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Best of the Best
- BY: Andrew Hore |
- POSTED: 19/07/2007 |
Competitions organiser Best of the Best recovered from a poor first half to report an increase in full year profits.
Best of the Best organises competitions to win luxury cars. These cars are displayed in airport terminals. A ticket to enter costs £20 and the competition lasts four weeks. There are also online sales and the company is looking to provide similar competitions in shopping centres, such as Bluewater. It slumped into loss in the six months to October 2006 because of the airport security scares last summer. In the full year to April 2007 profits increased from £591,000 to £710,000. More recent security scares have only had a minor effect on the company even though it does run a competition in Glasgow airport. Contracts have been signed with three new airport terminals. Charles Stanley forecasts a rise in profits this year to £1.1m, which would give a prospective multiple of 12 at the present share price of 69p. The company is also likely to start paying a dividend.
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