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Highbury House - Entertainment titles exceed expectations

June 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.

At the AGM Chairman, Ian Fletcher, reported that sales for the four months to 30 April increased 38% on the same period last year. On a like-for-like basis (excluding acquisitions) revenue increased by 2%, with advertising up 4% and higher quality circulation income up 0.4%. Operating profit has been significantly ahead reflecting a much improved performance in the business titles whilst its entertainment titles exceeded expectations. Based on forecasts of 2.4p for this year, the PE is only 8.3. Buy. ...

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Character

Erinaceous - First acquisition since AIM debut

Highbury House (May 2005)

Highbury House - Some consumer sectors are weaker (August 2004)

Highbury House - Four of its top ten consumer titles were acquired last year (May 2004)

Highbury House (February 2004)

Highbury House (January 2004)

Highbury House - Prospective PE of just 5.7 (April 2003)

Highbury House (January 2003)

Highbury House - Prospective PE is 6.2 for next year (September 2002)

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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