Updates

Volution

September 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.

Volution has guided for eps at the top end of expectations for the year ended 31 July, with underlying sales growth of 5% (Berenberg forecast: 3.5%) in spite of macro headwinds. Net debt / EBITDA was c. 1x. By region, the UK performed the best with residential markets strong while key account wins helped. Europe slowed in H2, particularly Germany given new build contraction and weakness in Nordics. Nevertheless, “regulatory drivers, service and product availability have helped drive market share,” says Berenberg. In addition to recent acquisitions in Slovenia and France it’s agreed to acquire New Zealand-based DVS Proven systems, a supplier of home ventilation focusing on mechanical ventilation with heat recovery for NZD 18 ...

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Judges Scientific

Vistry

Volution (December 2024)

Volution - Fantech deal drives shares £1 higher (November 2024)

Volution - Overdue another eps enhancing acquisition (September 2024)

Volution (May 2024)

Volution (February 2024)

Volution - Shares rally after forecasts nudged higher (December 2023)

Volution - Four-fold profit growth in 13 years for heating & ventilation specialist (May 2023)

Volution - Supplier of ventilation systems benefits from upturn in building activity (January 2015)

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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