Updates

Spice Holdings

June 2005

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 reporting results on 21 July, Spice issued a pre-close statement stating that it will meet expectations for the year to 30 April. Broker Baird is forecasting a 26% rise in pretax profit to £5.2m pretax for eps of 10.1p with £6.8m and 12p for the current year underway, to drop the PE to 14.6. But that could be exceeded if, as expected, Spice make acquisitions in areas such as utilities, social housing and the highways into which it can extend its freedom model. As a measure of its ambitions, in March it was rumoured to be interested in bidding for Maclellan, which would have doubled its size. Tipped at 143p last Oct, the shares peaked at 213p in February just ahead of those rumours. T ...

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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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