Updates

Swallowfield - Sale of division leaves 150p cash per share

August 2019

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.

Swallowfield has announced the disposal of its contracting manufacturing business to a large North American buyer, Knowlton Development Corporation (KDC). The price paid is £35m - a premium to Swallowfield’s £33m market capitalisation on the day the deal was announced.For the 53 weeks ended 30 June, the sold business’ revenues grew 15% to £54.8m with an operating profit of £2.6m. A very poor H1 (when it experienced raw material headwinds) was followed by a significant recovery in H2.KDC is the largest North American custom formulator and manufacturer serving the prestige beauty, personal care and household sectors and will go on making Swallowfield’s products under a long term s ...

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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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