Updates

Davenham

February 2007

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.

Ahead of results on 26 February, Davenham has reported that trading was in line for the six months to 31 December. New business opportunities remain firm and it continues to apply diligently its underwriting and risk management techniques across the loan portfolio. Since our last update, Davenham has agreed an increase in its banking facilities to £300m through a successful refinancing which will underpin solid growth in the portfolio over the next two to three years. For the year to 30 June, Teather & Greenwood forecasts eps of 32.2p and has set a 415p share price target. An opportunity to consider adding to holdings. ...

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Hitachi Capital

SMC

Davenham - Bid approach (November 2007)

Davenham (September 2007)

Davenham (July 2007)

Davenham - BTL and commercial mortgages launched (March 2007)

Davenham - No deterioration in bad debts (October 2006)

Davenham (August 2006)

Davenham - Unexpected bad debt provisions (March 2006)

Davenham - Shore Capital initiate coverage (January 2006)

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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