News blog

Best of the Best

• BY: Andrew Hore |
• POSTED: 16/07/2008 |
• COMMENTS: Add yours

Best of the Best coped well with the loss of its stand in Heathrow Terminal 3.

The company, which organises competitions to win luxury cars that it displays in airport terminals, had its Terminal 3 stand taken away In November 2007 when BAA wanted to make changes to the terminal. This was one of the company’s best performing stands. The new stand at Terminal 5 wasn’t launched until March.

Second half revenues and profits were similar to those reported in the first half but lower than the second half of last year.

Turnover increased from £5.86m to £7.26m in the year to April 2008 as a whole. Profits rose from £710,000 to £856,000. A maiden dividend of 1p a share has been declared.

The balance sheet remains strong with net cash of £1.7m.

Best of the Best has signed a seven year agreement with BAA. This will still hold even if some of the airports are sold off. There is still some uncertainty over how things will go at Heathrow. The management admits that BAA keeps changing its mind so there is no guarantee that it won’t decide to do something that will mean one of the company’s stands will have to be closed. The new Copenhagen site will contribute a full year’s figures and a stand at Bristol airport will open in August.

House broker Charles Stanley forecasts an improvement in profits to £1m this year.

The shares ended the day down 3p at 31.5p. That puts the shares on six times prospective earnings. Best of the Best is valued at £4m, compared with its net asset value of £3.79m.

© 2007 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

• $10bnForecast size of the coronary market by 2010
  
• 1200Number of clinics registered to provide laser treatment in the UK
  

News Blog

All micro news

EBTM

Music inspired fashion retailer EBTM is selling its Lowlife brand back to its former owner.

Continue reading... | 14/10/2008

Stratex International

Stratex International has agreed joint venture terms with ASX-quoted Syrah Resources which will cover its Altintepe and Inlice projects.

Continue reading... | 13/10/2008

Gladstone

Constellation Software Inc has made a 25p a share bid for membership and education software developer Gladstone.

Continue reading... | 13/10/2008

Wagon Group

One week after transferring from the Main Market to Aim Wagon is running short of cash and its shares have been suspended. 

Continue reading... | 13/10/2008

All micro news