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McColl's

September 2020

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.

  • Epic Code:
  • MCLS
  • Price:
  • 31p
Having spiked to 53.5p in June, the shares have retraced back towards where I recommended them. Mccoll’s has reported its H1 numbers, which have been distorted by the store optimisation in the past 12/18 months during which time 185 stores or 10% of the estate was exited. So whilst there was the expected lockdown bump, the smaller estate and a reduced amount of service income (lottery tickets, scratchcards, top-ups and ATM usage fees and so on) resulted in flattish H1 sales of £605m  - although underlying like-for-like growth was +8.3% and has accelerated to 14% in the first 15 weeks of H2.The change in product mix - less services as well as consumers making fewer impulse purchases - resulted in a gross margin of 2 ...

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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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