Updates

ME Group - Cavendish initiates with 350p price target

September 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.

ME Group has signed a partnership agreement with Motor Fuel, the UK’s largest independent forecourt operator, to install up to 300 Wash.ME Revolution laundry machines across the UK. That’s a sizeable chunk against the present estate of 1,462 machines in the UK and Ireland (5,957 globally). At a current average of £20k sales per machine at maturity, the 300 machines imply sales of £6m, although these locations have a higher footfall than average. Cavendish has recently initiated with a 350p price target, forecasting eps of 15.5p this year and 17.3p next, although there is clearly scope to beat this by some miles. Keep on buy list. ...

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Sanderson

Craneware

ME Group (July 2024)

ME Group - Results whack ball out of the park (March 2024)

ME Group - Revolution rollout set to climb from 180 to 250 machines a month (January 2024)

Me Group - Wash.ME divisional profit up 39% (November 2023)

Me Group (June 2023)

ME Group - Revolution rollout expands to 80-90 units (April 2023)

Me Group - Trading ahead of forecast (December 2022)

Me Group - Moves into food vending (January 2022)

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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