17 JUNE 1972, Page 31

11 4 gamble

It products

51111 Or the stock market there are few mfass to subscribe to the view of "cadclox's Domesday men, that isiaciety is inherently unstable, and It3„s0PhY of growth based on ensumption will eventually lead IP Collapse. And if there are any 4 such fears, their voices are too aninber to change the basic tone thitiaTket activity. e4t; S off my chest I can deal with 'Mtnediate situation. Over the h, Weeks the gyrations of the "ve created the conditions when can be won or lost at a stroke. As t ingredients of success are the to° sPot a good situation and the iirko'y when to buy or sell. „sat we are entering another bull 8t probably the one that will olas Davenport's high exbeing achieved. On this note of "1Y advice for the next account liit ..calik• Products. la itlg on the results for the year llarY confirming the interim Teel Mr M. R. Holt, the chairman, ilder et that the group is bringing h, Control which will restore 7 ' At the interim stage Holt toeaonounced to the dismay of i^ttrtrs that a loss of £85,000 had id. ed and there would be no halft• 'end ; , • , or the same period in the ilk "ear Holt had made £144,000 ; ef £118,000. .13,,Profits have always been fairly 14'4 the interim figures left a big, (IL' impact. The shares were 2s.'n6P to a new ten-year low 01:Lhil:t.,.:rtnhiserny currently stand at about 1,i some extent indicates the g, 8 44 difficulty for the group, which Makers and distributors of 1t 4 ecessories and repair products, 10411° commissioning cost of the it thflePot at Bedford and the poor A:tit, e factory at Barry. However, iv/should now be running il th anagerial changes have been it)re road ahead looks clearer. lie the arch-speculator, it hazardous to predict what ; ia th a results will look like. But on 'Atie,st kat the figures will show that 400geading towards a recovery (it „ L0 tiortlia Pre-tax in 1969) then I feel se will be rewarded.