CASTLETON 2015 TO 2019
CASTLETON 2015 -2019
By and large everything is improving. Sales growth is largely due to acquisitions.
Operating expenses are reducing as a percentage of sales, so funds generated are increasing.
Control of circulating capital is improving, although when expressed in days, the figures are unusual.
In 2015 and 2016 investments exceeded the funds available and the company financed them with debt. In the later years is has funded investments with self-generated funds and is beginning to pay off debt.
The ratios look satisfactory. As mentioned the working capital ones are unusual; it would be necessary to see if they are in line with its competitors.
The company is about to begin paying dividends.
Its market-place is changing, however, with more clients wanting cloud services. How will Castleton adapt to these changes? In my opinion, probably quite well.