Shares digital

Finals Tuesday 3 July

BULL POINTS

> May trading statement upbeat

> Good organic growth

> Highly cash-generative

> Dividend payments rising quickly

> Testing services operations developing nicely

BEAR POINTS

> Dividend yield still low

> Progress in Germany slow

> Has already performed well

SHARES SUMMARY

NCC has carved out a very profitable niche in the escrow software solutions market and has acquired companies to help develop the complementary testing operation. The stock is not as cheap as it was after a good run, but it offers exposure to some of the fastest-growing areas in IT. A planned move to the official list can only further raise the firm’s profile. RM