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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Connaught - Numis ups price target to 284p

December 2006

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:
  • CNT
  • Price:
  • 253p
Following a relatively quiet period, shares in social housing contractor Connaught sprang to life and hit a new high of 253p, after it announced a strong set of final results. For the year ended 31 August, pretax profit increased 46% to £13m while turnover rose 25% to exactly £300m. Diluted earnings were up 43% to 8.8p. Good control of working capital helped net debt to fall from £11.2m to £4.9m. Connaught’s social housing division, which provides repair, maintenance and estate management services for registered social landlords and local authorities, grew revenues by 27% to £260m and operating profit by 43% to £13.8m. Operating margins rose sharply from 4.7% to 5.3%, driven by a larger pr ...

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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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