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Tax Systems

June 2018

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:
  • TAX
  • Price:
  • 81.5p
Tax Systems, which supplies corporate tax systems, has reported 2017 results to end December with  pretax profit of £4.9m on sales of £15.1m. Eps were 4.2p. Net debt was £20.5m. The comparables against 2016 are a bit meaningless as the core operating business was only included for five months last year and also because it adopted IFRS 15 from 1 January and instead of recognising 90% of an annual licence on day one and then spreading the rest over 12 moths, it is now recognising licences over 12 equal monthly instalments.Revenue from annually renewable software licences amounted to £13.5m or 90% of total revenue, with £1.6m from services. Of that, the acquisition of OSMO, which brought in automated ...

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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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