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Fairpoint - Non IVA business rises to 59% of profit

November 2012

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:
  • FRP
  • Price:
  • 86p
After the travails of the past, Fairpoint (FRP; 86p), a business, which specialises in providing advice and practical support to individuals in debt, finally seems to be coming into its own with brokers forecasting a doubling of eps to 12.8p this year to end December and a further increase to 13.6p next year. At 86p, that puts the shares on a prospective PE of just 6.7 dropping to 6.3. But the company is also suddenly cash-rich. Although it had debt of £2m last year, by the end of this year it will have net cash of at least £3m thanks to a recent recovery of VAT that had been wrongly charged. Old timers will recall that Fairpoint was previously known as Debt Free Direct. The business grew rapidly in the early part of the last de ...

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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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