Date: Friday 27 Apr 2012
In the Telegraph, the Questor column puts speciality chemicals maker Croda firmly under the microscope.
It makes many of the ingredients for cosmetics like lipstick and yesterday reported sales up 4.7% in the first quarter. The shares have been going great guns this year, up nearly 30% since December. That rise has left them at an earnings multiple of 16.7 times 2012 forecast earnings. Questor says hold
Whitbread, the company which owns the Premier Inn, Costa Coffee, Beefeater and Brewers Fayre chains, achieved underlying profits up 38% in the full year to the beginning of March. For Tempus in the Times this is enough to take a hard look at the stock.
Broadly, Premier Inns and Costa are doing well, Brewers Fayre and Beefeater less so. The shares have gained 13.5% over the last 12 months and now trade at 13 times earnings. Tempus believes the competition is too hot for there to be much progress, the stock is a leave.
Train and bus operator Go-Ahead reported increasing passenger numbers and Tempus likes the fact 90% of the company’s bus income comes from the robust southeast of England as opposed to its transport rivals trying to eek a living in the north. With the stock trading on less than eight times future earnings, Tempus says buy for the long term.
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