Updates

Flying Brands - "Late stage" discussion to acquire home entertainment business

March 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.

Having analysed around 200 possible acquisition targets over a period of eight months, new chief executive, Mark Dugdale, is keen to move Flying Brands up a gear. The shares which were tipped in April 2003 at just 138p, surged following the analysts meeting on the day of results.For the year to 31 December, Flying Brands reported sales down slightly to £35.3m. Profit before tax including a £0.3m exceptional gain was up 24% to £5.6m and earnings per share by 26% to 15.7p (22% Jersey tax). Cash at the period end stood at £3.9m. The performance in the two main brands reflected a management decision to reduce mailings during off peak times. As a consequence, Flying Flowers, the postal mail order br ...

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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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