Updates

Clapham House

May 2009

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.

We met the finance director ahead of the company reporting its 2009 results on 7 July. On an EBTIDA forecast of around 4.5x versus historic 8x for the sector, the company remains a sitting duck to a predator. Net debt is expected to emerge at £15m but should come down by £2m in the current year despite some new openings.Gourmet Burger Kitchen has continued to deliver good sales performances with six new restaurants opened during the year and the 2-for-1 promotions having the desired effect on sales. There are now 49 units in the UK and six more will open this year. The format seems to be working well outside London and Clapham House reiterated its aim of 150 units in the UK in the medium-term. In addition, there have b ...

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Clapham House - Nandos bids 74p (October 2010)

Clapham House - Bid approach (September 2010)

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Clapham House - Writes down Tootsies ahead of sale (August 2009)

Clapham House (February 2009)

Clapham House (January 2009)

Clapham House - 'Highly positive' about future (October 2008)

Clapham House - Sells Bombay Bicycle Club (August 2008)

Clapham House (April 2008)

Clapham House - Capricorn takes holding to 25% (February 2008)

Clapham House - Nandoâ€™s owner buys 11% stake (January 2008)

Clapham House - Reigns in opening programme (December 2007)

Clapham House - Broker sets 465p target (October 2007)

Clapham House - GBK to almost double in size in FY08 (September 2007)

Clapham House - Fastest growing restaurant operator (July 2007)

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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