Updates

Made Tech

February 2023

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.

Another of SCSW’s NAPS to take off this month. H1 sales were better than expected, +76% to £20.6m. It also had its strongest quarter of bookings ever with £27m won in Q3, leaving a backlog of £48m (+53%). Gross margins were 33% but the good news is that the company has rotated away from expensive contractors to its own staff and so H2 margins are likely to be materially better (Singer forecasts 43%). The contracts include a doubling of scope for the DVLA (£14m/2yr) and another with the Department for Levelling Up (now worth £8m/4yrs) and the Cabinet Office (worth £5m/2yrs). Buy ahead of results on 24 February. ...

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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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