Updates

Davenham - Unexpected bad debt provisions

March 2006

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.

After a very strong run (and not helped by an unexpected deterioration in credit experience which is hoped to be an isolated incident), profit taking saw the shares retrace from 390p. For the H1 to 31 December, turnover was up 17% to £15.9m. Profit before tax lifted by 8% to £4.5m for eps of 17.9p. Growth was driven by a combination of lower interest on its own borrowings following the float and also higher gross yields on funds lent as UK mainstream banks tightened their lending criteria. Overall, the loan portfolio increased by 16% year-on-year to £166m. Davenham provides specialist financing solutions to SMEs based on asset security. On a divisional basis, property finance and asset finance both perfo ...

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XKO - Comfortable with forecasts

Worthington Nichols - Growing like topsy

Davenham - Bid approach (November 2007)

Davenham (September 2007)

Davenham (July 2007)

Davenham - BTL and commercial mortgages launched (March 2007)

Davenham (February 2007)

Davenham - No deterioration in bad debts (October 2006)

Davenham (August 2006)

Davenham - Shore Capital initiate coverage (January 2006)

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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