Updates

Yu Group - Forecast eps of 188.9p rising to 212.8p next year

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.

I caught up with CEO Bobby Kalar post Yu’s interims. These show sales grew 60% from £195m to £313m with the number of supplied meter points rising 82% to 72.3m. However, underlying volumes of energy sold grew 110% despite the warm spring and there was also a drag effect from energy prices normalising back to pre covid levels (average price was down 25% to £297 per MWh). There were higher industry specific costs for distribution and generation; as energy prices fell, lower energy has also been priced into renewed contracts, whilst others came out of contracts and benefited from lower variable tariffs, all of which impacted gross margins (-3.5% to 13.7%). This was mitigated by smart meter deployments, which resulted in a lower prov ...

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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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