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Ultimate Leisure

February 2003

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.

Ultimate issued a trading update in advance of detailed figures to be reported on 26 February. It said it expects first half pretax profits to 31 December to be at least £3.25m, up 25% on the first half last year. For the full year, it remains "very comfortable with market expectations." Based on 22 venues, Numis forecast £6.7m pretax in the current year to 30 June for earnings of 26.6p. Since our lastupdate, chief executive, Allan Rankin, has acquired a further 10,000shares at 237p, lifting his holding to 3.2m (18.39%). Ultimatehas fallen from a peak of 258p on the back of downbeat newsflow fromother operators. On a PE of 6.8 for this year the shares areattractive but will hang fire. The September lowest-cashflow q ...

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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