Updates

JJB Sports - Founder confirms buyout interest

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.

We recommended JJB at 162p in November, based on the expectation that founder, David Whelan, would launch an attempt to takethe company private. His interest was confirmed at JJB's results announced on 8 April, for the year ending January and the shares have now risen 29%. The results were in line with the forecast,with pretax profit falling 18% to Â£90.3m, on turnover up 26% toÂ£934m. Gross margins in the core JJB business fell from 49.1% to47.3%, because of widespread price discounting, reflectingintensifying competition. Current trading conditions remaindemanding, with like-for-like sales for the eight weeks to 23 Marchfalling 0.9% at core JJB and 6.2% at TJ Hughes. However, margins ha ...

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Games Workshop - Trading ahead of expectations

Haynes Publishing - Gain to date: 103%

JJB Sports (June 2004)

JJB Sports - Excellent price for TJ Hughes (January 2004)

JJB Sports - Largest sports retailer sees recovery in margins (December 2003)

JJB Sports (November 2002)

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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