Investor's Champion Blog
Provides refreshingly forthright, independent comment on predominantly small cap companies and specialist investment funds. Informed opinion, based on first-hand research, but pulls no punches in exposing management weaknesses.

Western & Oriental - on the trail again

It’s good to see that Western & Oriental (‘WEST’), the luxury travel operator, remains active, with last week’s acquisition of Tropical Locations for £175,000 being the seventh acquisition it has made since floating on AIM.

Tropical Locations offers luxury tailor-made holidays with over 90% of featured hotels being classified as deluxe. The acquisition apparently increases the Western’s overall scale and reach to the key destinations of the Indian Ocean, South Africa and the Caribbean and a significant Far East product, where Tropical Locations specialise.

Although Tropical Locations will initially remain in its current West London office it’s positive to note that back office synergies will be available immediately and the business is expected to bring a profitable contribution to the Group in the current financial year.

Western which has just moved broker to Collins Stewart even got a mention in the Investor’s Chronicle last week. All this coverage should help the share price which is still trading c22% below the float price.

For me it remains an interesting little stock at these levels.


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