Hello

Been recommended a stock called Erinaceous Group. Has anyone heard of this company and if so what is their opinion?

Thanks

KS

yep ..if u check out their recent rns ..it was a trading statement released a few days ago ..it is in the property services business ..plenty of high profile clients .. the trading this year has been 'satisfactory' to date ..results out on 9th june 04 ..share price few days ago rose 13p to 151p on the back of this statement .. i don't hold any.. hence no views whether to buy or sell .. but u can more get more info by tawling thru the company's announcements .. hope this help

q. on what basis has this been recommended to you ? just b interested to know thx

My fiance's mate works for a stockbroker or IFA (cant remember which) and they came back from a company presentation saying how the company was vastly undervalued and they aim to be on the FTSE250 in 2-3 years. A lot was self-congratulatory and have heard this sort of thing before, but people she spoke to said it may have been different this time.

They were due to make a few more presentations so i dont know if the recent share price rise is on the back of this or purely fundamentals.

KS

Erinaceous was recommended as a BUY in Investor's Chronicle on 2 Apr. The article said that they are reckoned to be a major player in the sector (property management and related services) in the next few years.

Company - Erinaceous
Recommendation - STRONG BUY
22/07/04

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Sector Mkt Cap at 22/07/04 Price at 22/07/04 Market Place
Support Services 63.45m 142p AIM

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Current price at 23/07/2004: 141.0p



Commentary:
Property services punt Erinaceous, a Growth Company Investor recommendation at 130p, has buoyed investors with bullish AGM comments. The first quarter has shown an improvement over last year and the recent ISG Occupancy (it was bought for 10m in May) traded profitably in its first two months under Erinaceous' wing, versus losses last year. Added to the property services division, ISG brought its expertise with blue chip private sector clients as well as a presence outside the South East. In June, Croydon-headquartered Erinaceous stormed in with terrific maiden preliminaries to March, producing a 71% earnings leap. Adjusted pre-tax profits rose 52% to 6m on turnover of 42.2m (33.7m). The major profits growth came from the residential lettings business, whilst the lower growth rate in property services merely reflected investment in infrastructure. Along with full year figures, chief executive Neil Bellis unveiled the acquisition of North West residential letting and property management business Jordans, which turns over about 2.3m. For 2005, house broker Collins Stewart predicts loftier profits of 8.4m on 67.2m sales, giving EPS of 13.5p and a 4.5p divi payout. A forward multiple of 10.5 is budget stuff for a support services firm of this quality