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NSB - FY pre-items operating profit at £2.5m

February 2004

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.

The shares, already strong anyway, rocketed by 32% on the news that results for the year to 31 December will be ahead of market expectations.  Operating profit before interest, goodwill, and exceptional gains arising from business disposals are likely to be at least £2.5m. These results have been delivered against the background of the US dollar weakening significantly against the pound and Canadian dollar during the year. Had exchange rates remained constant with 2002, NSB said that operating profit would have been over £2m higher. Cash balance at the end of 2003 was also ahead of expectations at £13m (before cash received from the BT transaction last month).NSB said the year finished strongly on bot ...

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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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