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Mincon - Characteristics of a successful company

December 2013

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:
  • MCON
  • Price:
  • 82p
Mincon (MCON; 82p) has all three features (excellent demand profile, 20% operating margins, well spread "repeat" customers) that characterise really successful businesses. The company supplies rockdrills. Conventional ones work by a percussion mechanism, operated by compressed air to break hard rock into dust, which is then blown clear by the air exhaust. It might look boring but it's so niche and Mincon continued its profit climb even during the recent mining downturn. Depleted ore-reserves mean that new mines process mainly low grade ore and as more ore is processed, more drill heads break. Between 2010-2012, helped by geographic expansion, Mincon grew sales from Eu33.8m to Eu63.1m and operating profit doubled from Eu6.22m to Eu13.22m. ...

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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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