Updates

Equals

October 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 reviewed prospects in the April issue, since when the shares have barely looked back supported by a string of profit upgrades. Latest full year results are again “ahead of expectations.” H1 sales were up 43% to £45m mirroring the growth in transaction values, which grew 17% to £5,964m vs H2 22 and +43% vs H1 23. Pretax profit was up six-fold to £4.8m for eps +280% to 3.3p. Cash has risen to £17.9m, of which c.£1m is restricted. Whilst supplying international payments, cards and banking to consumers/small businesses and mid sized enterprises recorded sales of £8.4m and £14m, flat and up 16% sequentially, it is Solutions (its enterprise solution for cross border payments) that is the swing factor. Having only been launched in 2021 ...

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DotDigital

Ashtead Technology

Equals Group (February 2024)

Equals (August 2023)

Equals - Scope for material outperformance (June 2023)

Equals - Forecasts upgraded by 16% (April 2023)

Equals (May 2021)

Equals Group - Sales pivot to B2B - now 66% sales (November 2020)

Equals Group (March 2020)

Equals Group (November 2019)

Equals Group - Placing and open offer to raise Â£16m (September 2019)

Equals Group - New name for FairFX (July 2019)

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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