| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | -97.34K | 2.58M | 0.00 | 0.00 | 0.00 |
| Gross Profit | -97.34K | 2.58M | 0.00 | 0.00 | 0.00 |
| EBITDA | -462.94K | 2.15M | -287.86K | -131.51K | -19.77K |
| Net Income | -388.25K | 1.53M | -289.32K | -131.68K | -19.85K |
Balance Sheet | |||||
| Total Assets | 10.54M | 8.12M | 341.98K | 623.61K | 11.59K |
| Cash, Cash Equivalents and Short-Term Investments | 10.52M | 8.11M | 332.97K | 576.02K | 10.09K |
| Total Debt | 995.00K | 0.00 | 9.17K | 0.00 | 0.00 |
| Total Liabilities | 1.50M | 580.44K | 44.20K | 36.51K | 3.20K |
| Stockholders Equity | 8.97M | 7.47M | 297.78K | 587.10K | 8.38K |
Cash Flow | |||||
| Free Cash Flow | -44.70K | 890.87K | -241.58K | -144.46K | -22.35K |
| Operating Cash Flow | -44.70K | 890.87K | -241.58K | -144.46K | -22.35K |
| Investing Cash Flow | -2.95M | -6.44M | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | 2.87M | 5.45M | -1.47K | 710.40K | 0.00 |
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
50 Neutral | £4.20M | ― | ― | ― | ― | ― | |
48 Neutral | £8.23M | -2.31 | 224.15% | ― | ― | ― | |
46 Neutral | £13.05M | ― | ― | ― | ― | ― | |
42 Neutral | £600.00K | -2.51 | ― | ― | ― | ― | |
42 Neutral | £1.10M | ― | ― | ― | ― | ― | |
41 Neutral | £23.97M | ― | 86.91% | ― | 34.99% | -31.37% |
Kelso Group Holdings Plc, a listed UK investment vehicle specialising in under-valued small and mid-cap stocks where it seeks to unlock value through active engagement, has built a concentrated portfolio including TheWorks.co.uk, Saga, THG and several other names. The firm leverages its highly experienced board to influence strategy, capital allocation and investor relations across its investee companies, aiming to close valuation gaps in the domestic market.
Kelso has increased its stake in TheWorks.co.uk Plc, the UK’s leading specialist retailer of affordable, screen-free activities, from 6.6% to 7.0%, underscoring its conviction that the chain is significantly undervalued. Despite The Works’ 500-store footprint, rising EBITDA and net cash, and expectations for further profit and cash growth, the retailer trades on very low EV/EBITDA and revenue multiples, prompting Kelso to send the board a set of proposals designed to help narrow what it views as a clear disconnect between performance and market valuation.
The Works reported revenue of £277m for the year to April 2025 and a 58% year-on-year rise in EBITDA pre-IFRS 16 to £9.5m, with 2026 EBITDA forecast at £11.0m and net cash expected to rise to at least £5.0m. Kelso argues that these metrics, achieved alongside continued investment in store expansion, are not reflected in the current valuation, and its more assertive shareholder stance may increase pressure on The Works’ board to pursue strategies that could unlock greater value for investors.
Clarity around The Works’ capital allocation, growth plans and market communication is likely to come into sharper focus as Kelso presses its case, potentially influencing broader sentiment towards UK value retailers. The move also illustrates Kelso’s wider strategy of using incremental stake-building and targeted engagement to catalyse re-ratings in overlooked domestic equities, a model that could resonate with other activist-style investors in the UK small and mid-cap arena.
The most recent analyst rating on (GB:KLSO) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Insight Business Support Plc stock, see the GB:KLSO Stock Forecast page.
Kelso Group Holdings’ CEO John Goold will present at the Yellowstone Advisory Private Investor evening in London on 25 February 2026, outlining the firm’s portfolio and highlighting two new 2026 investments in Saga and CVS Group. The appearance underscores Kelso’s strategy of engaging actively with investors and the market around its concentrated holdings in UK small and mid-cap companies, reinforcing its profile as an activist-style vehicle seeking to unlock value in its investee businesses.
The most recent analyst rating on (GB:KLSO) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Insight Business Support Plc stock, see the GB:KLSO Stock Forecast page.
Kelso Group Holdings has acquired 130,000 shares in veterinary services operator CVS Group, citing the company’s two-decade record of consistent revenue and EBITDA growth and its expansion to about 470 practices across the UK and Australia. CVS operates in a defensive, structurally growing pet-care market, benefiting from rising pet ownership and ageing animal populations, and has reported strong customer satisfaction and scale-driven efficiencies.
Kelso argues CVS is materially undervalued versus historic metrics and comparable UK growth compounders, given its current EV/EBITDA multiple of roughly 8x, strengthening balance sheet, and resilient cash generation. The investor sees potential catalysts for a share re-rating from the imminent conclusion of the UK competition watchdog’s review, prospective FTSE 250 inclusion, and disciplined capital allocation including share buybacks and moderate use of leverage, positioning CVS to remain a UK-listed growth story while deterring possible private equity interest.
The most recent analyst rating on (GB:KLSO) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Insight Business Support Plc stock, see the GB:KLSO Stock Forecast page.
Kelso Group Holdings has provided an update on its significant stake in NCC Group, a UK-listed cybersecurity and software escrow specialist, following NCC’s agreement to sell its Escode business to TDR Capital for an enterprise value of £275 million. The disposal, which comes after a strategic review, is accompanied by NCC’s plans to return a substantial portion of the proceeds to shareholders and launch a £70 million share buyback, moves Kelso supports as value-accretive for investors. Post-transaction, NCC will become the UK’s largest pure-play cybersecurity firm, and Kelso expects the ongoing strategic review of NCC’s cyber division to culminate in a sale in 2026, arguing that the implied valuation of the remaining business is at a steep discount to peers and underscores broader undervaluation in the UK equity market. Kelso also noted that aside from a recent purchase of Saga shares and a £2 million fundraising completed in December 2025, its portfolio of six core investments remains largely unchanged, with further updates on holdings expected during 2026.
The most recent analyst rating on (GB:KLSO) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Insight Business Support Plc stock, see the GB:KLSO Stock Forecast page.
Kelso Group Holdings has disclosed a new strategic investment in Saga plc, acquiring 400,000 shares in the over-50s specialist travel and insurance group, as it seeks to capitalise on what it sees as a mispriced UK mid-cap opportunity. Kelso argues that Saga’s shift back to a predominantly travel-focused, asset-backed cruise business, its accelerating deleveraging, the sale of its capital-intensive underwriting arm, and strengthening management under Sir Roger De Haan have materially improved the group’s fundamentals, yet the shares still trade at a discount to cruise-sector peers and to the value of its cruise ship assets. The investor believes further debt reduction and profit growth could unlock a rerating, potentially aiding Saga’s return to the FTSE 250 and attracting index and US investor interest, and has already engaged Saga’s board with proposals aimed at accelerating deleveraging and broadening the shareholder base.
The most recent analyst rating on (GB:KLSO) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Insight Business Support Plc stock, see the GB:KLSO Stock Forecast page.
Kelso Group Holdings Plc has successfully raised £2.05 million through the issuance of new ordinary shares, which will be used to expand its investment portfolio. This strategic move aims to balance risk and reward, enhancing Kelso’s market position in the UK small cap sector. The new shares will be admitted to the London Stock Exchange, increasing the company’s total share capital and voting rights, and reflecting strong shareholder support for Kelso’s investment strategy.