Updates

UP Global Sourcing - Trading ahead of expectations

August 2019

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.

An unscheduled update from UPGS said it has continued to trade very strongly throughout H2 with better than expected revenue growth across each of its four strategic pillars - discounters, UK supermarkets, online platforms and international customers. As a result, profits are ahead of market expectations.My key question now would be whether some retail customers have been replenishing stock ahead of normal rates, potentially symptomatic of stock-piling in the market in anticipation of Brexit. That may be so. But against that UPGS has managed to beat forecasts despite Sterling hitting its weakest level in more than two years versus the dollar and a six-month low against the euro on threat of a no deal Brexit. Strong hold.< ...

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Fulham Shore

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