3 FTSE 100 Shares Hitting New Highs: John Wood Group PLC, JD Sports Fashion PLC and Paypoint plc

The FTSE 100 (FTSEINDICES: ^FTSE) has been slipping away from its record levels in recent weeks, but today it’s up 30 points to 6,605 by mid-afternoon, and is creeping slowly towards the 13-year record of 6,876 points set in May. How long it will take to get there is anybody’s guess, but with economic indicators growing stronger, it surely can’t be too far in the future, can it?

Anyway, whatever the FTSE indices are doing, here are three shares that are helping them by soaring to their own new heights:

John Wood Group

It can pay to be in a “picks and shovels” business, and that has brought benefits for John Wood Group (LSE: WG), which provides engineering support services for the oil and gas industry. Last week the firm announced it had retained its contract with Dana Petroleum for North Sea services, and a kick to the share price seems to have been delayed until today — the shares climbed 29p to reach a 52-week high of 924p, before settling back a little to 922p as I write.

The full-year should see a 40% rise in earnings per share (EPS) if the latest forecasts are to be believed, putting the shares on a P/E of just under 14. That could be good value if we’re in for a few more years of growing business.

JD Sports Fashion

Shares in JD Sports Fashion (LSE: JD) flew today, gaining 36.5p to set a new record of 972p, and that’s where they remain right now — the price has put on more than 40% over the past 12 months.

The last update we had from the company in June told us that trading was in line with expectations, with UK and Ireland like-for-like sales up 7%. The City is currently forecasting a 15% rise in EPS for the full year, which suggests a P/E of only 9.5 on the current share price with a dividend yield of 3% expected. Are we seeing an undervalued share being outed? We just might be.


Paypoint (LSE: PAY) shares have soared more than 60% over the past 12 months, gaining 10p today to reach a 52-week high of 1,140p — they’re back just a penny from that at the time of writing. It’s been a great run over the past few years, with the share price having quadrupled since a low point in July 2010 as earnings have been rising.

But the price we pay for that is an escalating P/E, with full year forecasts putting the shares on a multiple of 22 now. But it’s a business that could well have a good few years of steady growth ahead of it, and shareholders will surely be expecting more record share prices to come.

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> Alan does not own any shares mentioned in this article.