Updates

Spice Group

February 2006

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.

Interims were coupled with the acquisition of electrical services business Baineport for a maximum £5m. Baineport provides engineering services including electrical network design and installation for a range of distribution network operators including Manweb and Norweb as well as for a range of commercial customers. Spice is paying a historic multiple of 6.3x for the business. Interims to 30 October themselves were in line with expectations with sales up from £41.3m to £55.6m. Three acquisitions in the period accounted for £8.9m of this increase. Pretax profit lifted from £1.8m to £3m, giving rise to a 17% increase in eps to 5.4p. Spice operates via four divisions and although organi ...

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Retail Decisions - Plans to drive value from acquisitions

PKL

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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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