Shining a light on a superb AIM elder
News from AIM covered here include delightfully simple results from one high-quality AIM company, without an adjustment in sight. This contrasts with a far more complicated offering from another, where adjustments proliferate! Elsewhere, the Black Box that is Burford Capital continues to issue mixed messages, while news of a big contract win lifts the shares of another small AIM company covered here.
Restore: why don’t they focus on the free cash flow?Restore (AIM: RST), the provider of digital and information management and secure lifecycle services (mainly document archives), announced results for the year ended 31 December 2022. Revenue was boosted by 5 acquisitions rising 19.1% to £279.0m, while adjusted profit before tax increased 7.6% to £41.0m. The core Records Management business saw revenues climb 12% to £113.7m, while revenues in Restore Digital encouragingly rose to 47% to £54.5m, with strong organic growth as well as a boost from acquisitions. This business has a track record of excluding heaps of costs in its…