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Haynes Publishing

September 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
Shares in DIY car manuals group, Haynes Publishing, have risen another 111p and have more than tripled since our original buy recommendation in February 2002.  The catalyst for the latest surge was its     hugely impressive results for the yearto 31 May, with pretax profit before goodwill rising 148% to £7.7m on turnover up 2% to £38.5m, while earnings were up 127% to 29.9p.  The group generated £9.3m cashflow, which reduced net debt from £6.9m to £5.6m (gearing: 21%) in spite of last August's £2m acquisition of Australian-based Gregory's Automotive Publications.   Thiswas Haynes' best result in its 43-year history, mainly thanks to itsUS operations, (86% of profit) and there's a good chance i ...

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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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