Updates

Manolete

April 2021

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.

Having bought back in after the shares closed over 280p for two days I was extremely disappointed by the subsequent profit warning. This is down to government intervention / support schemes temporarily reducing the number of companies entering insolvency.Manolete said it completed a further 43 insolvency litigation claims in Q3, bringing the running nine month total to 95 and 108 as at 26 January. That’s higher than the 54 for the whole of the previous year. The 95 generated gross settlement value of £23.9m. After payaways to insolvent estates and legal fees, Manolete kept £4.8m, a 60% increase. After overheads of £3.2m (FY’19: £3.0m) it generated £1.5m cash compared to a negligible outflow ...

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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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