Secondary Recommendation

Courts - Lowly rating ignores value of overseas stakes

August 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.

According to recent market research, 90% of us recognise Courts as aleading retailer of home furnishing in the UK. This is not surprising when you consider that it has been trading since 1850. Yet not many people know that Courts also owns around 250 overseas stores spread across 19 territories, as well as its 107 stores in the UK. The group has listed its shares in five of these overseas locations, including Malaysia, Singapore and Jamaica. These stakes are currently worth Â£180m andwith Courts' UK market value of just Â£155m, this amazingly implies a negative value for the UK business. Thereason for this strange anomaly lies squarely with an extended periodof underperformance in ...

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Courts - Lowly rating ignores value of overseas stakes

August 2002

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