Updates

Wincanton

December 2013

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.

When we spoke to chief executive, Eric Born, following the interims, he said he is â€œpleasedâ€ with the stability seen in the latest period. Having been in decline for eight consecutive half year periods, sales were still down but the rate of decline this time was 1% to Â£543m. The recovery in the economy has not emerged across the board. Wincanton saw it coming through strongly in construction (housebuilding) but there was less of a recovery in retail, energy & bulk and in consumer products. That said, retail did see new contracts won, which make up the shortfall. As it was, pretax profit came in at Â£12.9m for eps up 20% at 8.4p. The core contract logistics business recorded revenues down 0.7% at Â£462m. The story is a ...

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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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