as factors supporting confidence in stronger revenue and profit growth in FY27. The company believes its expanding pipeline reinforces its position as a leading player in insolvency litigation funding.
Despite these positives, the outlook remains mixed. Profitability continues to fluctuate, and cash conversion remains inconsistent. Market indicators are also weak, with the share price trading below key technical levels. Valuation support is limited due to a relatively high price-to-earnings ratio, although recent commentary highlights some improvement in cash balances and a reduction in net debt, partially offsetting softer revenue trends and portfolio adjustments.
More about Manolete Partners Plc
Manolete Partners Plc is a UK-based specialist in financing insolvency-related legal claims. The company works with insolvency practitioners to fund and manage litigation cases, targeting recoveries from claims on behalf of creditors. Operating in a market estimated at around £500 million annually, Manolete has handled more than 1,400 cases and has received multiple industry awards and high rankings in legal sector guides.
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