Bottom Line: Menvier still a buy
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Your support makes all the difference.TWELVE months ago the Independent recommended that investors buy shares in Menvier Swain, the USM- listed maker of emergency lighting and fire detection equipment. Investors who took our advice will have seen 36 per cent of capital growth. Those who did not should climb aboard now.
Pre-tax profits for the year to April, published yesterday, were 30 per cent ahead.
Some of this advance was the result of acquisitions: but the underlying improvement - as measured by earnings per share - was still up by an impressive 21 per cent.
Menvier's main business is installing equipment in accordance with health and safety legislation. That allowed it to cast aside the shackles of recession, and in better economic climates Menvier can only flourish.
Last year's pre-tax profits were pounds 7.6m, up from pounds 5.9m and the dividend is 22 per cent up at 11p.
This year Menvier should make pounds 10.2m pre-tax, which puts the shares - up 23p to 600p yesterday - on a multiple of 14.5 times. Buy.
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