Findel (LON:FDL) (9p and now 3% of JIC portfolio) will issue a Q3 trading statement next Wednesday for the 16 week period to the 18th January. With its half year results issued on 27th November it said that the 8 weeks to the 23rd November had seen sales up 7.7% on the prior year. I am taking the view that it will have had a reasonably strong Xmas period given the trends that have been seen in retail sales generally over the period; namely an increase in online sales.
On consensus earnings forecasts the shares are valued at 10x March 2013 earnings, falling to 7.1x March 2014 and only 6x March 2015. If the recovery in the business that has become increasingly evident in recent months continues there is, in my view scope for the shares to record considerable gains from here. When I bought the intial holding on 29th November at 7.1p I only bought a 1% holding. I have increased that to 3% today. (see transaction history)
I have funded the increase by realising profits on two of the larger holdings in the portfolio; easyJet reduced to 5% and Quindell reduced to 6%.
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About the Author
Johnrosier
I manage my subscription website www.JohnsInvestmentChronicle.com in which I show my portfolio and all transactions. I blog within an hour of trading, with an explanation, and send an alert email to all my subscribers. I do not pretend to have all the answers but I hope my portfolio, and the trades, provides food for thought as well as helping those who are new to managing their own portfolios.I think what I do is unique. There are plenty of tipsters out there who will remind you of the good ones and quietly forget the duffers; I do not have that luxury as the portfolio is there for all to see. I have to confront my mistakes and deal with them. A tipster also does not show how a tip fits into the context of an overall portfolio. My portfolio of up to 30 holdings has different holding sizes based on my conviction behind the stock and its risk. I set up www.JohnsInvestmentChronicle.com in January 2012. Prior to that :In September 1984, I left university with a degree in Zoology and started work in the City of London. Over the next twenty five years most of my time was spent managing UK equity portfolios with Fleming Investment Management and Henderson Global Investors, for company and local authority pension schemes as well as the reserve fund for a well known charity. During 2009 I left full time employment and decided to take time out to consider the next stage of my career. In the meantime I have been putting my years of experience to good use investing the family savings. I have thoroughly enjoyed the freedom of investing from home and despite some tricky periods during 2011 it has been a rewarding experience. more »
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