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UP Global Sourcing

December 2020

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.

  • Epic Code:
  • UPGS
  • Price:
  • 100p
I spoke with managing director Andrew Gossage shortly after UPGS put out results for the year to end July, which recorded a 6% sales decline to £115.7m. It was certainly a year of two halves. H1 had seen 3% sales growth. H2 was then hammered by store closures during Covid lockdown (March, April and May) and although  trading normalised in June and July as stores reopened and retailer purchasing restarted, H2 sales were still off 16%.  But UPGS has got through the lockdown with verve and ease. Normally I might have expected a 6% sales decline to be magnified into a 12% profits drop, but UPGS ebitda dropped by only 3.3% to £10.4m and Gossage explains that this all boiled down to significant productivity improvem ...

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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