City File: Hamlet Group

A CHUNKY, seemingly undervalued new issue hits the market next Wednesday - Hamlet Group, long-established and highly sophisticated importers of garments. The company is well spread, with suppliers all over the Far East and an impressive range of customers. Steady growth over the past few years ended in a turnover of pounds 59m and pre-tax profits of pounds 4.2m in the year to the end of March. With a market capitalisation of nearly pounds 40m at an issue price of 130p, the shares will be far more tradeable than many newcomers, and at 11.5 times last year's earnings, cheaper than many in the sector.