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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Powerleague - Price target raised to 130p

December 2007

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:
  • PWR
  • Price:
  • 98p
Five-a-side football pitch operator Powerleague has reportedexcellent results for the year ended 30 June with pretax profitincreasing 27% to £5m (ahead of forecasts of £4.8m) on turnover whichrose 12% to £23m. Adjusted eps rose 27% to 4.5p (beating estimates of3.9p) thanks to lower than expected tax of 26% arising from a change inthe rate of deferred tax provision. Net debt was broadly unchanged at£18.5m, leaving gearing at 96%.Growth came partly through a 5% increase in like-for-like sales,driven by better pitch utilisation and also through the first timecontribution of three new centres at Cardiff, Milton Keynes and London.The latter takes the total to 37 sites with 379 floodlit all weatherpitches. Gross margins improved by ...

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