Updates

Spice Holdings - Shares establish new uptrend

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.

News that Spice’s final results were ahead of upwardly revised expectations sent the shares to a new high of 299p, well ahead of the 129p at which we originally tipped them in October ‘04. For the year ended 30 April, Spice generated a 42% increase in pretax profit to £7.4m on turnover up 55% at £133m. Earnings increased 33% to 16.1p. In a hyperactive period, Spice made six acquisitions, paying a total of £30.6m up-front, with up to a further £10.3m payable depending on future performance. Not surprisingly, it has simplified its structure and now reports through two divisions; Utility Services (the original water, electricity and telecoms services divisions) and Commercial Services, a brand ne ...

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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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