Updates

GB Group

July 2023

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.

Latest full year results were no worse than had been flagged. Whilst verifying cryptocurrency customers saw reduced volumes (down from £20m in FY22 to c. £5m in FY23). As it was sales were +15% to £278.8m (organic 3.7%). Pretax profit was down 6% to £53.4m. Eps were 16.4p, down from FY22’s 20.2p. Adjusted EBIT was £59.8m, a 21.5% margin. Things are therefore no worse than had been said in February and based on current forecasts of eps of 15.2p this year to end March and 17.9p next, GB’s prospective PE is now just 15.1 against an average in the past 10 years of 31x. Net debt stands at £105.9m for a net debt/EBITDA ratio of 1.7x in FY23 but with high levels of repeat income/strong customer retention it is expected to drop to c. 1.25 ...

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Marks Electrical

Volex - Transformational deal produces 14% eps upgrade

GB Group (November 2023)

GB Group (August 2023)

GB Group (May 2023)

GB Group - Increasingly US-weighted; unmarried but not unloved (March 2023)

GB Group (November 2022)

GB Group (October 2022)

GB Group (December 2021)

GB Group - Shares soar after H1 organic growth of +18% unveiled (November 2019)

GB Group - Buys US based ID verification business (March 2019)

GB Group - International growth only beginning (January 2019)

GB Group (May 2018)

GB Group (January 2018)

GB Group - New CEO internationalising the business (June 2017)

GB Group (May 2017)

GB Group - New CEO set to grow international sales (January 2017)

GB Group (November 2014)

GB Group (May 2013)

GB Group (December 2012)

GB Group (November 2012)

GB Group - High level of repeat revenue (June 2012)

GB Group (July 2006)

GB Group - Plans international expansion (May 2006)

GB Group - Hopes to win retail bank contract (January 2006)

GB Group (December 2005)

GB Group (October 2005)

GB Group - URU sales to triple this year and next (September 2005)

GB Group (July 2005)

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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