Our opinion on the current state of PMV

Primeserv (PMV) describes itself as a "...provider of integrated business support services focused on providing client-centric human capital services, spanning staffing and recruitment services, productivity and functional outsourcing services and training and consulting services". In its results for the year to 31st March 2023 the company reported revenue up 4% and headline earnings per share (HEPS) up 28%. The company's net asset value (NAV) rose 9% to 240c per share. The company said, "Operating expenses for the year under review showed a marked decrease in large part due to non-recurring costs that affected the prior year. Group EBITDA improved by 12 percent, from R24.1 million for the prior year, to R26.9 million for the current year, whilst operating profit was up by 27 percent, from R16.2 million to R20.6 million". In a trading statement for the six months to 30th September 2023 the company estimated that HEPS would rise by between 20% and 23%. The main problem with this share is that it is extremely thinly traded with most days having no trade at all. This makes it impractical for private investors.