Hi all I've been doing a bit of work on understanding FSA further especially in light of the recent price weakness. On the surface FSA ticks a lot of boxes (e.g. aligned management, recurring revenue, dominant player in a niche market etc etc).
However, I must admit I simply can't get my head around where growth will come from, specifically in relations to the debt agreement services, given (a) market is not growing; (b) FSA is already the dominant player. The recent indication of a slowdown in new inquiries is in particular worrying.
Their various loan books are profitable, (albeit sub-scale) but businesses such as invoice factoring are really really crowded and will get whacked big time if the economy goes southwards.
Any thoughts would be greatly appreciated.
FSA Price at posting:
$1.01 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)