Updates

Highbury House - Disposal still awaited

October 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.

After more than doubling from our April recommendation price, sharesin Highbury House have pulled back slightly. This follows its announcement that annual results are unlikely to match last year's levels. In the six months to 30 June turnover fell 3% to Â£44.7m and profit before amortisation and exceptionals was 16% lower at Â£3.2m. As previously telegraphed, Highbury took a goodwill impairment charge of Â£26.9m. Once again it was a taleof two halves, with the consumer publishing side going well(circulation up 3%, advertising up 2% on like-for-like basis) andposting underlying profit growth of 7%, but the business titles sawadvertising revenues and profit both decline by 19%. Theshortfall is coming ma ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

Wembley - Disappointing indictment

TMI Trader Portfolio - October

Highbury House - Cut losses (September 2004)

Highbury House (July 2004)

Highbury House - Sharp rise in gearing (May 2004)

Highbury House - Allays trading fears (March 2004)

Highbury House - Increasing consumer publishing exposure driving re-rating (September 2003)

Highbury House - Cheap magazine publisher (May 2003)

Highbury House - Consumer publishing doing well (April 2003)

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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X