Updates

UP Global Sourcing - Germany trading ahead of expectations

June 2018

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.

Schroders has waded into the market and mopped up the overhang in consumer goods firm, UPGS, taking its interest to 82m shares or 15%.Their buying looks perfectly timed. UPGS reported its interims this month and as expected it was a subdued period. Sales declined 28.9% to £48.4m and despite sustaining a flat gross margin of 22.4%, the impact of negative operational gearing took pretax profit down 48% to £4m, for eps of 3.8p. An interim dividend of 0.83p is proposed (ex div 6 July).The lower sales were down to several UK retailers having more erratic ordering patterns and in addition, there was a new landed supply arrangement put in place with “one of the fastest growth retailers on the continent.” Arou ...

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