Arrow Global (ARW)

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A UK based company engaged in purchase, collection and servicing of non-performing loans – Acquiring defaulted loan portfolios from financial institutions, such as banks and credit card companies, as well as retail chains, student loans, motor credit, telecommunication firms and utility companies.

30-Aug-2018 – 257.5p – £438.0m – PER 5.93

Interim Results For The 6 Months To End June 2018 – Underlying PAT up 10% to £28.4m, EPS also up 10% from 14.8p to 16.3p – On track to finish the year in line with market expectations.

Well, this is quite interesting in that according to Stockopedia (Normalised) EPS is expected to be up almost 100% this year (to 37.3p). Stockopedia has this down as an Adventurous Value Trap and I wonder if it is or not. But, basically, I just don’t know enough or have enough conviction in the numbers to take a risk here – I will remain Neutral for now.

8-Nov-2018 – 199p – £345.5m – PER 4.58

Results For The 9 Months To End September 2018 – Quite encouraging and expects to meet FY expectations.

I am Neutral here but may well give this a closer look now. As mentioned previously, according to Stockopedia (Normalised) EPS is expected to be up almost 90% this year (to 36.2p) – It’s flagged as a Speculative Value Trap and I am wondering even more so if it’s worth now speculating on.

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