Date: Tuesday 08 Jun 2010
Workspace remains a call on the fortunes of London’s smaller businesses — and a bet that they will emerge unscathed from this month’s austerity Budget. At 22p, or a 19% discount to historic net asset value per share, and providing a 3.4% dividend yield, there is better value elsewhere. Pass says the Times.
Brit's pre-tax net exposure to the recent earthquake in Chile was $71m. The shares are trading on a December 2010 earnings multiple of 7.2, falling to 5.7 next year. They are a buy for the 8.4% yield in turbulent times. Buy and tuck the shares away suggests the Telegraph.
Phoenix IT is a rather odd sort of bird: a small-cap computer services group with no obvious peer. It provides disaster recovery — effectively emergency back-up IT services — from 18 sites across the country; acts as a sub-contractor to larger technology and telecoms groups and, through its Servo division, sells outsourced IT services to mid-sized companies. At 234p, Phoenix could follow the likes of Morse in attracting takeover interest. Either that, or the company should be able to use its stronger balance sheet to pursue acquisitions that might close the valuation gap with its peers. Buy says the Times.
Brammer remains one of the stock market’s industrial bellwethers — this small-cap company distributes components used to repair manufacturing lines. Brammer’s sales are now on a roll: ahead 10.1%in April and 15.5% in May — a pattern of double-digit gains that it expects to persist into June. On 13 times 2010 earnings, there is every reason to hang on says the Times.
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