Updates

Polypipe

July 2016

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 shares recovered following a notable improvement in trading with UK sales rising almost 34% to £128m for the four months ending 30 April. Even stripping out the first time contribution from Nuaire, organic growth was +8%. Drilling deeper, residential piping systems increased 19% to £70.6m and commercial & infrastructure piping systems grew 54% to £60.9m.Even its problem child European operation saw sales rise nicely by 25% to £21.2m.No upgrades to forecasts yet but interestingly, one executive director has just acquired 30,000 shares at 317p.Tipped in May ‘15 at 267p the shares, which are trading on a prospective PE for FY’16 of 13.3 (eps: 24p), are still a buy. ...

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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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Polypipe

July 2016

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