Updates

ASA International - Spectacular double digit EPS upgrades

November 2025

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.

Against its strategic goal of growing its loan book in more profitable, higher quality countries, microfinance lender ASA International has delivered strong interims triggering a third upgrade to forecasts in 2025. While the Gross Outstanding Loan Book (+37% YOY to US$541m) and loans overdue by more than 30 days were covered off in July, its latest update revealed the cost-to-income ratio has dramatically improved from 61.7% in H1 24 to 56.4% and net interest margin soared from 32.3% to an amazing 40%! Consequently, adjusted pretax profit grew 68% to US$47.8m and reported profit after tax was up 99% to US$26.8m, with West Africa a significant contributor. While the 32% appreciation in the Ghanaian cedi was clearly beneficial, even on a ...

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ASA International - Second forecast upgrade in three months (January 2026)

ASA International (December 2025)

ASA International - Could be 2026 recovery stock of the year (October 2025)

ASA International - Microfinance provider enjoys double eps upgrade but PE still just 4.1! (June 2025)

ASA International - International micro finance business on lowly soon-to-be prospective PE of 4.1 (November 2024)

ASA International (November 2019)

ASA International (July 2019)

ASA nternational - Net profit jumps 30% excluding currency headwinds (June 2019)

ASA International (January 2019)

ASA International - Exciting new issue in microfinance market (December 2018)

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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