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Ultimate Leisure - Well placed to exceed forecasts

March 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.

  • Epic Code:
  • ULG
Results for the six months to 31 December were bang in line with our£2.6m guesstimate in the January issue, up 24% on the same  period  last year. Turnover and earnings lifted by a similar amount to £10.4m and 10.7p, respectively. The results did notspell it out but there was a £0.2m increase in head office costsincluding a new development director, operations director and two areamanagers. The benefits of these will come through in future periods,in particular, as Ultimate expands outside the North East. Atthe period end, Ultimate had 21 units. These comprised 12 venue barswithout late licences, which trade solidly but consistently (weeklysales £21,380; margin 32%), as well as two  small non-core ...

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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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