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Henlys - First green shoots

April 2002

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:
  • HNL
Bus manufacturer, Henlys, surprised the market, (but not us!) by posting profits 25% ahead of expectations, prompting a 29p leap in the shares.  The main reason for the good figures was a £4m drop in interest costs,  as net debt fell to £280m. But it was the improved outlook statement, reflecting early  signs of a broad based economic recovery in the US, that really cheered investors. Normalised pretax profit, before exceptional items, came in at £31.7m (against £26.7m forecast), with earnings  of 27.8p, on turnover of£716m.   Henlys' largest division is Bluebird (64% sales),which is the largest manufacturer of yellow school buses in theUSA.  As expected, conditions were tough because of a drop inSta ...

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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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