The Investment Column: A soft landing for Uno
Tuesday 27 January 1998
However, the sales boom failed to materialise. People appear instead to have splashed out on a holiday of a lifetime. Growing fears that the economy is running out of steam together with the slowdown in the housing market and higher interest rates have seen share prices across the sector fall out of bed.
Uno has suffered along with the rest. Its shares fell another 8.5p to 261.5p yesterday, having slipped from a peak of 337.5p last year. However, Uno looks a better bet than most. In an fragmented industry, it looks like the small, independent operators are suffering the most, with larger players like Uno continuing to pick up market share. That trend should continue as Uno rolls out its chain across the country. Its policy of avoiding the high street for out-of-town sites is also proving popular with customers. The group enjoyed a good Christmas and, more importantly, a strong-trading performance in the January sales.
The jury is still out on last year's acquisition of World of Leather. Uno has cut prices and is busy updating the stores. Refurbishment costs and a new advertising campaign will impact on margins in the short term. However, early sales figures look encouraging.
Profits for the six months to November rose to pounds 495,000 (pounds 306,000) Societe Generale has edged up full-year profit forecasts to pounds 4.65m for the year to April and pounds 6m next year, putting the shares on a prospective price- earnings ratio of 15, falling to 12. Good value.
- 1 Germanwings crash: Police make 'significant discovery' at home of co-pilot Andreas Lubitz
- 3 Zayn Malik already working on solo material, just days after quitting One Direction
- 4 The West has it totally wrong on Lee Kuan Yew
- 5 #FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
Nigel Farage brands LGBT activists 'filth' and 'scum' and accuses them of scaring away his children after they invade his local pub
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Russia threatens Denmark with nuclear weapons if it tries to join Nato defence shield
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Germanwings plane crash live: Andreas Guenter Lubitz intentionally crashed flight 9525 into the Alps in act of mass murder and suicide – latest
iJobs Money & Business
Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...
Negotiable: Recruitment Genius: You will be the first point of contact for all...
£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...
£35000 - £38000 per annum + benefits : Ashdown Group: A highly successful, int...