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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Clinton Cards

November 2002

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Clinton Cards, 185p (market cap: £128m) is the UK’s largestgreetings card retailer, trading from 670 outlets. Its shares have beenon an uptrend since they hit a low of 86p in November 2000 in theaftermath of a profit warning. Clinton, which has grown its UK market share to 17%,  has notbeen  helped by the perception among some investors that it hasrun out of room to expand. However,  the company has successfullyrubbished that view  by introducing a number of initiatives that,taken together, could lead to an 85% increase in selling space, fromthe current 1.09m sq. ft,  over the next seven years. The first of these is to roll out 50 new "superstores", which wouldtrade  from an average 6,000 sq ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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