Updates

Metal Bulletin

April 2006

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.

In the light of results ahead of expectations, brokers have upgraded their forecasts. Having thrown in the towel on the unsuccessful move into equity research and sold Avalon back to its management, revenues from continuing operations were up 19% to £54.7m. Pretax profit on continuing operations was up 28% to £12.4m (after losses of £1.2m on discontinued operations) and eps was up 35% to 17p. Cash generation was strong with net debt of £17m (adjusting for final £10.5m BCA earnout) expected to fall below £10m by the year end. Both Financial and Metals delivered double digit organic growth. The largest division (now 47% of sales) was Financial, which publishes macro-economic research and ...

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Financial Objects

Metal Bulletin (September 2006)

Metal Bulletin (January 2006)

Metal Bulletin (June 2005)

Metal Bulletin - Double digit organic revenue growth (April 2005)

Metal Bulletin - Trading ahead of forecasts (February 2005)

Metal Bulletin - Metals titles' sharp recovery (September 2004)

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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