Hello

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

Thanks

KS

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