Companies: JQV   

Tipped here in June 2005 at 13.75p, womenswear retailer Jacques Vert has performed well in a difficult retail sector. Now the shares look good value again at the current 21.75p. The management under chief executive Paul Allen has achieved a huge clean-up of the business, winding up the old William Baird pension scheme, selling off the loss-making wholesale business and tidying up the balance sheet – which now boasts net assets of £20.6 million. That compares well by the side of a £42 million market capitalisation, especially since the retail business is achieving impressive like-for-like sales growth.

Figures for the half-year to end-October show sales up 8.9 per cent at £57.7 million and a profit before tax of £12.1 million (against just £1.2 million before). But that is after a net exceptional credit of £10 million relating to the wind-up of the pension scheme. Sales in the first ten weeks of the second half are up 8 per cent on a like-for-like basis. With net cash of £1.1 million, the company is well placed to expand again in its niche area. The shares remain a firm hold.

Jacques Vert	AIM	£7.93m	4.12p	-0.25p
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Other company articles:
Jacques Vert			08/05/2008
Jacques Vert clean-up complete			12/01/2007
Jacques Vert directors buy more			25/08/2006
Jacques Vert up on Baird pension deal			07/07/2006
Jacques Vert to defy the bears			09/06/2006