Steve Moore and I worked together at t1ps.com from the day he left University. He is a very talented young analyst and a man of utter principle which is why he quit t1ps. He is now working with my on my Nifty Fifty website but also writing off his own bat and I am keen to support that. Apart from anything else he talks a lot of sense. As such I bring you his analysis of tech stock ITE Group. Steve writes...
Shares in ITE Group (ITE), the FTSE 250 CIS, Turkey and increasingly India, South East Asia and China focused trade exhibitions and conferences organiser, have been strong recent performers – a current 279p share price up from 183.5p hit in November 2012 and 246.3p at which the shares commenced 2013. The following reviews the investment proposition here…
The company most recently updated in an AGM trading statement at the end of January – noting that “trading has been in line with management expectations for the first three months (to 31st December 2012) of the financial year” and that “current sales represent circa 66% of current market expectations which is consistent with our long-term average of bookings at this stage of the group’s financial year”. The balance sheet was noted to remain strong – with net cash at 24th January of approximately £16 million.
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