Now for something a little boring Ultimate Finance Group UFG (SPECIALITY AND FINANCE).
What does it do:-
Provides recourse factoring, invoice discounting and confidential invoice discounting. I told you it was boring.
The following has been lifted from the 7th September 2005 Finals.
* Group generates first profit on ordinary activities before taxation,
#20,581, since trading commenced three years ago (2004: #338,609 loss)
* Client sales financed up 104% to #82.5 million (2004: #40.4 million)
* Turnover up 95% to #2,309,728 (2004: #1,183,506)
* Sustained growth in client numbers continues, up 61% to 171 clients
* Total client advances approaching #10 million
* New sales office opened in Birmingham servicing the Midlands
* New products added to range to enhance revenue from existing client base and
broaden market appeal
* Current financial year has started well and Directors confident of continued
growth
OK the margins are not brilliant compared to other sectors but thats the nature of the business, but look at some of the figs turnover up 95%, clients increased by 61%, new products added and new office opened in Birmingham which is "currently performing ahead of target with a solid new business pipeline building for the year ahead". I have saliva dripping from the side of my snout, who said this was a boring little company
On October 19th UFG said trading in the current financial year 2005/06 to date is line with its expectations. They should give another statement around end of Jan.
Ok Lets cut to the chase this company is not sexy and I won't be praying every day for some news flow because there won't be any. You will get trading staements and results and that will be it, if its going to double it won't be on speculation but it will be on its pure performance.
20M shares in circulation and CEO Brian Sumner has nearly 7m and other directors approx 5m.(I have some too)They have all put something in their pockets and bought more this year at just under current mid market price 19.75p.
