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

Not following them at present Dill the stories over.
But remember they were a huge sucsess not so long ago 6 bagger+ for some punters i believe, shame i missed it.
cheers
HUSTLER

Could be a 6 bagger on the way down too.

Dill.
Have a look at Global Energy.
Would like your views, Goldfinger and I think
it's about to go into orbit.
Sorry to go of the track on this thread
but anyone reading may recoup some losses
by having a go at Global.
all the best
HUSTLER

Flogged mine when the Bid came in for them. Certainly wouldnt touch them at the moment.

cheers GF.

Dil,

Think your right about asc... i used to hold these, thankfully out a while ago!!

Also have a look at BNH... they report 12jul. House brokers have a 1.30 price tag on it as it stands and will rereview on results. SP currently 98p!!!