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Microgen

August 2003

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.

For the six months to 30 June, Microgen has reported a flat profit before goodwill and exceptionals of £1.1m. Adjusted eps was 1.3p. Overall, revenue was £11.1m, down from £12.3m reflecting reduced fee rates in OST.  Turnover has historically been presented in three legs; Telesmart, Kaisha and OST. But following the integration of OST with Kaisha last year, 2003 is the  first year when these two are combined into a new single profit centre, Microgen Solutions. Each of the two new divisions are of similar size in terms of sales.Telesmart’s sales were flat at £5.5m producing operating profit before central costs, goodwill and exceptionals of £1m, up from £0.9m in the first half last year. The flat sales disguise th ...

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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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