Shares digital

Dolphin Capital Investors (DCI:AIM) – Finals PTP: €710.9m (€126m) Divi: n/a (n/a)

The former Play of the Week (2 August ‘07) has expanded its portfolio considerably over the past year, completing acquisitions in Greece and first investments in Croatia and Turkey, as well as making its first investment outside its core region through the purchase of a resort in the Dominican Republic.

Dolphin’s land portfolio has now risen from 16 million m sq in December 2006 to 48 million m sq in December 2007. Its NAV per share has also risen to 205p from 101p a year earlier. Last April, Dolphin acquired an 85% stake in Aristo, the largest holiday home development company in Cyprus, and in June, the group successfully completed a third fundraising of €450 million to further support investment opportunities. House broker Panmure Gordon has set a target price of 200p, well above the current 138p.

Shares says: Its shares did not suffer as much as some in the sector last year and the outlook holds promise.

by: Rachel Robson