Updates

NSB - Strong growth in software licences

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 2005 results, forecasts for NSB have been inched up again and with the company announcing that it expects to return to the dividend list again next year, the recovery from intensive care two years ago is now complete. Overall, results were excellent and were ahead of the trading update in February with sales up 11% to £48.4m and pretax profit (even despite adverse currency movements of £1.3m) was up 57% to £10m, helped by a high proportion of high margin, new licence sales and BT royalty income. Earnings per share lifted from 1.9p to 2.4p on a virtually nil tax charge (£70m tax allowances remain so there should be little tax to pay for the next few years). Net cash at the year end was &poun ...

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SMC Group - Gain since September: 286%

Black Sea Properties - Numis sets 35p share price target

NSB - Surges on bid approach, ten-bagger since original tip (January 2008)

NSB - Strong US software orders (October 2007)

NSB (August 2007)

NSB (February 2007)

NSB (August 2006)

NSB Retail - Trading update (February 2006)

NSB - Prospective PE of under 10 (October 2005)

NSB Retail - Winning new US contracts (August 2005)

NSB - Forecasts upgraded following Q1 statement (June 2005)

NSB Retail - Steady flow of orders in January and February (April 2005)

NSB - Profit 20% ahead of expectations (August 2004)

NSB - Focus firmly on the US (April 2002)

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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