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ITE - Beats broker forecasts

January 2003

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 have responded positively to a possible re-entry into theAll-Share index and newspaper rumours of a substantial acquisition, although ITE has yet to announce details of the strategic review initiated at the time of its interim results in June. Meanwhile,it has released a strong set of results for the year to 30 September,ahead of broker forecasts. Total group revenues were £52.4m. Profitbefore tax and one-off operating costs was £10.8m, 7% ahead offorecasts. Adjusted eps was 2.2p on a (less than expected) 25% taxcharge. Net cash at the period end was £17.7m. Net cash inflow from operations was £10.4m. The one off non-recurring cost of £2.9m(see June issue) related to provisions against  unrecove ...

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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.

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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