On March the 27th I wrote a report on Manolete Partners (LON: MANO), since then the stock price has risen 25%. Back in March I argued that the end of the insolvency ban in the UK, together with all-time highs in corporate bankruptcies meant that Manolete had strong tailwinds.
The company published a trading update on April the 18th. In this update the company reported the following:
1. The business is profitable.
2. There were new case investments.
3. Case completions are running at record highs.
4. Cases are getting larger, which reflects that larger bankruptcies (Administrations in insolvency lingo) are picking up pace.