3 Changes to the UK Portfolio

  1. I sold Bloomsbury Publishing Plc (LON:BMY) after it announced a 3% decline in revenue for the four months of financial year 2020. The business is weighted to the second half of the year and management are confident of meeting their expectations. The board and management own a modest amount of stock and I suspect the business will continue on its trend of posting flat year on year earnings-per-share. There are better places to invest the capital.
  2. I sold Alpha FX Group PLC (LON:AFX) after I revised my opinion on the quality of the business. I'm still fairly positive about the company, but now think it is overpriced.
  3. I bought Beeks Financial Cloud Group PLC (LON:BKS) which provides high speed network infrastructure for algorithmic trading. I have held shares in the past and the business is growing rapidly. The share price has retreated in recent months after Beeks reduced its profit guidance to 25% growth on last year. That is still very strong, as is the outlook for the company.