Updates and Ideas

Low & Bonar - Specialist manufacturer becomes a reliable growth stock

April 2008

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.

Low & Bonar (LWB; 113p) has been transformed by Paul Forman since he became chief executive in 2002, with the sale of a packaging business followed by a string of acquisitions to flesh out a once tiny specialist textiles business, with a smaller second leg in contract flooring. As Forman points out, central to future prospects is the former, which supplies yarns, fibres and non-woven textiles to a range of industrial customers. Not particularly interesting you might think! - until you realise that these are niche products and are high value added items that often help customers to run their own businesses more successfully. For instance, L&B supplies the backing used for carpet tiles. Manufacturers need a material which wo ...

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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.

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