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Advanced Computer Software - Solid results drive ASW higher

December 2011

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.

Shares in ASW moved ahead following interims to 31 August. Reported debt was Â£25.3m but has fallen to just Â£10m now following the sale of the non core HR business in September. Stripping the impact of that business out, on a continuing basis, ASW showed 7% sales growth to Â£47.3m (5% growth) and a pretax profit of Â£9.5m for eps of 1.9p.All parts of the business continue to fare well. The health & care side, which largely comprises the patient workflow management for out of hours services (Adastra) and mobile solutions (iNurse/iConnect) saw sales up 14% to Â£10.9m (5% organic) with operating profit up 13% to Â£3.4m. ASW said new opportunities continue to emerge for Adastra helped by the launch of NHS ...

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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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