Avesco update

I see today's biggest riser, following a trading update, was Snoozebox (zzz) which supplies portable hotel accommodation to events and festivals. I notice the trading statement contained the following:-

"In addition to the events calendar, the Company is seeing demand from the wider corporate market. In the last six months Snoozebox has hosted a range of events on behalf of blue chip retailers, banking clients, car manufacturers, travel companies and event agencies."

This may just be company specific, and of course, the business is different to Avesco's. However, given the recent statistics regarding economic recovery, I wouldn't be surprised if the corporate market (certainly in the UK) is springing back into life with a vengeance which will greatly benefit Avesco.

It's easily forgotten that Avesco has thrived despite the turmoil over recent years. This is an excellent showing given the cyclical nature of the business.

The even year effect (Winter Olympics, World Cup, Commonwealth Games), higher corporate spending, a significantly reduced share capital and an increasing dividend policy could bode well for shareholders.

Richard Murray recently purchased another £108,370 worth of shares if that's any guide.

As ever no advice intended.