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Zenith Hygiene

December 2006

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.

  • Epic Code:
  • ZHG
  • Price:
  • 140p
The shares fell after Zenith Hygiene announced that sales and profit for the year to 31 August will be below expectations. Zenith said that the roll out of products to two major customers took longer than expected whilst it had also seen a reduction in restaurant demand during the summer. The integration of GWP acquired last December has taken longer than expected which will lead to an exceptional charge and impact on debt levels. A tentative bid approach has been received and with management holding c.40%, their agreement or involvement is a prerequisite. But we cannot reconcile the fact that the profit warning news comes 10 weeks after the year end and management systems clearly have something to be desired. ...

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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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