Updates

Arrow

October 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.

The key news that sent Arrow’s price sharply higher towards 300p once more was that it has replaced a £220m bond with a 7.875% interest rate sooner than expected with a new 2024 bond at an interest rate of 5.125%, producing a £6m p.a. P&L benefit. The move clearly demonstrates a better credit rating for Arrow whilst this time the share price ascent hasn’t been stopped by the VC overhang with it having been placed last year.A few days earlier Arrow reported strong H1 results. Total revenue went up 32% to £101.5m and pretax profit rose by 26% to £20.5m for eps up similarly to 10.9p.Subscribers will recall that Arrow’s mainstay is the acquisition of portfolios of non-performing loans ...

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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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