Updates

Inspace - Needs new contract wins

May 2006

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.

Inspace announced results slightly ahead of expectations although disappointingly, there was no news of further contract wins. Pretax profit grew 36% to £7.9m, on turnover up 45% to £147.5m, while earnings rose 23% to 8.5p. The order book stood at £450m, up from £280m last time, while there was a healthy increase in net cash from £0.04m to £6.1m. Inspace’s Partnerships division, which provides repair maintenance and improvement (RMI) services to homes owned by local authorities and housing associations, was the main driver with sales growing 74% and operating profit increasing 77%. Operating margin rose 0.1% to 7.4%. Encouragingly, the pipeline is strong with £2 billion of potential ...

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