Updates

SMC

February 2007

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.

A very bad month for the shares. The market badly received a statement from SMC which said that as part of a decision to look to make larger acquisitions, it had initiated a report by an independent firm of auditors who had concluded that whilst its strategy of buying small architectural practices and integrating them was sound, the suggestion was that SMC should adopt a more conservative accounting treatment with respect to work in progress. It shouldn’t surprise too much as treatment of long-term contracts often poses a problem for many firms - with two subjective elements (a) the determination of what stage a project has reached and (b) the cost required to complete a project. SMC has reported that two of its units were ...

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Davenham

Inspace

SMC (June 2007)

SMC (May 2007)

SMC (January 2007)

SMC - Soon to be prospective PE of 9.3 (December 2006)

SMC - High gear in Scotland (October 2006)

SMC (September 2006)

SMC (August 2006)

SMC - Largest acquisition to date (June 2006)

SMC Group (May 2006)

SMC Group - Gain since September: 286% (April 2006)

SMC - Results in April shouldn't disappoint (March 2006)

SMC - Buys two small architectral practices (February 2006)

SMC - Very eps enhancing acquisition (November 2005)

SMC - Acquisitions believed imminent (October 2005)

SMC - Attractive ground floor opportunity (September 2005)

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

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