Updates

Flying Brands - Upgraded following results

August 2004

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.

New highs followed the results for the six months to 2 July. Pretax profit was up by 25% to £3.94m on sales that were up just 1% to £20m. Earnings were up by 29% to 11.6p after the share buyback (497,000 shares in H1 for £1m). Despite the buyback, net cash rose to £4.1m from £0.86m a year earlier. Across the Group, higher margin internet sales grew by 26% to £1.64m. The results show the group is firing on all cylinders. Flying Flowers saw a turn round in its top line performance with sales up by 5% to £5.46m and operating profit by 14% to £1.63m. The percentage margin increased from 29% to 30%. The improvement came from better customer targeting, the re-introdu ...

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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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