Updates

Lavendon - â€œSelf-helpâ€ savings could increase

April 2013

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.

The shares have risen after Lavendon, which rents out powered access platforms, unveiled final results at the top end of expectations, fully justifying our main write-up last month.For the year to 31 December revenues rose 4% to £234.6m, while pretax profit increased 26% to £27.6m. Eps gained 28% to 12.8p. If anything, Lavendon's high depreciation charge on its equipment under-states the true picture with EBITDA (underlying cash flow) increasing 5% to a whopping £75.6m. That meant net borrowings fell £10m to £97.3m (with net debt/EBITDA reduced from 1.49 to 1.28 times) in spite of investment on new equipment increasing from £16.9m to £47.9m. Most of its markets progressed nice ...

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Lavendon - Shares cheap on EV/EBITDA of just 5.1 (November 2014)

Lavendon (September 2014)

Lavendon - Rental Revenues increase (June 2014)

Lavendon - Powered access group sees pick up in UKâ€ˆmarket (April 2014)

Lavendon (March 2014)

Lavendon - Middle East to be leading contributor (October 2013)

Lavendon - Trades on unjustified discount to rival firms (September 2013)

Lavendon - Middle East side grows revenues 34% (June 2013)

Lavendon Group - "Self-help" programme driving surge in eps growth (March 2013)

Lavendon - Sharp fall in net debt (October 2009)

Lavendon - Improvement in operating margins (January 2009)

Lavendon (October 2008)

Lavendon (August 2008)

Lavendon - Ninth eps upgrade in little (April 2008)

Lavendon - Forecasts raised again (February 2008)

Lavendon (January 2008)

Lavendon - Huge eps upgrades (October 2007)

Lavendon - Profits upgraded sharply (August 2007)

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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