Investment Column: Beattie looks to expand
Thursday 09 April 1998
Now, however, it is set to expand. It is adding an extra 120,000 of new space to four existing stores at a cost of pounds 12m. But it is also on the look out for new sites and acquisitions are even being mentioned. With pounds 2m cash in the bank, the firepower is there.
Investors appear to have been warming to Beattie, which only a few years ago was a slumbering family company with an outdated dual voting structure.
But the shares have been perking up recently and, from the year's low of 142p in the summer, they rose 14p to a new high of 178.5p yesterday on the back of good results. They showed that profits last year rose by 21 per cent to pounds 9.3m on sales up 5 per cent to pounds 103m.
Beattie seems to have missed out on the windfall money last year but the company says the outlook is encouraging, with trading in February and March "marginally" ahead of last year.
On analysts' forecasts of pounds 9.7m, the shares trade on a forward rating of 11, which looks about right.
- 4 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
- 5 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Michelle Obama highlights harsh restrictions faced by Saudi women after meeting King Salman without wearing a headscarf
Amal Clooney gives excellent response to fashion question at European Court of Human Rights
Isis publicly behead man in Syrian town square for 'insulting Allah' as he screams for help
One spelling error costs Companies House up to £9 million after being sued for ruining business
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
Have we reached 'peak food'? Shortages loom as global production rates slow
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
iJobs Money & Business
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
Competitive salary & benefits!: MBDA UK Ltd: MBDA UK LTD Indirect Procurement...