Corporate News

Progressive publishes new research

29 June 2020

Solid foundations in place

Anexo, the specialist integrated credit-hire and legal services business, has reported a record performance for FY 19 with numbers in line with previous guidance. The year saw good cash generation following the decision to focus on the Legal Services business while holding back growth of the Credit Hire business. A 0.5p final dividend strikes a balance between cash conservation and confidence in the outlook for the Group in uncertain times. Given the impact of COVID-19 on the wider operating environment, we think that the key focus should be on the Group's current positioning and its preparedness to operate in the evolving business environment. Although there is no update on guidance for estimates, we believe that the business is well-placed - particularly since the recent £7.5 million fundraise which underpinned the Group's options to accelerate growth without diminishing existing cash resources.

 

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About Progressive:

Progressive is an equity research and investor engagement company.  FCA authorised and regulated, the firm has a 15-strong team of highly experienced analysts.  We provide Institutional grade research and connect companies with investors across every sector of the market.

www.progressive-research.com

 

Broad coverage

Analyst calibre

across 12 sectors

 

 

 

Business Services

Oil & Gas

15
analysts

with average

20
years

Financials

Property

experience of

Healthcare

Retail

 

Industrials

Technology

30+

 

techMARK

Investment Trusts

Telecoms

industry based

Extel

Mining

Utilities

awards

StarMine

 

For further information please contact:

 

Emily Ritchie
+44 (0) 20 7781 5311
[email protected]