Updates

CentralNIC

May 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.

I have met with CNIC’s new management a couple of times since they took over from Bob Crawford, who was bundled out of the top job for being a bit of a deal junkie. The latest Q1 update shows sales were >US$194.9m, gross profit >US$45.8m and adjusted EBITDA >US$21.3m, up 24%, 15% and 15%, respectively. The new team are eschewing further deals in favour of organic growth and whilst the shares trade on a PE of just 7x, there are signs emerging that the growth may be slowing and this is why the shares have been trending sideways. Set stoploss at 110p. ...

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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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