U And I (LON:UAI) has not had a good time for the last few years and covid certainly didn't help, or did it?

Covid has forced U And I (LON:UAI) to deal with issues, slim line the business to release capital and make things simpler. There is also a new CEO who has very large skin in the game and is continually adding.

CEO, Richard Upton, has set out a business plan for the company which entails disposals of 35 non core projects which will release funding for the company to then proceed with 5 Core projects, targeting £1.4 billion profit in the next 5 years.

"Since I took over as CEO eighteen weeks ago, this is precisely what we have done. We have made some clinical decisions in many areas of the business, resulting in further development and trading asset impairments. Covid-related market issues further added to us reporting hugely disappointing financial results today. I am absolutely determined that these years of underperformance are now behind us. From here, we will build trust and shareholder value. We have reset the strategy, refocused management, monetised assets, removed costs, reduced debt and reviewed the Board's composition. What we now have is a refreshed business that is not only sustainable for the long-term but one that is simpler, stronger and more shareholder focused. It is a business that is ready to deliver on its promises. We are on target to generate proceeds of £130 million by FY2022 from our monetisation programme, of which £54.5 million has already been completed. We have cut gross recurring overheads by 26% towards our targeted £12 million by FY2023. And we have reduced gearing to 35.5% towards our targeted level of between 25-35% by the end of FY2022. The business now has strong foundations."

No dilution of the shares are needed. Bad news is out of the way and the company is ready to deliver. When you look at the current market cap of £120m and the company is targeting £1.4 billion profit, providing the company does deliver, then it is vastly under valued.

In the past, U And I (LON:UAI) used to give dividends of 10%, 2018. The dividend is stopped atm, but will likely resume again next FY.

All in all, I think this is a company that is worth looking at and seems to…

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