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Lavendon

September 2015

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:
  • LVD
  • Price:
  • 179.5p
Profit warnings elsewhere in the hire sector have unduly pushed the shares towards where the CEO purchased but Lavendon’s half-year update was reassuringly healthy and profitability, margins and ROCE continue to improve. But the big news was that demand is so strong it is bringing forward £20m of next year’s capex budget to this year. £10m is for the Middle East, £7m for UK and £3m for France and the investment will be weighted towards larger access equipment, such as booms, where demand is higher and competition lower.In the UK (47% sales) sales improved from minus 3% to minus 1% while the mix has continued to switch towards the larger, more profitable machines and hire rates again improved. The ...

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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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