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UP Global Sourcing

June 2022

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.

  • Epic Code:
  • UPGS
  • Price:
  • 125p
Interims, which reflect a first full contribution from Salter, showed sales rising 14% to £85.7m (2.6% like-for-like) and a 28.7% rise in EBITDA to £11.3m. Net debt rose from £1.5m to £30.3m reflecting that £31.1m deal as well as £16.4m increase in working capital. The latter reflects a unwinding from the low inventory during lockdown when online sales were so strong as well as  the current stock rebuild to prevent stock-outs in the face of the global supply chain problems. The standout was Supermarkets (sales +48.5% to £31.8m) reflecting strong growth in the UK and Continental Europe. International sales were again strong at +22.8% to £29m, with Germany a standout (+59% to £34.4m). Online sales increased 8.8% to £12.8m ...

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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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