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Financial Objects

April 2003

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.

Another to have extensively restructured last year to save £2.5m annually and giving rise to an exceptional charge of £0.76m. Reflectingthis, for the year to 31 December loss before taxation, goodwill and exceptional was £0.96m. Sales fell 27% to £12.8m. The resultswere in line with forecasts, and reflect the difficulty in signing newcontracts together with fall off in maintenance revenues at IBIS.Despite these setbacks, net cash outflow was £0.35m, and cash at theyear end was £8m (or 29.1p a share). Also pleasing is that ActiveBank,the new generation retail banking system, signed five new licencesworth £2.2m. Meanwhile,  the open version of the IBIS/S2 wholesale banking system is complete, throwing up an opportu ...

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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