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Connaught - Shares fall on social housing worries

December 2008

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:
  • 343p
The shocking trading update from Rok, 28p and particularly its comments about a weakening in the social housing contracting market (see update on page 7) are the reasons shares in social housing maintenance firm Connaught have fallen out of bed. Ironically, Connaught's own results for the year to 31 August were more than respectable with pretax profit increasing 73% to £30.7m on turnover that rose 40% to £553m. Diluted eps increased 49% to 17.5p. The other highlight was the increase in its order book from £2.1 bn a year ago to £2.6 bn. On the social housing side, where Connaught repairs roofs, walls and windows as well as replacing bathrooms, kitchens and broken toilets, revenues increased 28% to £447m while operating profit ...

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