Workspace Group PLC (LON: WKP), Topps Tiles Plc (LON: TPT) and Bango plc (LON: BGO) are flying.
The FTSE 100 is picking up a little today, just breaking the 6,300 level to reach 6,302 at the time of writing, up 25 points on the day. There is little happening in world markets at the moment, especially in Asia after the Chinese New Year holiday, so this kind of general sideways movement is not really surprising.
But there are individual companies whose shares are climbing to new levels every day. We look at three that are reaching new records, two of which are soaring:
Workspace
Workspace Group (LSE: WKP) shares closed on a new 52-week high of 336.5p yesterday, and are trading at 336p as I write. That's nearly 60% up on last May's 52-week low of 213p, which marked the start of the current bull run.
Workspace is a real-estate investment trust, which provides business accommodation in London and the South of England, and in an update last week the firm told us of a 4.5% rise in its like-for-like rent roll for the past nine months, with like-for-like occupancy up to 89.6%.
The forward price-to-earnings (P/E) ratio looks perhaps a bit high at the moment, at 28, but there will be a lot of future London property pricing figured into the current price.
Topps Tiles
The Topps Tiles (LSE: TPT) price has been rising strongly, having risen 28% in February alone, to hit a 52-week high of 69p today. The firm, which manufacturers tiles and wood flooring, told us last month that it had enjoyed a 1.6% rise in like-for-like revenues for the 13 weeks to the end of December, and that things were in line with management expectations.
Forecasts currently put the shares on a forward P/E of an undemanding 12, with 6% earnings growth expected this year and double digit growth predicted for the following year. There is another trading update due on 27 March, covering the 26 weeks to 30 March, ahead of the company's close period.
Bango
Shares in Bango (LSE: BGO) are also flying, up more than 60% over the past year to reach a 12-month high of 245p today. Bango, which provides mobile web payment technology and mobile phone analytics, placed 3.25 million new shares at 200p apiece last week, to raise £6.5 million in order to expand its business capacity. The new shareholders have already done well.
Like a lot of up-and-coming technology shares, Bango at this stage has not recorded a profit, and we don't have any forecasts available right now. It really is one for growth investors.
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> Alan does not own any shares mentioned in this article.
