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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Carpetright - Time to sell

June 2003

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:
  • CPR
Carpetright's post-Easter trading update, for the 25 weeks of the second half to 26 April, showed  like-for-like sales falling to  0.4%, which implies a 1.5% fall in the final quarter.   Although UK gross margins improved by 2.5% this was not enough to prevent Numis  shading its earnings forecast to 49.7p and 57.4p for the years ending April 2003 and 2004.  This compares to KBC Peel Hunt's forecast of 58.7p and 67.1p which we quotedin our full write-up last December. We originally tippedCarpetright because of its huge buying power, derived from acommanding 22% UK market share, a benign UK trading environment andits opportunity for European expansion.  But some of these arestarting to unravel. ...

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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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