Updates

Speedy Hire

May 2012

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.

Speedy, the UK's largest tool hire firmâ€™s, preclose statement ahead of results on 16 May said the year ended as expected with sales up 5% year-on-year and profits in line with broker forecasts (Â£12m pretax). But the biggest keynote is that net debt has fallen almost Â£38m to Â£76.3m despite cÂ£19m of net hire fleet investment going in during the period. The Olympics and the Jubilee celebrations will of course disrupt some construction projects in the London area but even so Investecâ€™s forecast of c.Â£16.5m pretax implies pretax profits growing by a third this year. It sets a 36p share price target.The shares have the propensity to rise vertically at some point especially as debt is falling away (ju ...

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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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