This feature looks at the increasing trend for companies to present adjusted financial figures and/or APM (alternative performance measures) and asks whether it may say something about the companies themselves. For example, do companies which provide unadjusted numbers make better long-term investments? Fund manager David Beggs at Sanford DeLand believes that may be the case, telling Shares:...

Tech firm lowers guidance Blames 'challenging' market Pain partly self-inflicted Shares in FTSE 250 value-added software and service reseller Bytes Technology Group (BYIT) were mauled after the firm warned its performance in the first few months of its financial year had been beset by 'challenging' market conditions. The stock price fell as much as 140p or 27% to 369p, before leveling out at...

Half-year results beat consensusFull-year profit guidance raisedShares hit 12-month highShares in Softcat (SCT) gained over 12% to a new year-high of £18.22 in morning trading as the software and IT services firm promised investors another year of 10%-plus profit growth.After posting six-month sales and earnings which topped estimates, the company said operating earnings for the year to July...

Baillie Gifford UK Growth Trust (BGUK) 180pMarket cap: £251 millionWhile 2024 has been a reasonable year for growth investors generally, for those looking just at the UK it has still required patience and a need to stay focused on the fundamentals.As Baillie Gifford director James Budden put it at the firm's latest private investor forum, inflation, rising interest rates and geopolitics have...

Now the ballots have been cast at the general election, the UK could become the 'reassuringly boring' market, both politically and fiscally, when compared to the more extreme politics on the other side of the English Channel and Atlantic Ocean.So suggests Jean Roche, manager of the Schroder UK Mid Cap Fund (SCP), who notes capital allocators know more or less what to expect, which could...

Stock prices in London were mixed on Tuesday morning, while supermarkets rose as the BRC-NielsenIQ shop price index slowed to its lowest annual rate of increase since November 2021.The FTSE 100 index opened down 9.41 points, or 0.1%, at 8,307.61. The FTSE 250 was up 40.63 points, or 0.2%, at 20,811.44, and the AIM All-Share was up 1.38 points, or 0.2%, at 811.17.The Cboe UK 100 was down 0.1%...

Breedon purchase related to non-exec chairmanSofcat sale related to current chief executiveLight Science Technologies director buys sharesA PCA or person closely associated to Amit Bhatia, non-executive chair of construction materials giant Breedon (BREE:AIM), bought 1.1 million shares at 383p for a total value of £4,210,250 on 10 May.The purchase was made through Abicad Holding Limited,...

Fund outperforms benchmark in 2023Dividend increases by 7% to 7.65pShares sit at 13% discount to NAVMid- and small-cap UK growth investor Mercantile Investment Trust (MRC) outperformed its benchmark in the year to 31 January, delivering a net asset total return of 4.5% and total shareholder returns of 6.1%.The dividend was increased by 7% for the year to 7.65p per share, comfortably covered by...

The FTSE 100 came off session lows but still struggled to find its groove heading into Tuesday afternoon, with share price falls for miners meaning it underperformed continental peers.The FTSE 100 index was up just 3.00 points at 7,920.57. The FTSE 250 was up a more convincing 90.13 points, 0.5%, at 19,703.66, while the AIM All-Share was down just 0.02 of a point at 737.24.The Cboe UK 100 was...

There were several trends in the UK stock market this year which, if you managed to identify them, served you well.Most obviously, although it may not have seemed it at the index level, large-cap stocks generally performed better than small- and mid-caps, although for the lucky few the small-cap space has been rife with takeover activity.In terms of sectors, aerospace and defence topped the...

If there is one thing investors can agree on, it is that the UK stock market is cheap.How cheap depends on who you ask, but the strategy team at Morgan Stanley believe the FTSE 100 is trading at a 35% discount to the MSCI World Index on a PE (price to earnings) basis.If inflation pressures continue to ease and the economy shows further signs of cooling, there is a fair chance the Bank of...

Specialist distributor of AV (audio visual) equipment to the trade market Midwich (MIDW:AIM) has established a strong track record of growth since coming to the stock market in 2016.Although there are added risks to consider when investing in smaller companies, we believe Midwich is a great opportunity to buy above average growth at a below average price.Sales and adjusted operating profit...

It has been difficult to ignore the renewed sense of optimism creeping into stock markets this year. Misery has been replaced by a watchful brightness, and nowhere has this sheen reflected better than among software growth stocks.After tumbling more than a third in 2022, the US-listed iShares Expanded Tech-Software Sector ETF (IGV:BATS), comprised of many of the major enterprise software...

There have been some notable dividend increases in recent weeks from well-known companies on the stock market including a 31% hike from advertising group WPP (WPP) while banking giant HSBC (HSBA) raised its ordinary dividend by 28% on top of comments that it might pay a special dividend once the sale of its Canadian business has completed.Even more impressively, mining services company Weir...

- ASOS close to appointing restructuring advisors- M&Co collapses into administration- Julian Dunkerton in talks to take Superdry privateIt has been a dire year for shareholders in ASOS (ASC), with the online fashion retailer's equity slumping the best part of 80% on a flurry of downgrades.The shares fell a further 5.7% to 551.5p today on speculation the company is close to appointing...

- Posts 68th consecutive quarterly growth- IT demand remains firm despite recession risk- Share price remains close to 2022 lowsValue-added IT reseller Softcat (SCT) continues to impress as a business, posting its 68th consecutive quarter-on-quarter of organic growth in both sales and profits. Its year to 31 July 2022 saw pre-tax profit up from £119 million to £136.1 million, on revenue up...

- Driving value in fragmented £52 billion addressable market- Digitisation, Cloud, cybersecurity all hot investment themes- Vital partners to tech giants like Microsoft, AWS, Adobe and AppleAnalysts at stock broker Liberum believe there is great long-term returns potential from the UK technology value-added reseller space, including Softcat (SCT), Bytes Technology (BYIT) and Computacenter...

We all know that IT suppliers are having a great time thanks to unwinding post-pandemic pent-up demand, organisations embracing flexible working and the long-run shift to digital, but today's half year results from Softcat (SCT) really put that into perspective.Softcat is a value-added reseller, or VAR for short, meaning it sells third-party software and hardware to clients and then adds a...

IT reseller and adviser Softcat (SCT) reported year-on-year growth in revenue, gross profit and operating profit, while cash generation has remained in-line with normal trends during the first quarter to 31 October 2021.While today's update was figure-free, the company typically converts about 90% of its earnings before interest, tax, depreciation and amortisation into operating cash...

The FTSE 100 is poised for some significant changes in the coming 12 months such as the removal of BHP (BHP) from the index and GlaxoSmithKline (GSK) splitting into two businesses.The importance of sectors like resources, pharmaceuticals and insurance is likely to be reduced with consumer goods and banks potentially enjoying an increased weighting.Over time structural changes in the economy...