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Armour

May 2004

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.

  • Epic Code:
  • ARM
  • Price:
  • 80p
A good innings for the six months to 29 February. Sales were virtually doubled to £13.9m, with the auto electronics side accounting for £8.6m and home entertainment contributing £5.3m in the four months since acquisition. Pretax profit before goodwill was up fourfold to £1.6m for eps of 2.1p. Cash inflow was £0.9m. Post acquisition costs of £6.6m for the home entertainment division resulted in period end debt of £3.2m. Armour's auto electronics business had a record six month period with sales up 23% to £8.6m (all organic) and an operating profit before interest of £1.1m. Within this, the three main businesses each performed strongly. The Autoleads business had sales up ...

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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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