20 November 2017
By Maynard Paton
Update on Record (REC).
Event: Interim results and shareholder presentation for the six months to 30 September 2017 published 17 November 2017
Summary: This was another frustrating RNS from the specialist currency manager. The cost base has ‘inevitably’ increased, yet revenue and client numbers remain stagnant and — as usual — there’s no real sign of the business enjoying an upturn anytime soon. At least REC continues to generate cash, retains a robust cash pile and distributes a healthy dividend. The yield is 5%, which is not too bad in the current market. I continue to hold.