Fintech finesse | Dividend hikes | Cash flow conundrums
Results and updates are coming thick and fast from small caps, with several impressing with strong growth and raised guidance. Our coverage below includes excellent results from a fintech payments group, which is starting to deliver on its considerable promise, and strong growth from a developer of mobile games, although cash flow from the latter looks less impressive. One of our Bonkers Bargains also issued another encouraging update and there was a big hike in the dividend from the UK's largest property franchisor. (Free to read)
Fintech finesse Equals (AIM: EQLS), the fintech payments group focused on the Enterprise and SME marketplaces, announced excellent interim results for the six months ending 30 June 2023 and a positive update on trading since the period end. 43% growth in transaction values to £5.9 billion supported a similar increase in revenue to £45.0m. Gross profit climbed 59% to £23.6m (margin 52%) while operating profit rose to a more respectable £5.5m (2022: £1.1m), that is for a business valued at £191m! The operating cash inflow was £12m and free cash inflow £8.2m, lifting period end net cash to £17.9m. We…