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Primary Recommendation

Redstone - Forecast profitability in current year

April 2004

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.

  • Epic Code:
  • RED
  • Price:
  • 9p
In the middle of 2001, investors took the view that alternative telecoms carriers like Redstone were at risk of not surviving. At its peak of over £14 the company had carried a market valuation of over £1 billion, for a business with sales of just £80m, but the shares subsequently plunged as the company  reported hefty losses and spiralling debts. This forced the company to undergo a rescue placing in June 2001 at the hugely discounted price (adjusted for a share consolidation) of just 10p.But Redstone already looks to be in full scale recovery mode. Over the last three years, since new chief executive, Ian Brown, took the reins Redstone has arguably done everything investors could hope for. The biggest head ...

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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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