Updates

Wincanton

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.

Wincanton has issued an in-line H2 statement with a solid performance for the contract logistics division, including new contracts in the construction sector (Lavendon) and in defence (BAE). The specialist business divisions are also trading in-line but margins have remained under pressure at Pullman Fleet Services although containers and records management are stable.Surprisingly, Wincanton said that the recent drop in the price of fuel is not expected to provide any benefit as most of its contracts tend to be indexed to the fuel price. But this year will benefit from debts reducing as various legacy property leases come to an end and will no longer consume cash. Numis forecasts £25.6m pretax/eps 15.3p for the year ending th ...

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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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