Updates

Acal - Eps forecasts upgraded by 5% following acquisition

February 2015

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.

Acal has acquired Foss AS, a Norwegian designer and manufacturer of customised fibre optic solutions, for an initial £10.1m, which represents a PE of 10.Foss has two low cost manufacturing facilities in Norway and Slovakia and supplies customised fibre optic cabling that enables high speed communication. Such cabling is used in industrial as well as telecommunication applications and the acquisition doubles Acal’s existing sales from fibre optics to 9% of (bigger) sales. It also helps push up average margins as Foss has 10% margins versus 3.4% achieved in “old” Acal in 2014. The acquisition contributes for three months in the current year to end March, with Finncap forecasting eps of 14.1p whilst next year s ...

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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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