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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Lavendon - Shares look heavily oversold

April 2015

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:
  • LVD
  • Price:
  • 165p
Lavendon, which rents out powered access work platforms, declared in line results with a notable improvement in ROCE (11.9% vs 10.6%), while the dividend was hiked 30% to 4.6p.Revenues, pretax profit and eps rose 4%, 11% and 9% respectively to £246.3m, £34.1m and 15.7p, while net debt fell from £97m to £89.7m (1.1x EBITDA) albeit flattered by Euro weakness.Its two biggest regions, the UK and Middle East, again performed well with the former (43% forecast 2015 profit) growing profit 24% to £20.4m thanks to a 6% jump in pricing, a shift towards larger, more expensive kit and self-help.In the Middle East (37% profit) rental revenues grew 15% while underlying profit rose 18% to £15.7m, he ...

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Lavendon - Rental Revenues increase (June 2014)
Lavendon - Powered access group sees pick up in UK market (April 2014)
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Lavendon - Middle East to be leading contributor (October 2013)
Lavendon - Trades on unjustified discount to rival firms (September 2013)
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Lavendon - Sharp fall in net debt (October 2009)
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Lavendon (August 2008)
Lavendon - Ninth eps upgrade in little (April 2008)
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Lavendon - Huge eps upgrades (October 2007)
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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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