Updates

Swallowfield

June 2019

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.

Interims for Swallowfield were affected by a weakening UK retail environment and revenues rose 4% to £41.4m with operating profit down from £3.4m to £1.6m. Eps fell from 13.2p to 7.6p.Despite a strong start, helped by positive gifting Christmas sales, the Brands division grew sales just 1.6% (versus expectations at its AGM update of +15%) with operating profit of £0.3m. This slowdown reflected several factors: management’s strategy to discontinue the smaller brands and support certain key ones; reduction by its retail customers in secondary shelf space away from beauty and into other categories including back into grocery. This was particularly true of two of its key grocery retail customers. Thirdly, ...

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Dunelm - Margins and sales up strongly

Premier Technical Services - Liquidity issues receding

Swallowfield - Personal care brands to reach 70% of enlarged profit by 2020 (November 2018)

Swallowfield (September 2018)

Swallowfield - Price target rises 20p to 390p (April 2018)

SWallowfield - Shares spike to over £4 (December 2017)

Swallowfield - Personal care brands could trigger supercharged re-rating (July 2017)

Swallowfield - Shares spike to new high (April 2017)

Swallowfield - Brands division to drive eps from 6.5p to 27.5p between FY15 and FY19 (February 2017)

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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