Some excelent growth to be had here even in this dowdy industry.

Shrewd Tip: Floors2go through the roof?

Published: 07:04 Mon 5 July 2004
By Patrick Sherwen, Deputy & Secret Buying Editor
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Floors2go only listed on the Alternative Investment Market (AIM) on 1 April but AAA-rated fund manager Patrick Evershed is no fool and has taken a secret stake in the company.

Floors2go (FGO) claims to be one of the UK’s largest specialist retailers of hardwood, laminate and engineered floors and accessories with 100 stores. It is a cash-rich, high growth company whose products experience growing demand helped by makeover TV shows such as Changing Rooms. Turnover quintupled between 2001 and 2003 to £44 million.


The shares started trading on AIM at 48p. By early May they reached 74.5p but have since dropped back to 56.5p, which values the company at £74 million.


Evershed, who runs the New Star Select Opportunities fund, bought in late May when price was about 63p. Our sources suggest he bought 250,000 shares in one transaction. This is equivalent to 0.19% of the company.


One of the company’s largest investors is top-performing investment boutique Artemis, which controls 5.54%. Artemis boasts several Citywire rated managers including Derek Stuart and John Dodd, who are both AAA, thanks to their first class risk adjusted returns.


Ian Currie, chief executive of Zeus Capital, which is one of the company’s financial advisers, is the largest shareholder with14.6% and his colleague Richard Hughes is not far behind with 11.88%.


Already the company has attracted buy ratings from house broker Numis and Shore Capital, which forecast a 240% profit increase by 2005 to £10.2 million and earnings per share of 5.05p in the same year. This values the company at an attractive 11.2 times expected earnings. Buy.


* This article also appeared in yesterday's Financial Mail on Sunday.ENDS.

Well I cant think of anything more boring than floors to invest in just looking at those figures though this morning had me drooling in anticipation of big things to come.
cheers GF.

Please DYOR you are responsible for the timing of your buying and selling action

Rise at the vey end of the day. The morning could be very interesting.

Wonder what re- action we will get.

cheers Gf.

Excelent maiden interims from this one. Paticulary pleasing was the increase in gross profit margin up to 47.3%, I am sure now Evil K will be blasted out of this one.

Heres the results...............................

Floors 2 Go PLC
02 September 2004


The following meetings will be held today at Buchanan Communications, 107
Cheapside, London, EC2:

Analysts: 10.00 am
Press: 11.30 am
PCB Lunch: 12.45 pm


For further information or if you would like to attend a meeting, please
contact: Lisa Baderoon/ Rebecca Dietrich or Charlie Forsyth on: Tel: 020 7466
5000


For Immediate Release 2 September 2004


Floors 2 Go plc


MAIDEN INTERIM RESULTS
- For the Six Months Ended 30 June 2004 -

Floors 2 Go plc ('F2G') (AIM: FGO), the UK's largest specialist multi-site
retailer of solid wood, hardwood engineered, and laminate flooring products, is
pleased to announce the Company's Maiden Interim Results, for the six months
ended 30 June 2004. These results follow F2G's successful flotation on the
Alternative Investment Market of the London Stock Exchange ('AIM') in April of
this year.


Financial Highlights

Turnover increased by 124% (15.6m to 34.9m)

Like for like turnover up 32%

Gross profit margin increased by 1.7% (45.6% to 47.3%)

Operating profit before goodwill amortisation, interest and tax
increased by 314%

Operating profit margin (before goodwill amortisation, interest and
tax) increased by 3.8% (4.5% to 8.3%)

Earnings per share (before goodwill amortisation) 1.2p

117 stores now open and operating

Highlights since period end

Growth remains strong with overall sales up by 69% and like for like
sales up by 22% for the nine weeks ended 31 August 2004

Successful August bank holiday weekend

Commenting on the announcement, Simon Farnsworth, Chief Executive Officer said:

'The strong performance achieved to date will continue to encourage confidence
that we are poised for another year of significant growth.


For further information:
Floors 2 Go plc
Simon Farnsworth Tel: 0121 359 0234

Zeus Capital
Keith Salisbury Tel : 0161 831 1512

Buchanan Communications Tel: 020 7466 5000
Lisa Baderoon/Tim Anderson/Rebecca Skye Dietrich
ENDS.

cheers GF.

Bumper maiden results from Floors 2 Go
MoneyAM

Floors 2 Go PLC posted a significant rise in operating profits in its first interim results since listing on AIM in April and said it is confident of growth this year.

For the six months to June 30, 2004, operating profits before goodwill amortisation, interest and tax increased to 2.9m from 700,000 a year earlier.

Sales rose to 34.9m from 15.6m last time.

Looks good- I'm tempted.

Nicely up, can only think Evil K will be out of these tomorrow. He said he thought the margins would drop but in fact they have gone up.

Will get to know friday afternoon.

cheers GF

Hey guys, I haven't got any of these, but I would seriously stick with them. There is a guy called Ian Currie part of Zeus Capital (also an non-exec Director at Bolton Wanderers) that has bought 25% a while ago. He is the most financially astute person I have ever heard about... he is the type of fella to follow into anything.

Will be interesting to see where they are going from here... only 1 way from here I think.

From growth company investor.

Floors 2 Go - BUY
Wood and laminate flooring retailer Floors 2 Go, which listyerd omn AOIM in June, has produced impressive maiden interim results with operating profits before goodwill amortisation, interest and tax surging 314% to 2.9m on turnover rising 124% to 34.9m........
02/09/2004

cheers gf.

Victoria Carpets took one mighty whack after the profits warning today(25% drop) where as FGO reported cracking results last thursday.

Just goes to show that wooden flooring is all the rage at the moment and carpets are being looked upon by the younger generation as naff.

Mind I have wooden flooring in my bathroom and kitchen but personally I dont feel you can beat a good shag in the lounge.

cheers Gf.

GF

Oh memories such sweet memories.

A trembling Mickeyskint.

LOL.

GF whats happened lateley as the price has slide recently ???

Just amazes me Gordon how this one doesnt respond to good news. Fantastic last results and outlook very bullish but share price slides.

Numis banged a buy note on it on friday at up to 90p, so we will have to see if this as any effect. Must admit my patience is wearing a bit thin.

cheers GF.

GF going to get in they were compared to topps tiles and carpetright as
poss leaders in their markets looks like might have to wait for update or finals ?

any news on servicepower ?? drifting back

dr keith pacey non exec of FGO about to come into money


Chris Barry
MANCHESTER venture capitalist Montagu is set to pull off its second major deal in the past fortnight with a 240m swoop for electronics retailer Maplin.

Maplin, which sells everything from TV aerials and disco lights to anything the budding nerd neeeds to build his own PC, is headquartered in Yorkshire and has 80 stores nationwide.

In the north west it has two outlets in Manchester and stores in Salford, Stockport, Warrington and Preston.

Two weeks ago Montagu announced it was backing a 146m management buyout of Survitec, which makes military safety equipment.

It is understood that Montagu fought off competition from nearly a dozen other would-be owners.

Maplin is currently owned by its management team and another venture capitalist, Graphite Capital.

Graphite bought a 70 per cent stake in the business when it backed a 42m management buyout in 2001.

The eight members of the management team, led by chairman Dr Keith Pacey, who has a doctorate in electronics, will share a paper fortune of 44m.

All are expected to continue to manage the firm, reinvesting a big chunk of their equity in the business.

At a valuation of 240m, the bosses' holding has increased six-fold since the 2001 deal.

In the year to last December, Barnsley-based Maplin made profits of 12.4m on sales of 99.2m.

Graphite Enterprise Trust says it is in talks over the possible sale of its stake, while Montagu was not available for comment.

Graphite's statement said: "While discussions are under way that may lead to the disposal of the trust's investment in Maplin, no binding agreement has been reached.

nearly all buyers today yet prices down ??

on the move todqay but some sellers around so perhaps 20% recent gain stalling ?

Well at least is better than nowt gordon.

cheers GF.

the rally seems to be holding someone just pd 70p for 25k worth surely something drving this ??? any views

Tuesday's Constant Gainers & Losers
MoneyAM

Floors 2 Go is 17.7% better at 66.5p, helped by a major share purchase by the Chairman late last week..

Lovely just lovely,get the fundies right and patience pays in the end. HCEG flying, WLF flying, Hamworthy flying, Neteller flying and Evil K closed out and just to cap it all tonight in fly these boys and Evil K closing once again, dont think he'l speak to me next time I phone him , what a fantastic week..................................

Friday Closing Market: Floors 2 Go receives takeover bid
Published: 17:23 Friday 17 December 2004 < PREV | 1 | 2 | 3 | 4 | NEXT > TOTAL PAGES: 4
By Dylan Lobo, Market Reporter
12:41 Fri 17 December 2004 read


The FTSE 100 ended the week on a gloomy note, but Citywire tip Floors 2 Go provided some late excitement after confirming it has received a bid from a private equity firm.

Floors 2 Go (FGO), which supplies laminate and hardwood flooring, surged by 12p, or 14.2%, to 96.5p, taking its market capitalisation to 126 million. The group said talks were at an early stage and that there was no certainty that an offer for the company would materialise.ENDS

Might be more to come aswell,

cheers GF.