Softcat (LSE: SCT)
Be glad you didn't...
Up Global Sourcing (LSE: UPGS) is the designer, developer and licensee of several mass-market consumer brands, including Salter and Russell Hobbs. Rising cost of imports it sources many of its goods in China caused by the post-referendum slide in sterling dampened consumer confidence; the consequent slide in discretionary spending led to a 29% fall in revenue for the six months to the end of January, after an "exceptionally strong" first half of 2017. Full-year profits are in line with expectations, but the share price has fallen more than 60% in the past year.
Ben studied modern languages at London University's Queen Mary College. After dabbling unhappily in local government finance for a while, he went to work for The Scotsman newspaper in Edinburgh. The launch of the paper's website, scotsman.com, in the early years of the dotcom craze, saw Ben move online to manage the Business and Motors channels before becoming deputy editor with responsibility for all aspects of online production for The Scotsman, Scotland on Sunday and the Edinburgh Evening News websites, along with the papers' Edinburgh Festivals website.
Ben joined MoneyWeek as website editor in 2008, just as the Great Financial Crisis was brewing. He has written extensively for the website and magazine, with a particular emphasis on alternative finance and fintech, including blockchain and bitcoin. As an early adopter of bitcoin, Ben bought when the price was under $200, but went on to spend it all on foolish fripperies.
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