Updates

Topps Tiles

October 2011

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.

Topps' preclose statement said that for the year to 30 September overall UK revenues will be £175.7m, a like-for-like decline of 1.9%. That masks the savage 10.4% decline in Q4 when weak consumer confidence hit sales hard. Peel Hunt's reduced forecast is at the top end of the consensus range, with a pretax forecast of £13.5m for eps of 5.3p. We added the shares to our Growth Portfolio at 26p in March ‘09 and took a part profit at 90p in Sept '09 but with the shares capable of a very sharp recovery once the consumer sentiment improves, they are worth watching for an opportunity to buy back in. ...

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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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