A note on Granada Group Plc from Henderson Crosthwaite, quoted in the Daily Mail on Saturday and forecasting substantial losses at Granada Computer Services, with a suggestion that the dividend could be hit if pre-tax profits fall to UKP105m in the year to October 31 as it is forecasting, brough Granada out fighting: Henderson Crosthwaite Grou` is a small fringe stockbroking house in London which specialises in the shares of leisure group companies… because of the focus of the firm on leisure, it is perhaps not surprising that it has limited knowledge of computer services and that the comments in the brief were in many respects unrepresentative of the true industry position; contrary to the Henderson Crosthwaite review, the market for independent computer maintenance remains strong; the company says that the division has been successful in acchieving its objectives, and that this has necessitated significant short-term investment, which has restricted profits.
