A leading provider of software and services to the international education markets.
14-Dec-2017 – 79.22p – £155.3m – PER 23.9
Trading Update – Great headline “Board anticipates that Group revenues will be slightly ahead of expectations and the financial performance of the Group will be materially ahead”. This is good too – “Balance sheet remains strong, with no long-term debt. As previously indicated, the Group anticipates ending the year with a larger cash balance than reported in 2016”.
Looks all round OK here. I guess the main thing putting me off is the PER of 23.9 – I want to invest here but I just can’t bring myself too at this price. Decided to put it on the Watchlist, somewhere around the 70p level.
16-Aug-2018 – 89.4p – £175.3m – PER 22.6
Unaudited Results For The 6 Months To End June 2018 – Positive H1, FY unchanged.
This was on my Watchlist at an optimistic 70p (from the days when I used to wait for retracements). As it now seems reasonably priced here, I am going Neutral.