Updates

Fonix - Shares hit new high of 231p

March 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.

After a slow start, this TMI main write up and New Year Nap from February ‘21 at 141.5p has really fired up, hitting a recent high of 231p, a gain of 54%. Its update said H1 23 gross profit grew 12% to £7.8m and it is trading comfortably in line with unchanged FY23 forecasts for +8% gross profit to £14.3m. Encouragingly, it’s becoming more profitable; gross profit as a % of Total Payment Transactions (£137m) increased to 5.7% from 5.1% in H1 22. In the international operations, Fonix successfully launched with a second tier 1 media customer in Ireland, has a strong pipeline of other opportunities in the territory, and has increasing options for growth in other international markets, where it can leverage its Ireland experi ...

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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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