Half-year portfolio review featuring Supergroup, IMI, BAT & Tesco

Friday, Oct 12 2012 by

Thought I’d do a half-year review. In October? Yes – I’ve decided to switch over to tax years, as it makes my accounting easier.

Biggest coup this year has been SuperGroup (LON:SGP) – up 56% since I bought. I’m really happy about that one. I still hold. The market has been in ful swing lately, so most of my shares have been going swimmingly. I’m in severe danger of confusing genius with a bull market.Value has done well, growth has done well, it’s all good.

It’s worthwhile mentioning that Dechra Pharmaceuticals (LON:DPH) – which is a nice steady compounder – is up quite nicely despite having long stretches where it goes nowhere. Just goes to show that it pays to have patience sometimes. Also, some of my high-growth shares have done very well (CRW Craneware up 42% since I bought), despite being very off-putting to value investors who must consider the PEs way too high.

JD has had a bumpy ride when I last suggested a top-up at 678p. It’s now 768p, up 13%. Not bad, although it’s still volatile. Buying on an EV/EBITDA of around 3 gives you a lot of protection, especially given the good track record of the company.

Man (LON:EMG) up sharply today on bid rumours … which brings me to:

IMI (LON:IMI) – a Footsie industrial engineering company. I bought last year at 1132p, and it now stands at 924p. Not a great idea on my part. At the time I bought it, there was heat on the company with bid rumours. If you look at sites like ADVFN, the boards are littered with bid rumours that never amounted to anything. Repeated note to self: never never NEVER buy a share that has bid rumours floating around. I half think that investment bankers peddle these rumours around in order to excite deals.

Tesco (LON:TSCO) – down from my purchase price of 327p in january to 311p today. I’m very disappointed in my selection here, as I thought it would recover a lot sooner. It’s now on an EV/EBITDA of 5.63 – which must be about the cheapest valuation I’ve seen in the current market for a strong defensive company. I’ll continue to hold. I’ve set…

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IMI plc is a United Kingdom-based specialized engineering company. The Company is engaged in designing, manufacturing and servicing engineered products that control the precise movement of fluids. The Company operates through IMI Critical Engineering, IMI precision engineering and IMI hydronic engineering segments. The IMI critical engineering segment provides flow control solutions that enable vital energy and process industries to operate competently. The IMI precision engineering segment specializes in developing motion and fluid control technologies for applications where precision, speed and reliability are essential. The IMI hydronic engineering segment is engaged in designing and manufacturing technologies that delivers heating and cooling systems to the residential and commercial building sectors. Its brands include IMI Norgren, IMI Buschjost, IMI FAS, IMI Herion, IMI Maxseal, IMI Bopp & Reuther, IMI CCI, IMI Fluid Kinetics, IMI InterAtiva, IMI NH, IMI Remosa and IMI Orton. more »

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About Mark Carter

Mark Carter

I am a private investor living in Scotland. I am a computer programmer by trade.


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