Updates

Clapham House - Writes down Tootsies ahead of sale

August 2009

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.

As we intimated in our May update, Clapham House has taken the big aspirin on its 23-unit Tootsies brand in its FY09 accounts by writing off the entire goodwill relating to that business ahead of its expected disposal. Tootsies had reduced its operating profit during the year from Â£3m to Â£2m so clearly the management are being ultra conservative by writing down the entire amount but it's a non cash write down anyway. In normal markets that brand could have been sold for at least Â£10m but these aren't normal markets as buyers have problems financing acquisitions - so it will be interesting to see the eventual disposal price and we reckon we wonâ€™t have to wait too long. Any disposal will leave Clapham House with two key assets, ...

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

Subscribe now

Already a subscriber? Login

Superglass

Synergy Health - Very positive Q1 trading

Clapham House - Nandos bids 74p (October 2010)

Clapham House - Bid approach (September 2010)

Clapham House (April 2010)

Clapham House (May 2009)

Clapham House (February 2009)

Clapham House (January 2009)

Clapham House - 'Highly positive' about future (October 2008)

Clapham House - Sells Bombay Bicycle Club (August 2008)

Clapham House (April 2008)

Clapham House - Capricorn takes holding to 25% (February 2008)

Clapham House - Nandoâ€™s owner buys 11% stake (January 2008)

Clapham House - Reigns in opening programme (December 2007)

Clapham House - Broker sets 465p target (October 2007)

Clapham House - GBK to almost double in size in FY08 (September 2007)

Clapham House - Fastest growing restaurant operator (July 2007)

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