Upgrades in the AIM sell-off
Updates and results covered here include those of a company which looks well insulated from most of the fears currently occupying investors’ minds. Elsewhere, we are very impressed with the miraculous recovery of an energy services provider, whose shares still look decent value. Read on for these and other news. (Free to read)
Fonix Mobile: upgrades Mobile payments and messaging provider Fonix Mobile (AIM:FNX), which we covered previously in our premium report here: ‘Fast-growing arrival on AIM from 2020 is still looking good’ issued a positive update bringing an upgrade from its broker. Gross profit and adjusted EBITDA for the 6 months to 31 December have grown ahead of management's expectations with gross profit up 20% to £7.0m with adjusted EBITDA similarly higher at £5.5m. This business has a very attractive cash flow model, as our note highlights, and with continuing strong cash generation, Fonix now intends to pay an increased interim dividend…