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Helical tipped to rally 65%

Helical was one of the biggest losers in the post-EU referendum rout. Happily trading above 400p ahead of the vote, uncertainty about the impact Brexit may have on demand for property here caused a slump to 228p.

A month later, and as he handed the reins to new CEO Gerald Kaye, Michael Slade told the AGM he remained "cautiously optimistic" and that Helical's London assets "will remain attractive to a variety of different types of occupier".

A subsequent share price recovery had been unconvincing, up until this week's half-year results that is. The portfolio valuation jumped by 4% on an underlying basis, with London values on completed assets up 5.5%. Net asset value (NAV) of 471p was better-than-expected.

"Helical's results for the half year to 30 September 2016 show growing net rental income, a net gain on sale and revaluation of our investment portfolio, growth in Shareholders' Funds and an increase in our European public real estate association (EPRA) NAV per share," explained Kaye.

"In London, where most of this reversionary potential exists, we have an exciting collection of assets under refurbishment and development in locations where we believe demand from occupiers will continue to be robust."

So confident are directors that the market has got it all wrong, they've just acquired shares worth around £290,000 in total.

Kaye and finance chief Tim Murphy spent almost £100,000 each on 34,825 shares at 287p, the wife of Matthew Bonning-Snook bought 17,350, Duncan Walker 9,051, and the wife of Michael O'Donnell 5,000.

Robert Duncan, an analyst at Numis Securities, thinks this could be a hugely lucrative decision. "We reiterate our 'buy' rating with the shares on an unjustified 44% discount to NAV," he says, tipping the shares up to 481p.

Homeserve heats up

Reaction to high-flying Homeserve's half-year results was unenthusiastic, let's say. Record expansion in the US and a 9% increase in adjusted profit before tax was great news, as was confirmation that it should make good on its promise for "good underlying growth" for the full-year.

But the home emergency and repair services firm trades on well over 20 times forward earnings, which the market reckons is high enough. But not senior independent director Mark Morris and fellow board member Chris Havemann.

Following the numbers, which also revealed strong cash generation and an 8% increase in the dividend, Morris paid almost £70,000 for 11,647 shares at 599p each. Havemann spent nearly £48,000 on 8,178 shares at 583p.

Joules about to shine?

Tom Joule made a fortune floating the branded country clothing firm in May at 160p, but after topping 200p a few months back, demand has waned. That we've heard very little from the company since a summer trading statement perhaps explains some of the decline.

However, chief executive Colin Porter, promoted to the top job last year to let Joule get on with the creative stuff, is buying again.

Porter made millions from his 4% stake in the £140 million business, but now he's just bought 140,680 shares at 177p, which, after a small bounce, are now worth over £260,000. Porter's 2.1 million-share stake is worth £4.2 million.

He was joined this time by finance director Marc Dench, who snapped up 20,000 shares at 175.8p.

According to broker finnCap, Joules should increase sales by 14% to £150 million in the year to May, driving pre-tax profit up from £7.5 million to over £9 million. That gives adjusted earnings per share (EPS) of 9p.

That generous valuation multiple of around 20 times is reward for profit growth deep into double digits. Analyst Roger Tejwani thinks the shares are worth 210p.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.