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Inspace - 10th largest player in social housing

November 2005

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:
  • INSP
  • Price:
  • 144p
We re-recommended shares in Mears last month at 266p. Those shares were trading at just 58p when we first alighted upon them four years ago and since then, they have almost quintupled as investors have noticed the scale of the transformation coming about as a large proportion of council-owned housing has transferred to housing associations. That opened up a lot of backlog maintenance for the social housing sector which, although unlikely to have been a priority under local authority ownership, has been tackled by the 1,900 housing associations and released a wave of spending. Not only has Mears delivered compound average annual growth of 39% in the past three  years but chief executive Bob Holt has proved a one man investor relation ...

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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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