SMS Management: Result 2015

This IT Services provider has reported an excellent 2015 result, but prospects are cloudy.

Back in May we confessed that our original investment case for SMS Management & Technology hadn’t worked out, that the IT Services sector was not one we were ‘keen to be in over the long term’, and that (with some trepidation) we were hoping for a higher price to make an exit.

So it’s with great interest that we note today’s full-year results, which include a 48% rise in underlying earnings per share and have sent the share price up 9% to $4.08 – ahead of our $4 Sell price.

Better than forecast result

Cash flow improvement

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