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Interquest Trading update - buy

By Tom Winnifrith & Steve Moore | Tuesday 26 January 2016

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

InterQuest (ITQ) has updated that “trading for the financial year ended 31 December 2015 was in line with market expectations” and that it is “encouraged by the continued growth we are experiencing and the exciting initiatives of our new executive management team”

The update notes continued strong growth in net fee income in 2015 driven by a focus on niche sectors in technology, analytics and digital markets which continue to display strong growth and an improvement to net operating margin of c.200 basis points to c.23%.

In a current uncertain economic environment, noted “continued robust growth” is very pleasing and the early starting of new executive management  looks to offer further upside potential for the current year.

We continue to look for 2015 earnings per share of 11p+ (a pre-tax profit of more than £5 million, 2014 earnings per share: 9.6p) and there being good upside potential on circa 12p of earnings per share currently pencilled in for 2016.

The shares have currently nudged ahead to 82.5p on the back of the trading statement – a level which we continue to consider much too harsh given the company’s continuing positivity. Ahead of the 2015 results statement expected on 9th March, we continue to rate this Steve Moore tip of the year  as a buy.

This article first appeared on the Nifty Fifty website which Lucian Miers runs with Tom Winnifrith & Steve Moore - sorry, it is paying customers first. To access the website ahead of the next share tip from Tom & Steve and a new shorting idea from Lucian BOTH ON FRIDAY 29 JANUARY GO HERE

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