City File: In the swim

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The Independent Online
JUST over a year ago, it looked like swimwear and shirt maker Aitch Holdings was drowning in its debts. But a change of management brought a rescue, and Dunkeld, as it is now known, looks set for recovery.

Banking agreements were renegotiated, a refinancing was put in place in January and sales, thanks to strong marketing, went up 8 per cent last year. Like all UK-based textile companies, it is benefiting from the pound's devaluation.

Stockbroker Beeson Gregory is predicting profits of pounds 1.2m this year, putting the shares, at 27p, on an earnings multiple of under seven. Worth splashing out on.

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