Updates

Financial Objects - Pipeline of seven Activebank deals in Europe

April 2002

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Having taken the pain of rationalising its cost base 18 months ago, Financial Objects has reported pleasing results for the year to 31 December. For the twelve months revenues fell from Â£18.4m to Â£17.5m (ofwhich c.Â£7m is in the form of ongoing maintenance revenue) but profit before tax, amortisation and exceptional charge was Â£2.85m. Earnings, on the same basis was 5.0p. The exceptional charge of Â£640,000 related to one customer ceasing trading and was less than the Â£850,000 previously signalled (see January issue). Net cash at the period end was Â£15.5m or 39.6p a share. When we recommended the sharesin November, we expected that sales from its Activebank retail bankingproduct would account for 50 per cent of total ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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