RE: ALFA - was over £5 two years30 Sep 2020 09:22
IC View
Alfa’s half-year results appear to have come as a pleasant surprise judging by the market reaction, which bumped up the shares 15 per cent on results day. Management’s cautious tone in April did not suggest that the company was on track to nearly doubling profits in the first half, while strengthening cash generation has allowed Alfa to boost research and product development spending by a fifth, as well as announce a special dividend of 15p a share. We move to hold.
Last IC View: Sell, 78p, 29 Apr 2020