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Inspace

September 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.

  • Epic Code:
  • INSP
  • Price:
  • 104p
Inspace announced a disappointing trading update, which noted that trading is being affected by a lag in winning new social housing contracts as well as an underspend by one existing customer, Barnsley Council. However, the company has attempted to reduce its negative impact through the acquisition of Widacre and Widacre Homes, two social housing builders. In 2005, these businesses made a combined post tax profit of £2.6m on turnover of £129m and are expected to make an operating profit of £6m this year. The acquisition price was £64.5m (£44.5m cash, £20m through the issue of 13.5m shares at 151.5p). As the businesses were acquired from Inspace’s original parent, Willmot Dixon, it will result in ...

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Related Articles

Inspace - Needs new contract wins (May 2006)
Inspace (October 2005)
Inspace - Huge order book in social housing (August 2005)
Inspace - Social housing maintenance firm makes strong debut (July 2005)

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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