Published on: September 13, 2021

A focus on profitable growth opportunities.

The interim results and the commentary that accompanies the numbers make it clear that there are significant growth opportunities of which Anexo can take advantage. The balance between cash generation and investment in new business is again tipped in favour of the latter, as it was in the second half of FY 2020. It is also clear that the Group has favoured its credit hire and legal services businesses over further investment in emissions cases during the first half. With additional financing facilities under negotiation, Anexo looks, to us, to be in a position to deliver the strong growth that management foresees for the second half as market conditions continue to evolve positively. An interim dividend of 0.5p is proposed, underlining the Board’s confidence in the outlook for the Group. We upgrade revenues for this year and next but, conservatively we feel, leave profitability measure unchanged as the Group continues to invest in growth opportunities.

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