Updates

Spring Group

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.

We omitted updating on Spring last month following results for 2004. Sales were up 37% to £476m in the year to 31 December, of which 28% was organic growth and 9% arose from the acquisition of Best. Profit before taxation was £8.5m for adjusted eps of 5.0p on a nil tax charge. Net cash at the period end was £28.9m or 18.4p a share. The lion's share of sales was Spring Technology Staffing Services which after three years of decline saw some improvement in demand for IT professionals. Sales grew 43% to £416m. This helped STSS report an operating profit of £11m and margins increased from 1.6% to 2.6%. Elsewhere, General Staffing grew sales by 5% to £59.2m. Operating profit lifted 23% to &poun ...

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Powerleague - Double the size of Goals Soccer Centres

Spring Group (October 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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

Spring Group

June 2005

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Spring Group (October 2004)

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