Updates

Haike

August 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.

Our renewed confidence in the shares last month seems well placed with Haike announcing that relative oil price stability and the Chinese government's more flexible pricing policy on petroleum products has meant that its refining business saw improved margins and returned to profitability in H1. Volumes in the speciality chemicals business have however been suffering from lower demand and it is running just a shade below breakeven but volumes should recover in H2. Hanson Westhouse forecasts a pretax profit of US$10.7m in the first half (eps 15.2p) but with a better performance in H2, expect Haike to report a pretax profit of US$22.5m for the year (eps 26.9p). Dare we say it, we think they a ...

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CBay

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Haike (July 2009)

Haike (May 2009)

Haike (December 2008)

Haike (September 2008)

Haike (August 2008)

Haike (July 2008)

Haike (May 2008)

Haike (January 2008)

Haike - NDRC raise local oil product prices (December 2007)

Haike Chemical Group - Earnings forecast of 30.2p for next year (October 2007)

Haike (August 2007)

Haike Chemical - Q1 results (June 2007)

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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