Chartists may like this one - albeit I prefer facts, which is what you get every 6 months in Chairman's comments. Have held for several years, as I like to hold for the longer term small/medium businesses with tangible assets, good track record and paying dividends. Downside is lack of liquidity (family control over 50%). Steep recent rise on back of good results but could be more to come. Market cap now just under 30M, looks fair for a solid timber merchants business (been around since 1750!)which made 3M pretax in year to 3/2004 and current year has started well. Modest gearing. Yield 3%. Interesting bit is its former depot on which planning for mixed residential/commercial development recently received on Appeal after a long battle. With the company not needing the cash from the sale there could be a bumper one-off dividend. Anybody care to guess approximate value of just over 13 acres development land in Clapton?

Been a great investment for me since 2002. Interims today not well received, being below very strong comparatives last time. Still the second best first half, cash generation remains good, plenty of cash in the bank. Margins affected by currency, but said to be stabilised and sales ahead. Added a few more on the drop. Always dyor.