Aim: Share price: 66p
Bid-offer spread: 65-67p
Market value: £77.8mn
- Potential for cash windfall in class action against several carmakers
- Housing repair business booming
- Potential earnings recovery in 2025
Investors running their slide rule over Liverpool-based Anexo (ANX) are in an information void. That’s because newly appointed house broker Shore Capital has yet to initiate coverage and former house broker Zeus Capital has withdrawn forecasts on the specialist integrated credit hire and legal services provider.
However, it’s safe to assume that the board’s ‘in line’ guidance given earlier this month is benchmarked against Zeus’s previous forecasts. Analysts at the brokerage had been pencilling in a decline in full-year adjusted pre-tax profit from £23mn to £19.3mn ahead of a recovery in earnings to £26.1mn in 2025. Note that profits are stated after fully expensing marketing and legal costs involved in pursuing group action emission cases. Anexo invested £6.5mn in these cases in 2024, up from £4.3mn in 2023, a major contributory factor behind the likely reversal in profits last year.
