It has been an eventful second half of the year for global review platform Trustpilot Group (TRST) after the firm raised its profit guidance and appointed a new chief executive.

From their early July low of 63p, just before the release of the group’s first half trading update, the shares have very nearly doubled to new 12-month highs of 118p.

Behind the rise are repeated earnings upgrades and excitement surrounding the arrival in September of Adrian Blair, former global chief operating officer of UK food delivery firm Just Eat.

According to the new chief executive, ‘trust and transparency are becoming ever more important for businesses and consumers around the world’.

Long-term investor Northzone, a venture-capital fund which has held shares in Trustpilot since 2011, sold a 3.1% stake in early October at a price of 103p, but the shares were quickly absorbed by the market and the stock price has recovered equally rapidly.

Analysts at Berenberg describe Trustpilot as having a ‘five-star investment case’ based on its positive free cash flow, tight cost control, repeated increases in outlook and valuation.

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