Updates

Topps Tiles - Earnings forecast upgraded to 12p

November 2004

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.

Following the sale of nearly 6.5m shares at 183p by co-founder, Barry Bester, representing around a quarter of his holding, Topps Tilesmoved to reassure investors that nothing untoward was going on by bringing forward its pre-close trading statement. This unveiled that like-for-like sales were over 20% ahead of the corresponding period last year, while pretax profit for the year would be around Â£33.5m, which is higher than the prevailing forecasts of Â£31m. In response, broker, DKW has upgraded pretax profit forecasts to Â£33.5m and earnings to 10.4p for the year ending 30 September 2004. For the year just started, the broker expects profit to rise to Â£39.2m, for earnings of 12p. ...

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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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Topps Tiles - Earnings forecast upgraded to 12p

November 2004

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