Updates

Conviviality Retail - Forecasts upgraded following second big deal

July 2016

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.

Since our last update Conviviality has completed another substantial acquisition funded by a placing of shares at 205p to raise £40m. It is buying Bibendum PLB, one of the largest wine, spirit and beer distributors and wholesalers to the UK on-trade and off-trade markets, for an enterprise value of £60m (£40m cash plus the assumption of £20m debt). Net debt post completion rises to £105m.Having acquired Matthew Clarke in October 2015, this is clearly more of the same and it allows the group to fill key and geographical strategic gaps. For drinks manufacturers the enlarged group offers an efficient channel to serve the end customer across all channels. In its financial year ended 31 March 2016, Bibendum ...

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Norcros

Redcentric

Conviviality Retail (December 2016)

Conviviality Retail - Eps enhancing acquisition of Matthew Clark (October 2015)

Conviviality Retail (August 2015)

Conviviality Retail (December 2014)

Conviviality Retail (August 2014)

Conviviality Retail (June 2014)

Conviviality Retail (December 2013)

Conviviality Retail - Franchise off-licence operator (November 2013)

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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