I have attended a couple of company webinars in the last 24 hours. These were from companies at two extremes – a large investment trust (City of London – CTY) mainly invested in large cap UK companies, and Intercede (IGP), a small AIM listed software company.
I have held CTY since 2011 and according to the Sharescope software my annual return to date is 11.2% per annum. I consider that a satisfactory outcome. At least they have been beating inflation which is not falling as expected and is now still at 8.7%.
The long-standing manager, Job Curtis, spoke well and is clearly very familiar with the portfolio. He is over 60 years old but does not intend to retire soon. This webinar was organised by ShareSoc. I do not know if a recording is available, but there were no great revelations.
The smaller company, Intercede, has been held since 2010 and I have been very patient with it. Overall annual return is 0.0% per annum with the share price ranging from 20p to 240p while I have held it (currently 52p). The company focussed on digital identities. A change of management took place 5 years ago which was well overdue but only now has that improved matters so far as results are concerned.
Revenue was up 22% last year and EPS up 83%.
They made their first acquisition last year (of Authlogics) which has expanded their product portfolio to cover additional security methods and they are clearly looking for others to cover the Zero Trust Standard.
I asked the following question: “You seem to be doing well with expanding your sales to US Government agencies and other government bodies but little news of commercial customers when surely organisations such as banks need the technology. Why is this?”. The answer was not exactly clear but the Authlogics acquisition should assist.
This webinar was on the Investor Meet Company platform and I recommend you watch the recording on there. It gives a clear picture of likely future progress.
I was positively impressed by that and the results. I think I will stick with this company and may buy some more shares, particularly if growth looks like it will continue.
Roger Lawson (Twitter: https://twitter.com/RogerWLawson )