Welcome to EQUITY DEVELOPMENT

The UK's longest established regulated provider of sponsored equity research.

We launched EQUITY DEVELOPMENT in 1997 becoming the first ever  regulated provider of Sponsored Equity Research in the UK.

Our research teams are made up of expert analysts with deep understanding & experience in their sectors.  Our research is distributed to all relevant investment classes & commentators. (at no cost to the reader).

We have made our name by specialising in those companies who are not receiving the attention that they merit, using detailed commentary, appropriate valuation metrics and regular publications to help eradicate undervaluation in the medium term.

 

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Homebuy Group

Homebuy Group is a hire purchase / retail hybrid which supplies consumer
goods on finance terms to non-conforming borrowers. It has demonstrated the ability to grow rapidly both organically and by acquisition, and is now entering into a second phase of major expansion by creating a network of retail outlets, partly funded by the sale of approximately 10.25m new shares, to raise £22.96m before expenses.

Homebuy - Fast growth, high quality and value

Interim results show no significant surprises: Homebuy’s business is growing rapidly, with increased numbers of sales staff producing sharp gains in turnover. We are not changing our forecasts, which indicate growth in pre tax profit of 236% in the current full year, followed by 104% and 80% in 2005 and 2006, respectively. In our view the shares represent excellent value.

Publication Date:
November 24 2004

Homebuy; Spectacular Growth

Homebuy Holdings is well placed to produce dramatic earnings growth over the coming years. Our estimates point to net income of £1.8 million, £3.7 million and £6.9 million in 2005, 2006 and 2007, respectively (see below). On the basis of these forecasts, we estimate that the value of the group, using 2006 earnings as the yardstick, is approximately £30m.

 

Publication Date:
July 12 2004

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