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Alpha Growth piss poor and non IFRS compliant interims, does anyone at the FCA care about enforcing its own rules?

By Tom Winnifrith | Friday 30 September 2022

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.

Alpha Growth (ALGW) published its piss poor results for the six months ended 30 June 2022 today which showed a loss before tax of £454,635.  The shares were off 7% at the time of writing this article which values the group at £11 million a multiple of almost 4 times net assets.  This looks high compared to say Legal & General (LGEN) which runs asset management and insurance operations with longevity exposure which trades at a multiple of just over 1 times net assets, has massive scale and pays dividends. Alpha is less likely to join the dividend list than, well, Cheryl Cole and you know what

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