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Lennox Holdings - Final results well worth the wait

June 2005

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:
  • LNX
  • Price:
  • 63p
Shares in Lennox have been extremely volatile reflecting the fact that its relatively late final results caused investors' pulses to quicken. But the fretting proved well wide of the mark, with pretax profit for the year ending 31 December bang in line with the float's projections at £1.7m on turnover of £10.3m, while earnings were higher than expected at 6.7p, reflecting a low tax charge of just 4.1%. Operating margins were a very respectable 16.5%. As expected, Lennox is paying a final dividend of 1.35p, while year-end net cash was a healthy £771,000. The tone of Lennox's statement was upbeat with highlights including the successful completion of the new warehouse at Benissa, near Alic ...

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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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