Christmas Stock picks: Vp 22/12/2011
Benefits of past investment will benefit Vp, suggests Les Copeland
Colourful character Carl Turpin has finally steered house builder Oakdene Homes onto Aim with a £5 million placing. The South East home builder moved up from Ofex with a Seymour Pierce-steered placing priced at 110p.
Chief executive Turpin has an interesting business history – several joint-venture companies he was involved with in the 1990s were either put into receivership or voluntary liquidation. He insists this was due to a falling out with a long-term business partner. But that's all history. The extremely profitable Oakdene recently waltzed off with the OFEX Company of the Year award at the Growth Company Awards. And Oakdene has lifted profits every year since formation in 1998, and doubled pre-tax profits in each of the last three financial years. The year to December saw record sales of £12 million and a £3 million profit.
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