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Investors appear to have been warming to Beattie, which only a few years ago was a slumbering family company with an outdated dual voting structure.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.
Diving in at the deep end is no excuse for shirking the style stakes
- 1 Why I'm on the brink of burning my Israeli passport
- 2 Japanese plant experts produce 10,000 lettuce heads a day in LED-lit indoor farm
- 3 War is war: Why I stand with Israel
- 4 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
- 5 The true Gaza back-story that the Israelis aren’t telling this week
Israel-Gaza conflict: Death toll tops 125 after overnight raids as Operation Protective Edge continues
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Ian Thorpe gay: Olympic swimmer comes out in Parkinson interview
Supermoon 2014: When and why will the moon look bigger and brighter this summer?
Gaza-Israel conflict: Pro-Palestinian demonstrators take to streets of London, Paris and New York in wave of protests
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Australia facing international condemnation after turning around Sri Lankans at sea
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
iJobs Money & Business
£70000 per annum: Harrington Starr: Information Security Manager (ISO 27001, A...
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...
£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...