Updates

Low & Bonar

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.

Last month we omitted covering Low & Bonarâ€™s placing because all the brokers covering the company were involved in the placing and hence no forecasts were available. The placing and open offer of new shares on the basis of 6 new shares for every 7 held at 25p has raised Â£30m.Together with the placing Low & Bonar reported results for the year to 30 November. Including a Â£105m contribution from the MTX acquisition, these showed a 59% jump in sales to Â£335m and a 53% increase in pretax profit to Â£16m (eps 7.3p; +59%).However, the company has experienced a significant fall in demand, although Low & Bonar said costs have been cut and it is benefiting from lower raw material costs. The company says there w ...

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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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