Market Report: Taking Stock
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Your support makes all the difference.H YOUNG, the distributor, added 8p to 162.5p, a peak, following its third takeover this month. It is paying up to pounds 2.3m for Metro Products, the company behind the Stoplock car immobiliser. The three acquisitions command sales of more than pounds 26m. At the halfway stage Young lifted sales 30 per cent to pounds 38m with profits emerging 34 per cent higher at pounds 2.2m. The market expects pounds 5.25m this year with pounds 5.65m next.
INSURANCE group Ockham, which had intended to float stockbroker Wise Speke, is now planning to sell the firm. Likely buyer is stockbroker Brewin Dolphin, which has an extensive private client business, although other parties are talking to the insurer.
REVELATION Piccadilly, the luggage and niche retailer, rose 0.75p to 6.75p after a near fourfold profits increase to just over pounds 1m. Around pounds 1.6m is likely this year.
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