Updates

Brandon Hire - Acquisitions drive new branch growth

November 2004

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.

Shares in tool hire firm, Brandon Hire, jumped to a new high of 153pafter the company reported forecast busting interim results and severalmore acquisitions. For the six months ended 30 June, turnover increasedby 19% to Â£22.3m, pretax profit rose 101% to Â£2m and earnings rose 65% to 5.1p. Operating margins jumped a massive 38% from 8.2% to 11.3%, reflecting the efficiency gains achieved following its substantial investment in new I.T. systems. The two most encouraging statistics were organic growth of a whopping 15% and the number of trading sites, which increased to 127, already beating the target for the full year. The former was helped by buoyantmarket conditions for its customers and includes a ...

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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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