Updates

Cosalt - Sells last non-core business

December 2008

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 June update reported the sale of the non-core school uniform business in May and the write down of the holiday homes business ahead of its disposal, with total write downs amounting to Â£14.3m in H1. Since then trading conditions have worsened for holiday homes and Cosalt has announced its disposal for a nominal consideration, which will result in a further write off of Â£8m in H2. That though is the end of the pain and leaves Cosalt focused on its two core divisions, marine safety and offshore oil & gas, both of which are driven by legislative requirements. On continuing business, an initiation of coverage note from Teathers forecasts sales of Â£110m and a pretax profit of Â£7.75m (eps 21.6p) for the year. Next year's target is ...

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Renew - Cash of £28m

Kewill

Cosalt (June 2009)

Cosalt (March 2009)

Cosalt - Strong Q3 performance (October 2008)

Cosalt (July 2008)

Cosalt - Sells non core schoolwear arm (June 2008)

Cosalt - Landsbanki sets 450p target (April 2008)

Cosalt - Expanding exposure to North Sea safety markets (March 2008)

Cosalt (February 2008)

Cosalt - Significant eps enhancing acquisition (October 2007)

Cosalt - Now a presence in top 5 European ports (August 2007)

Cosalt - Plans to grow marine safety side (March 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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