Updates

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.

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 Â£30.7m on turnover that rose 40% to Â£553m. Diluted eps increased 49% to 17.5p. The other highlight was the increase in its order book from Â£2.1 bn a year ago to Â£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 Â£447m while operating profit ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

Greene King - Well run pub operator on PE of just 5.4

Valiant Petroleum

Connaught - Follow CEOâ€™s lead and sell (June 2009)

Connaught - Â£800m of new orders (August 2008)

Connaught - 99% of forecast revenues booked (June 2008)

Connaught - Â£455m in new contract wins (April 2008)

Connaught - Wins new contracts worth Â£370m (March 2008)

Connaught - Wins new orders worth Â£185m (February 2008)

Connaught - Shares rise more than 50p (December 2007)

Connaught - Makes £91m acquisition (November 2007)

Connaught (October 2007)

Connaught - Take a part profit (June 2007)

Connaught - Shares up 200% since entering (April 2007)

Connaught - Numis ups price target to 284p (December 2006)

Connaught - Shares go ex a 5 for 1 split (July 2006)

Connaught (June 2006)

Connaught - Social housing contractor going great guns (December 2005)

Connaught - Contract wins push shares about Â£7 (October 2005)

Connaught - Hits all-time high (July 2005)

Connaught - New 40.2p earnings forecast for 2006 (February 2005)

Connaught (November 2004)

Connaught - Expands into Wales (October 2004)

Connaught - Two large contract wins (September 2004)

Connaught - Â£19 billion social housing maintenance backlog (May 2004)

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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X