Heath (Samuel) & Sons

Pre-tax profits were down from £548,000 to £391,000 in the six months to September for the family-controlled bathroom products group, as competition from abroad hit hard. Turnover was down only slightly at £6.3m, with both home and export markets being flat in terms of sales. Chairman Sam Heath says that 'it would be pleasant to be able to report that since the end of the half year, business has perked up, but the truth is that it has become even more difficult.' New lines are being launched, but there is no reason to believe that business is going to pick up. Any investors holding the shares should seriously consider selling out, as they have had a good run over the past few years.

Sector: Construction & Materials

Companies: Samuel Heath & Sons

Market cap: £8.1m

PE Forecast: n/a

Share price: 310p

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