Updates

Computer Software

December 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.

CSW has reported a strong set of H1 results. Sales increased 77% to £19.4m, including £5.2m from acquisitions in the period. Underlying organic growth was stated to be 7%. Profit before tax grew 80% to £1.7m and eps were up 50% to 4.6p. That remains a pretty flawless execution of CSW’s business plan but it is still a bit of an oddity in the software sector. Under the stewardship of chief executive Vin Murria, CSW continues to act as a consolidator of legacy software providers, typically businesses which have been long-established with relatively old technology but hugely loyal customer bases. The key attraction in buying these businesses is for their maintenance income, almost a form of annuity income, bu ...

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Powerleague - Rollout of new sites continues

Renesola - Yet another profit upgrade

Computer Software Group - 150p offer from management (April 2007)

Computer Software Group (October 2006)

Computer Software - Third legal acquisition (September 2006)

Computer Software Group - Buys second business in legal sector (July 2006)

Computer Software Group (June 2006)

Computer Software - Eps enhancing buy (May 2006)

Computer Software Group - Forecasts upgraded (April 2006)

Computer Software Group - Strong repeat income stream (March 2006)

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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X