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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Connaught - Follow CEO’s lead and sell

June 2009

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:
  • 337p
Shares in Connaught have recovered in recent months with positive sentiment driven by respectable interim results. For the six months to 28 February revenues increased 19% to £304m, while pretax profit rose 33% to £17.3m, driven partly by an increase in operating margins from 6.2% to 6.6%. Eps moved up 28% to 7.6p, while net debt increased to £99m from £71m.Once again the social housing business, which provides internal and external repair and maintenance services to housing association and local authority buildings, led the way with sales (entirely organic) rising 18% to £244m and operating profit increasing 28% to £20.2m. This side also took in £385m of new orders and the total order book now stands at £2.7 bn.Mea ...

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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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