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Haynes Publishing - Gain to date: 103%

May 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:
  • HYNS
The shares gained 22p to 205p following the  announcement that results for the year to 31 May will exceed market expectations.  Haynes, which is the largest publisher of automotive and  motorcycle repair manuals, was a company we identified in February 2002as an excellent recovery prospect, following  its Chairman's largeshare purchases at 84p and its success in raising cover prices in its largest market (the US) for the first time in years.  And so it has proved.  Latest interim results showed earnings rising 81% to 13.6p, pretax profit  up 136% to £3.3m and turnover up 5.8% to £19.9m.  Operating margins nearly doubled from 9% to 17.6%.  Haynes' financial position is also rosier, with  ...

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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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