Updates

Arrow

September 2017

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.

When I made specialist debt collector Arrow a main Buy at 238p in November ‘13, I said it had the “hallmarks of a reliable performer.” The share price was a little slow to take off due to indigestion from a VC seller but lately there is no stopping it. The recent key news has been the replacement of a €335m bond with a 5.25% interest rate with a new 2025 €400m bond at an interest rate of Euribor+2.875%, producing a £6m P&L benefit, although it comes with a £26m cost. The move clearly demonstrates a better credit rating for Arrow. At the same time, Arrow has seen very high organic loan portfolio purchases. Jefferies has upgraded eps to 34p this year with a fabulous jump to 42p next year. ...

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Staffline

Growth Portfolio 3 - September '17

Arrow (December 2017)

Arrow (October 2016)

Arrow Global (June 2015)

Arrow (April 2015)

Arrow Global - Strongly eps enhancing acquisition (October 2014)

Arrow Global (September 2014)

Arrow Globall - Bumper Q1 for debt buying (June 2014)

Arrow Global - RBS overhang gone (April 2014)

Arrow Global - Buys student loans from government (December 2013)

Arrow Global - The hallmark of a reliable performer (November 2013)

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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