Updates

Marks & Spencer - Improvement in underlying sales

August 2009

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.

Shares in Marks & Spencer bounced sharply after it reported better than expected trading for the 13 weeks to 27 June. Helped by the sunny and warm weather total UK like-for-like sales fell 1.4%, which was far better than the 4.25% decline seen in the previous quarter. In the food division, underlying sales fell 0.5% while general merchandise fell 2.4%, which compares with declines of 3.7% and 4.8% respectively the previous quarter. The consensus of broker forecasts are pointing to a pretax profit of Â£519m for the year to 31 March 2010, rising to Â£578m the following year, while eps is expected to be 23.3p and 26.3p respectively. We originally added the shares to the portfolio at 215p last No ...

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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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