Updates

Lavendon - Peel Hunt forecasts eps of 16.6p for current year

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.

Speaking to chief executive Don Kenny following 2014 numbers, it’s clear that Lavendon has never been in better shape or indeed cheaper, with the net asset value per share of 131p made up of a very young and modern fleet of lifting equipment.Revenues for the year were up 7% to £253m on constant currency but then the story is one of improving margins and profits rather than revenues. Pretax profit helped by an operational efficiency programme was up 14% to £34.1m for eps up 9% to 15.7p. Operating margins were 16%, up from 14.9%. Net debt also reduced from £97m to £90m, despite spending £55m on refreshing the fleet and in terms of leverage net debt is just 1.1x ebitda, which is at the lower end of ...

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Lavendon (January 2017)

Lavendon - Unsolicited bid and counterbid! (December 2016)

Lavendon - Trading at close to book value (131p) (March 2016)

Lavendon - Trading at top end of forecasts (February 2016)

Lavendon (September 2015)

Lavendon - Upgrade when others in sector get downgrade! (August 2015)

Lavendon - UK trending higher (May 2015)

Lavendon - 2014 at top end of expectations (February 2015)

Lavendon (September 2014)

Lavendon (March 2014)

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Lavendon (December 2013)

Lavendon - Middle Eastern leg becomes biggest (October 2013)

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Lavendon Group (December 2012)

Lavendon Group - Tidal wave of free cashflow (October 2012)

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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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