Primary Recommendation

Findel - Subprime recurring revenues

July 2002

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 attraction of Findel is that the company is generating good growth from both sides of its business, home shopping and educational supplies, which are both likely to remain resilient if consumer spending slows down. But as its latest results illustrate,under the surface Findel is in a ferment of change and its pace ofgrowth is quickening. In the last three years, the home shoppingside has repositioned as a discount catalogue operator and hasgrown from 803,000 to 1.3m active customers. At the end of 2002, onehalf of these were taking short term credit from Findel which haslifted profit margins towards 15 per cent. The other areawhere Findel is achieving equally dramatic growth is in educationalsuppli ...

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Market Comment - July

Health Clinic - Substantial recurring revenues

Findel - Soon-to-be-prospective PE of just 7.9 (March 2015)

Findel (January 2014)

Findel - Highly geared for the long haul (September 2013)

Findel - Express Gifts momentum continues (July 2013)

Findel (April 2013)

Findel (February 2013)

Findel - Shares spike up on institutional buying (January 2013)

Findel (December 2012)

Findel -Prospective PE of 6.2 (November 2012)

Findel (May 2010)

Findel (February 2010)

Findel (October 2009)

Findel - PE of 7.7 versus sector average of 14 (September 2009)

Findel - Forecast upgraded following GLS acquisition (January 2005)

Findel - No loss of momentum on either side (June 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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