Updates

Manolete

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.

Maiden full year results from Manolete were excellent with pretax profit of £6.8m (84% year-on-year growth) exceeding forecasts of £6.6m, itself an uplift on previous estimates for £6.0m. Revenues rose 30% to £13.8m while eps were 13p (2018: 8p). A maiden dividend of 1.49p was proposed while net cash was £9.7m.The business, which funds litigation against the directors of insolvent companies and related insolvency claims, grew new core UK insolvency cases by 103% from 29 to 59, excluding its separate Cartel Cases (anti-trust claims following fines by the EU competition authorities). The rate of growth has increased with 44 new cases begun in the last six months, driven by its higher profile as a listed ...

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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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