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Fayrewood - Trading ahead of expectations

February 2004

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:
  • FWY
  • Price:
  • 105p
In the light of a  bullish trading statement  which followed a better than expected Q4,  broker Arbuthnot has lifted its 2003 forecast for Fayrewood (105p) to £11.7m pretax profit for eps of 9.8p. Since its flotation on AIM in 1996, Fayrewood has made a number of clever acquisitions and also demonstrated strong organic growth. However, the emphasis over the years has shifted from the early one which comprised putting together high growth businesses and floating them as a single unit, to one of a holding company where it is running the operations itself. The one flotation that has taken place has been Computerlinks (now listed on the Frankfurt exchange) where Fayrewood retains a 51% stake and therefore consoli ...

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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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