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Glisten - Reduced trading volumes

March 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:
  • GLI
  • Price:
  • 94p
In its update covering the six months to 31 December snacks and confectionery group Glisten noted first half operating profit will now be behind the previous year due to under-recovery of overheads caused by reduced trading volumes. Indeed, while Glisten's headline sales growth was 6%, underlying sales excluding a first-time contribution from Snacks Unlimited fell 4-5%. The main reason has been increased promotional activity by branded rivals, displacing some of Glisten's everyday business. Although net debt has increased from £25.1m to £27.4m - that’s post a £3.2m deferred payment for an acquisition - Glisten still has good headroom on its banking facilities. The group claims that H2 should be better, underpinned by s ...

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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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