Updates

La Tasca - Maiden results

August 2005

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.

Maiden results for the year to 30 April matched forecasts. Turnover was ?48.8m, a 22% improvement on last year. Pretax profit was up 51% to ?3.9m. Net debt at the period end was ?14.6m so interest cover was 2.8x historical but is expected to be 5.3x this year. Ten restaurants were opened, taking the total to 50. Eight of the ten were in the La Tasca format and two were in the new La Vina format. A further three restaurants have opened since 1 July and there is a healthy pipeline of new sites in place, with a target of 8 to 10 new openings per year for the foreseeable future. In terms of US expansion, a third location at Baltimore was due to open in June but there has been a delay in signing off the lease and the unit will op ...

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Spice Holdings - Forecast lifted following acquisition

Microgen

La Tasca - 200p a share bid; gain 50.4% (May 2007)

La Tasca - Attracts two bidders (April 2007)

La Tasca - Trading strongly over Christmas (January 2007)

La Tasca - Results expected 12 December (December 2006)

La Tasca - Trade disrupted by World Cup (August 2006)

La Tasca (May 2006)

La Tasca - Opening programme ahead of target (January 2006)

La Tasca (October 2005)

La Tasca - Largest chain of Spanish restaurants (March 2005)

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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