Updates

Erinaceous

April 2006

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

This month’s results from the property services group were shadowed by rumours, later confirmed, that there had been a fraud at Dunlop Haywards Bow Lane office, where an employee had fraudently supplied an over inflated false property valuation (£12m). Whilst the loss is insured and is a criminal act rather than a procedural failure, there is a reputational risk. As it was, results themselves were reasonable and were boosted by the acquisition of Hercules at the end of ‘04. Sales went from £67m to £151m. Pretax profit increased from £5.7m to £24.3m and eps almost doubled to 19.2p as Erinaceous delivered on its promised synergies. Erinaceous states organic sales growth was 13%. But the ope ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

Augean - Still a very attractive situation

Computer Software Group - Forecasts upgraded

Erinaceous (December 2005)

Erinaceous (November 2005)

Erinaceous - Enjoys good trading (April 2005)

Erinaceous (January 2005)

Erinaceous - Shares move to new high (December 2004)

Erinaceous - Scope for large upgrades (October 2004)

Erinaceous - Scope for margin improvement (August 2004)

Erinaceous Beats forecasts (July 2004)

Erinaceous - First acquisition since AIM debut (June 2004)

Erinaceous - AIM debut with little fanfare (March 2004)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X