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Maxima - New chief executive’s ‘kitchen sink’ on results

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.

  • Epic Code:
  • 84p
Maxima has issued a trading update ahead of  full year results on 4 August. This said trading was steady with revenues and operating profit is expected to be in line with market expectations. Net debt at 31 May was £15.5m, down from £17.3m at the end of November.As is the tradition, the new chief executive, Graham Kingsmill, appears to be planning a bit of a ‘kitchen sink’ for the results, which will include provisions for certain exceptional costs, including re-organisation costs as well as other asset write downs, which will result in an overall statutory loss being reported.Maxima said its business remains robust as it derives more than half of its revenues from recurring managed service and support contracts ...

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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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