Updates

SQS

May 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.

SQS has reported FY16 results with sales up 20% to €320.7m helped by part period contributions from the three acquisitions of Bitmedia, Trissential and Galmont, the latter two fleshing out the US operations (excluding these, sales were up 7.5% organically). Adjusted pretax profit increased by 11% to €20.8m and eps was flattish at 40 cents due to a higher tax rate.Regular Testing Services is the original core of the business and declined by 3% to €99m but shows signs of stabilizing. The division provides software testing services onshore and has seen a competitive onslaught resulting in lower staff utilisation rates and gross margins off to 26.5% from 32.3%. A few years ago this was SQS’s mainstay but fort ...

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International Greetings

Entertainment One

SQS (January 2018)

SQS (October 2016)

SQS - 11th year of growth ahead despite some pains (October 2015)

SQS - Quadruples US presence with acquisition (July 2015)

SQS - Plans to make USâ€ˆacquisitions (April 2015)

SQS (April 2014)

SQS (December 2013)

SQS - Benefits from rupee depreciation (October 2013)

SQS - Managed services now 34% of work (April 2013)

SQS - Soggy statement creates a buy opportunity (February 2013)

SQS (December 2012)

SQS (July 2012)

SQS - Last remaining independent software testing business on a prospective PE of 9.7 (April 2012)

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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SQS