Primary Recommendation

Findel - PE of 7.7 versus sector average of 14

September 2009

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.

A company whose largest division is catalogue home shopping for those on low incomes might not appear an obvious good investment - especially if the company has a huge burden of debt and has predictably just seen a huge increase in bad debts amongst its customer base. But paradoxically, in the case of Findel this desperate weakness makes the shares a buy since investors had already sold down the shares so savagely ahead of a debt restructuring in July.Although Findel still has a big chunk of debt it looks no basket case. Ownership of the 25 or so catalogues and websites gives it the position of being the fourth largest direct mail order company in the UK and it also owns the UK's leading educational supplies business to schools. B ...

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Market Comment - September '09

Caretech - Margins go through the roof: 24.3% H109 vs 22.9% H108 vs 18.8% H107

Findel - Soon-to-be-prospective PE of just 7.9 (March 2015)

Findel (January 2014)

Findel - Highly geared for the long haul (September 2013)

Findel - Express Gifts momentum continues (July 2013)

Findel (April 2013)

Findel (February 2013)

Findel - Shares spike up on institutional buying (January 2013)

Findel (December 2012)

Findel -Prospective PE of 6.2 (November 2012)

Findel (May 2010)

Findel (February 2010)

Findel (October 2009)

Findel - Forecast upgraded following GLS acquisition (January 2005)

Findel - No loss of momentum on either side (June 2004)

Findel - Subprime recurring revenues (July 2002)

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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