Updates

Shoezone

November 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.

Shoezone said H2 has gone well and it expects FY15 sales of £166.8m, down c.£4m due to store closures (28 closed and 18 opened). Pretax profit is expected to be in line with forecasts of c.£10m (eps 15.8p) as lossmakers are eliminated and lower rents agreed on new stores, which tend to be larger with better returns. Shoezone ended September with £14.2m cash, up from £9.1m. For the current year, Numis forecasts £12m pretax/eps 19.2p. After blotting their copy book early on, the shares have resumed the uptrend. Hold. ...

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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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