Updates

Findel - Soon-to-be-prospective PE of just 7.9

March 2015

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.

Findel has cleared out another of its businesses with the sale of Kleeneze, its door-to-door home shopping business, to an NYSE-listed network marketing business for £3.6m. Findel will continue to provide Kleeneze with support services on an arms length basis for a period of 18 months.For the full year to end March 2014 Kleeneze had reported a profit before tax and exceptional items of £1.3m although it recorded a loss in the subsequent six months. The sale is modestly eps enhancing.The sale of Kitbag probably seems next, which would further streamline the group. Meanwhile, broker N+1 Singer forecasts eps of 25p for the year ending on 31 March, lifting to 30.9p next year, a soon-to-be-prospective PE of 7.9. Ch ...

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