Sold SCS Group (SCS:LN)

This morning SCS Group released their preliminary results for the year. They were very good, with both revenue and profits up on a like for like basis compared to the previous year. The company had cash of £58m and free cash flow of £16m for the year, which is extraordinary considering the market cap is £94m.

So you might be wondering why I sold. It was due to the profit warning at the end of the announcement.

Continue Reading →