Updates

Restore

December 2015

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.

The scanning issues reported in August are now behind it and the shares have moved back to the top of their range after Restore announced the acquisition of Wincanton’s (WIN; 200p) Wincanton Records Management (WRM) for £60m on a debt free basis. This is the largest deal to date – in fact the price is more than what it has paid for 23 deals previously totted together. It’s also more expensive at 2.7x sales versus the typical 1x sales that Restore has paid previously.The acquisition is being financed by a placing of 13.1m new shares at 260p (to raise £34m before costs) together with bank borrowings (a new £80m facility is put in place).WRM is a large records management business in the ...

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SuperGroup - Exceptional LFL Retail +17.2%

NAHL

Restore - £61m acquisition of EDM (June 2021)

Restore - Prospective PE of 15.2 (September 2020)

Restore (September 2017)

Restore (March 2017)

Restore - Buys No.2 in shredding (August 2016)

Restore - Gain since June 14: 78.3% (April 2016)

Restore (August 2015)

Restore (April 2015)

Restore - Buys rival for £23.5m and becomes no.2 in document management (November 2014)

Restore (October 2014)

Restore - High visibility of earnings (June 2014)

Radstone - Forecasts for year maintained despite weak first half (December 2004)

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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