Updates

May Gurney

January 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.

May Gurney has reported excellent maiden H1 results to 30 September with the top line growth of 12% to £200m being entirely organic. Pretax profit was £6.6m and eps was 7.7p. Net cash at the period end was £19.5m. Gurney is another of those infrastructure outsourcing businesses with a fly-away share price. But not all outsourcers are created the same; May Gurney’s business isn't just about supplying maintenance staff but instead its focus is on high end outsourcing whereby it takes on all the operational management of one or more non core support services including all customers’ departmental staff. During H1, the outsourcing side saw its sales grow 12% to £120m. The focus in this divi ...

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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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