Metro­file, Cash­build

Finweek English Edition - - INSIDE - BY SIMON BROWN

WE FIRST SUG­GESTED a ‘buy’ on this stock in 2013 and again in 2014, and while it hasn’t shot the lights out, t hat ’ s ex­actly what one ex­pects f r om t hi s com­pany. Frankly, it is bor­ing, but bor­ing in a good way. It stores doc­u­ments. That’s it, noth­ing fancy.

The beauty of the busi­ness is that leg­is­la­tion re­quires all com­pa­nies to keep cer tain doc­u­ments for pre­scribed pe­ri­ods of time, so Metro­file has an in­built de­mand for its ser­vices. Fur­ther, when you are a busi­ness that needs to store doc­u­ments, and you de­cide to get a third party to man­age this process for you, it is a must that the com­pany be­ing used is well re­puted and skilled in the field. You do not want to go with some new start– up that no­body has heard of and that may not be around when you need to re­trieve the doc­u­ments.

Lat­est re­sults show solid growth with a de­cent div­i­dend and a cau­tious ex­pan­sion i nto Africa (Mozam­bique, Nige­ria and Zam­bia), with a pres­ence in UAE.

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