Prism: an eye for a bargain
Article Abstract:
Prism Leisure is a wholesaler of videos, music and computer games which performed better than forecast in the half-year to Sep 1996. Profit forecasts have been upgraded for 1996 to 1997 and 1997 to 1998. The company is abandoning Kidz Biz and Paul Lamond which have not performed well, and has entered the video market where margins have been good. The company has suffered a bad debt at a subsidiary in Germany but exports performed well in the half-year to Sep 1996. The company's profit is forecast at 2.6 million pounds sterling for 1996 to 1997 and 3.15 million for the following year.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Accounting for moving targets
Article Abstract:
Investing in growth companies is not easy because they resemble moving targets since they are growing and changing. Photobition is an example of a company that is changing rapidly and it has achieved compound earnings growth of 40% since its 1995 market listing. The company's return on capital is not easy to calculate since the amount of capital that it uses is unclear. New accounting standards relating to goodwill are being introduced in the United KIngdom and they are free to choose how to present old goodwill.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
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Prism Leisure: spot the bargain
Article Abstract:
Prism Leisure is a UK distributor of computer games which has acquired surplus budget games and sees continuing demand for such games, especially in mainland Europe. The company had a disappointing performance in 1994, and this was exacerbated by poor results from Paul Lamond, a board games company which prism acquired in 1993. Prism benefits from a strong cash flow, and the company's profit is forecast at 2 million pounds sterling for the 1995 to 1996 FY.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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