Updates

IMImobile

December 2016

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 have come off the highs mainly due to the 30% crash in the Nigerian Naira – that represents 6% of IMI’s group sales and as no costs are incurred in Naira (as customers are served out of India), it has led to a £0.8m downgrade for the year, taking the shine off what was otherwise a sparkling set of H1 results.Sales in H1 were up 29% to £36m (16% organic excluding the acquisitions of TextLocal in the prior year and Archer during the period). Adjusted profit/eps up 26%/18% to £3.9m/4.8p. Gross profit went up 22% to £20.2m, which lagged revenue growth and was due to the inclusion of Archer (£1.5m gross profit), which is a lower margin bit. But as per usual, the grea ...

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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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