Updates

NSB

August 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.

NSB has issued a pre-close statement ahead of interims on 12 September. These confirmed that due to a number of high margin new licence sales, operating profit for the half year to 30 June should be US$9m, 40% higher than H1 last year and well ahead of market expectations. The results will also include exceptional costs of US$2.2m relating to some redundancies to improve the revenue-per-head ratio. NSB also said that much of its costs arise in the Canadian dollar which has strengthened and if Canadian / US dollar exchange rates had remained constant, the result would be US$1.3m higher. Despite the occasional urges we see by chief executive Nicky Beckett to sell shares, on a PE of 10 based on Dresdner K ...

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Inspace

La Tasca - Trade disrupted by World Cup

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 - Strong growth in software licences (April 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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