Updates

Tremor - Hitting the ball out of park with +28% eps upgrade following last monthâ€™s upgrade

February 2021

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.

Tremor has walloped the ball out of the park with trading in December materially exceeding expectations. Results for the year ended 31 December will now be ahead of the ranges I outlined last month.FY20 revenue and EBITDA move up to US$404-408m and US$58-60m, respectively - in other words, c.US$10m of extra sales generated c.US$5m of extra profit and CEO Ofer Druker says growth is set to continue through 2021. In the light of the statement, Finncap upgraded eps +28% to 18.7 cents for FY20 with +16% to 24.8 cents this year. The two biggest shareholders, Toscafund and Mithaq, have been buying (24% and 15%) as has the company itself with a US$10m buyback underway. Stifel is expected to initiate shortly. Finncap is calling it to £ ...

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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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