Tag Archives: System1

System1: News Of 26.1p Per Share Special Dividend Tempered By Mild Q1 Warning

16 June 2017
By Maynard Paton

Quick update on System1 (SYS1).

Event: Annual results and shareholder presentation for the twelve and fifteen months to 31 March 2017 published 15 June 2017

Summary: A change of year-end meant SYS1 had a second opportunity to impress shareholders with a bumper set of annual results. However, this time the group admitted recent trading had been “a little slower than expected” and the highly rated share price reacted accordingly. Still, the group’s executives remain confident about the long term and underlined their confidence by declaring a super 26.1p per share special dividend. I continue to hold.  Continue reading

BrainJuicer: Bumper 2016 Results Suggest Growth Accelerated Towards 20% During H2

10 February 2017
By Maynard Paton

Quick update on BrainJuicer (BJU).

Event: Annual results and shareholder presentation for the twelve months to 31 December 2016 published 09 February 2017

Summary: These impressive annual figures confirmed BJU had enjoyed a magnificent second half. The market-research pioneer confirmed all of its core products had performed well, including the group’s best-selling system that had suffered a wobble during H1. I’m also pleased the accounts remain first class, while it’s not surprising the share-price rating is now expecting further robust growth. However, the usual “limited visibility” of client orders remains a drawback. I continue to hold. Continue reading

Year In Review 2016

01 January 2017
By Maynard Paton

Happy New Year!

I trust you enjoyed the festive break and are now raring to do battle with the market for another twelve months!

This first Blog post of 2017 provides a ‘year-in-review’ of my current portfolio holdings. I recap how each of the underlying businesses performed during 2016, as well as provide a few remarks about valuation.

As I mentioned this time last year, I find writing such reviews extremely useful — not least because it encourages me to double-check my investment logic to ensure I am still invested for all the right reasons! Continue reading

BrainJuicer: Return To Double-Digit Growth And Yet Another 12p Per Share Special Dividend

16 September 2016
By Maynard Paton

Quick update on BrainJuicer (BJU).

Event: Interim results for the six months to 30 June 2016 published 16 September 2016

Summary: A very respectable set of figures that confirmed this market-research agency has now returned to double-digit growth. However, the group’s best-selling system has started to face “pricing pressure” and the wider competitive advantage may not be as strong as it once was. The statement’s highlight was news of a 12p per share special dividend — the third in four years. The accounts remain in good shape and I continue to hold. Continue reading

BrainJuicer: I Watched A Beer Advert And Decided To Buy

07 September 2016
By Maynard Paton

Today I’m reviewing one of my recent investments.

The company in question is BrainJuicer (BJU), which you may recall I revealed as a fresh holding within this second-quarter portfolio update.

I purchased my BJU shares at an average price of 325p (including all costs) during March and April 2016. The bid price is now 425p and the position currently represents about 2% of my portfolio.

I have to admit, BJU is somewhat quirky in comparison to many of my existing holdings. The group is a market-research agency and has pioneered techniques to judge the potential success of adverts using ‘behavioural science’.

If you’re wondering what on earth behavioural science is, don’t worry. For years BJU’s business never made much sense to me — until I read this year’s annual report, watched a beer advert… and finally got to grips what this £58m small-cap actually does.

Anyway, supporting the notion that BJU had above-average investment potential was a respectable record of progress, decent financials, an executive team led by the firm’s founder/major shareholder… as well as the opportunity to further ‘disrupt’ the wider market-research industry. Continue reading