Updates

Spice Group - Strategic platform for social housing?

October 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.

Spice has announced two more acquisitions. The purchase of Circle Britannia and its sister company Serviceline in the FM sector looks strategically the more important. Spice has paid £15m for them funded by a placing of 7m new shares at 214p to raise £14.5m net. Circle operates in two main areas: (a) the provision of planned & reactive mechanical, electrical and fabric maintenance services to commercial customers and (b) work arising from domestic insurance claims on behalf of insurance companies. The work ranges from planned maintenance such as the testing of fire alarms and emergency licensing to reactive maintenance involving the provision of heating engineers, plumbers, decorators and locksmiths. Circle Britann ...

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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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