Fletcher King - why the rise? any holders here?

According to the Times today "Commercial property set for another boom year"....


Intro:
"BRITAIN is on course for another bumper year for commercial property investment in 2006, after a record £50 billion of offices, shops, leisure outlets and industrial buildings changed hands in 2005."

FLK now has a £5.2m m/cap, with £1.9m of cash at the last finals and making £546k PBT to April'05. Interims in 2005 were out on 21st January, so less than 3 weeks to go.

Results last time included a one-off £105k profit. But trading in the last H2 was better than anticipated, and was good across all divisions. FLK made £300k PBT in H2. If repeated, with say a lower growth rate of 10%, FLK would make £660k PBT this year without exceptionals.

A PAT of £460k, plus cash of, say, £2.1m, would on a P/E of 12 support a m/cap of £7.6m, 46% higher than today's m/cap.

And all tax-free in the ISA too :o))