Updates

Manolete

January 2020

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.

Manolete, which funds litigation against the directors of insolvent companies and related insolvency claims, produced terrific interim results. Capitalising on the higher profile gained by its public status, it is aggressively building its case portfolio with a 110% increase in the number of new cases to 65 in H1 20. This helped drive a 15% rise in revenues to £7.5m, comprising net unrealized sales of £5.6m and net realized gains of £1.9m. Pretax profit rose 42% to £4.3m with eps up 41% to 7.9p.Investment in cases grew 83% to £25.4m while returns on investment remain high. Manolete’s preferred measure, “average money multiple earned,” was a highly attractive 2.9x on 18 completed cases ...

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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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