Updates

Brave Bison

October 2024

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.

Brave Bison has delivered a strong H1 trading update and said it now expects to surpass market expectations. It wasn’t any great surprise to see this - I had said that last month, after noting it had already booked 50% of the target for the year and H2 is traditionally stronger. In light of the statement, Cavendish upgrades to £3.6m pretax profit. A slight dip in sales from £16.9m to £15.6m includes pass-through costs, so a better KPI is gross profit and how efficiently this converts into operating profit. Gross profit was flat at £10.1m despite stepping away from low-margin contracts in its US Social Chain operations but adjusted pretax profit rose 20% to £1.8m (eps up 17% to 0.14p), alongside an increase in pretax margins from 15.2% to ...

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Brave Bison (September 2024)

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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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