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Homebuy

September 2006

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:
  • HBG
  • Price:
  • 207p
Homebuy has announced it is seeking further capital which has resulted in a temporary suspension of its shares. The contrast between this development and the bullish preliminary statement and directors buying last month is astonishing. We had followed up those results by meeting with chairman Michael Riding, previously a top level banker with Lloyds TSB; you would have thought that he would be in hiding if a bombshell was about to emerge. The bankers to the company seem to have taken an about turn on the company's facility in the few days since the issue landing - in the light of the rapid growth the company has seen in its profits and borrowing facility and in the light of rising interest rates. Homebuy is a business whic ...

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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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