Updates

Tungsten - Trading ahead of expectations in first four months

October 2014

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.

At Tungsten’s AGM last month, it was said that trading is ahead of budget for the first four months of FY15 and the company also reiterated its long term goal is to process US$1 trillion of invoices, finance US$100bn of invoices and generate US$10bn in annual savings through analytics.Anyone can make this kind of punchy projection but Tungsten has recently been signing up several significant new buyers to the network (GE, Siemens, Fresenius, BAT) and in July processed the highest monthly volume of transactions ever. It’s now going on a recruitment drive to hire 100 people. Reflecting this, Canaccord forecasts a loss of £16m this year to end April. The string of profit/eps in the following three years is &po ...

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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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