Updates

Alfa Financial

September 2022

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.

Another set of results and another special dividend. Latest interims served up a 3.5p special payment (£10.5m; ex 8 September), which takes total dividends since November 2020 to £100m. With cash of £20.8m (and it continuing to generate more cash than it needs), I expect this to continue. Alfa’s software is typically used to arrange leasing finance (cars but also plant and machinery) and to then track the fixed monthly payments. The latest H1 saw sales up 7% to £43.9m, pretax profit up 25% to £13.8m and eps up 32% to 3.9p. The quality of the income stream is improving in leaps and bounds. Alfa generates revenue in three key ways: 1) software licences; 2) ongoing development /services and 3) subscription fees (recurring mainte ...

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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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