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Primary Recommendation

Spring Group - First half profits should please

September 2004

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:
  • SRG
  • Price:
  • 118p
The first observation when looking at shares in the recruitment company, Spring Group, might be that the business is just too big to perform.  That observation should be valid as Spring is the sixth largest recruiter in the UK and also the largest IT contractor. However, it would be unfair to make that judgement. The results last year showed the business’ revenues growing by almost 50 per cent to £348.4m of which 28 per cent was as the result of an acquisition included for part of the year and 22 per cent was from organic growth, suggesting Spring is enjoying much better times in its markets. The shares also look cheap given that the company has cash of £36.5m or 24.8p a share. On the basis of earnings estim ...

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Spring (June 2004)

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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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