The Investment Column: Umeco
Thursday 04 November 1999
To enhance its component range and distribution network, Umeco has been on the acquisition trail, spending pounds 24m this year. RD Taylor, a loss-making adhesives distributor acquired in July, is already in the black. Umeco is making progress at doubling margins in the rest of the Ased companies acquired from TI Group at the same time. In the existing businesses, Pattonair International, the components distributor, is enjoying record orders. Its half-year sales were up 35 per cent year-on-year.
The trend among aerospace companies towards farming out the sourcing of components should see Umeco continue to grow even if its customers begin to suffer weaker orders. Analysts expect full-year pre-tax profits of pounds 7.4m and earnings of 31.9p per share, rising to pounds 8.9m and 38.6p in 2001, putting the shares, up 52.5p at 532.5p yesterday, on a forward p/e of 17. Umeco still has a fraction of its addressable market and its success at making inroads suggests the shares are still undervalued.
- 1 Sofyen Belamouadden murder: The inside story of a crime that horrified Britain
- 3 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
General Election 2015: Britain would become a 'communist dictatorship' under Ed Miliband and Nicola Sturgeon, claims wife of Michael Gove
Rupert Murdoch berated Sun journalists for not doing enough to attack Ed Miliband and stop him winning the general election
iJobs Money & Business
£50000 - £55000 per annum: Ashdown Group: Business Analyst - Financial Service...
£18000 - £23000 per annum + OTE £45K: SThree: At SThree, we like to be differe...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is the o...
£22000 - £24000 per annum: Recruitment Genius: This is an opportunity to join ...