Updates

Davenham - BTL and commercial mortgages launched

March 2007

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.

For the first half ended 31 December, Davenham has reported underlying profit growth of 14% to £5.6m with fully diluted eps of 14.9p, up 51% versus a restated 9.9p in H1 06. Davenham is an asset financier, providing finance for short-term property transactions, trade finance for importers and wholesalers as well as hire purchase and lease facilities for plant and machinery to a cross-section of industry and commerce. In terms of overall headroom on lending, Davenham has net assets of £47m and covenants allowing for lending to increase to 5x net assets. The property division accounts for c50% of the loan book, with trade c30% and asset c20%. During H1, the loan book grew by 14% to £214m. The lion's share ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

RC Group - Results to exceed forecast

BATM - Nokia-Siemens merger could

Davenham - Bid approach (November 2007)

Davenham (September 2007)

Davenham (July 2007)

Davenham (February 2007)

Davenham - No deterioration in bad debts (October 2006)

Davenham (August 2006)

Davenham - Unexpected bad debt provisions (March 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.

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