Updates

Glisten

April 2009

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.

Investorsâ€™ perception of debt has changed so dramatically in the past 18 months and one of the most obvious examples comes in the form of Glisten, the supplier of impulse, snack and confectionery foods. The company has always operated with a high level of debt but with strong cash flows has always managed to pay down a chunk of borrowings at the end of each year. The problem more recently has been that a fall in its share price has been compounded by a sharp downturn in trading in parts of its business. Net debt stands at Â£27m against a market cap of barely Â£9m and the obvious investor concern is that any downturn in trading may mean a hugely dilutive equity fundraising. There has clearly been tougher trading in H1 to 31 Decem ...

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Maxima

Caretech

Glisten (July 2009)

Glisten (February 2009)

Glisten (October 2008)

Glisten (April 2008)

Glisten - Increasing brand ownership (October 2007)

Glisten - Moves squarely into organic food (April 2006)

Glisten - Moves into fast growth cereal bars sector (February 2005)

Glisten- Take profits (April 2003)

Glisten - Acquisitions will be trigger (November 2002)

Glisten - Reduces placing price (July 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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