Updates

Lavendon

December 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.

Lavendon has issued a trading update accompanied by a placing and open offer to raise Â£75m. The usual seasonal uplift in H2 has failed to materialise and although there are signs of business stabilising in Europe, levels of demand are lower due to construction projects continuing to be delayed or cancelled (poor read across also for the likes of Speedy Hire and Ashtead - Editor). The Olympics work could see utilisation improve but increasingly looks back-end loaded. Meanwhile, the Middle East operations continue to experience good growth. Overall revenues for the 10 months to 31 October are down 11% (17% on a constant currency basis).Lavendon said that net debt has reduced to Â£267m from Â£273m when it reported interims. It ...

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Lavendon (December 2013)

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Lavendon (August 2009)

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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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