Updates

Alexon - Signs of end to growth; take profits

August 2004

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.

Another that we are inclined to take profits on is diversified clothing retailer, Alexon, whose shares have performed nicely since ourmain write-up at 193p in March 2002. Back in March the company announced record results for the year ended 31 January, with turnover up 4.5% to Â£417m, pretax rising 7.5% to Â£32.8m and earnings increasing a much higher 18% to 40.7p, thanks to a sub normal 23% tax charge. We recommended Alexon, whose core business of Alexon brands, includes names such as Minuet, Anne Harvey and Eastex, at a time when the company was just beginning to get to grips with three ambitious acquisitions it made in 1999. These were Dolcis (shoes), Bay Trading (young ladies fashion) and Style (me ...

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Topps Tiles - Good opportunity to take huge gains

International Greetings - Net cash jumps to over Â£10m

Alexon (February 2004)

Alexon - Redeems £20m preference shares (November 2003)

Alexon - Strong recovery from Dolcis (May 2003)

Alexon (February 2003)

Alexon (November 2002)

Alexon - Still undervalued on PE of 8.4 (May 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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