Equities

The Trolley Letters

The Trolley Letters

5 mins. to read

10 December 2015 Dear Mr Sainsbury On behalf of the Tonbridge WI, I would like to congratulate you on the quality of your Sainsbury’s Exceptional Mince Pies this year. Last year, the ladies opined that they contained an excess of cinnamon, and our Treasurer, Mrs Bland, who is allergic to unnecessary foreign ingredients, experienced palpitations.…

Has British American Tobacco lost its spark?

Has British American Tobacco lost its spark?

5 mins. to read

British American Tobacco has outperformed the market over twelve months but significantly underperformed Imperial Tobacco, which has been born aloft on takeover stories. The sector, despite its defensive qualities, is currently a bit on the heady side. I last put pen to paper on British American Tobacco (BATS) seven months ago, when the share price…

Cyber-security: the new arms race – and how to profit from it

Cyber-security: the new arms race – and how to profit from it

14 mins. to read

As featured in this month’s magazine. 2015 will go down as the year when cyber-security entered not just the mainstream media, but also board rooms and executive offices. Making sure that customer information and other sensitive data stays safe has become recognised as a subject that can take down CEOs and even entire companies. Ashley…

Thomas Cook results offer encouragement despite headwinds

Thomas Cook results offer encouragement despite headwinds

4 mins. to read

Thomas Cook (TCG) has just reported its results for the year to 30th September 2015. As an investment, it is highly speculative because of the absence of net tangible assets and the share’s lack of dividend support. In consequence, it also has a share price that is notably volatile. Way back in July I thought it worth…

How solid are British Land’s foundations?

How solid are British Land’s foundations?

4 mins. to read

British Land shares at 818p after the interim results for the half year to 30th of September. The shares on the basis of the increase in the net asset value look as though they want to trade up again towards the top of this year’s trading range, where they would be selling at net asset…

Starcom back on track?

Starcom back on track?

6 mins. to read

Just after Christmas last year investors got excited with tracking products business Starcom (STAR) as the firm announced a tie up with a Porsche dealership in Germany to supply one of its products. On the back of the deal the shares surged by 258%. But since then they have come back down to near all-time…

Where next for NEXT?

Where next for NEXT?

5 mins. to read

The Next (NXT) 7,835p share price valuation seems to assume low earnings growth in comparison with the rates actually achieved over the last five years. It has also become a high dividend paying stock – at least for this year and next according to consensus forecasts. The company is still growing its store and directory…

Time to go shopping for Sainsbury’s?

Time to go shopping for Sainsbury’s?

5 mins. to read

Sainsbury at 253p after the interim results. The traditional quoted food retail sector is still undergoing a big change on an undetermined time scale. On that basis, Sainsbury shares may not look an obvious buy. However, I argue that the shares are attractive when the financial fundamentals are recognised.  The shares, after the results of the first half of the current year, are…

Marks Sparks Back Into Life

Marks Sparks Back Into Life

4 mins. to read

Marks and Spencer at 507p, after the recent results for the six months to 26 September 2015. The encouraging features included better cash flow, further growth and progress in food, improving margins on general merchandising, and a telling 6.3% increase in the interim dividend.  As a man who was previously unwilling to throw Marks and…