Corporate Express

Analysts say office supplies group Corporate Express is unlikely to outperform in the short term due to a poorer earnings outlook in the wake of its fiscal 2007 result. Corporate Express shares sank to a year low of $5.61 last week after it posted a full-year net profit of $68 million that was just shy of most analysts' forecasts. ABN Amro has kept its "sell" call on the stock. It also lowered its earnings per share forecasts by between 8 per cent and 10 per cent over the next three years. UBS says while Corporate Express is a good long-term investment, the stock is not expected to outperform in the short term due to further declines in return on invested capital.