Updates

Renesola - Poorer visibility for the next six months

January 2009

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 very volatile share price swings continue. As recently as 3 November, Renesola confirmed its own guidance that Q3 08 output was expected to be in the range of 100MW-103MW, up from an earlier guidance of 90-95MW.As it was, the results when these emerged on 18 November showed production of 102.1MW, up from 82.5MW in Q2 08. Together with the higher volumes, higher average selling prices also meant that revenues for Q3 emerged at US$215.8m, up 26% on Q2. Margins dipped slightly from 22.4% to 22.2% due to a modest write down on raw material inventories offset by improved processes, which reduced consumption of silicon per mega watt. As a result of increasing bad debt provisions, operating margins reduced from 17.8% to 17.1%. Pretax ...

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Domino's Pizza - Strong like-for-like growth

Cape

Renesola - Barnstorming progress and further upgrades (September 2008)

Renesola - Yanks buy aggressively following plans to raise output to one giga watt (June 2008)

Renesola - Gains 127p on the month (May 2008)

Renesola - FY09 forecast drops PE to 6 (April 2008)

Renesola (February 2008)

Renesola - Shares up 50% on the month (January 2008)

Rensola (October 2007)

Renesola - Forecasts downgraded (September 2007)

Renesola - Increases annual capacity target to 373MW (July 2007)

Renesola - Likely to pull another rabbit out of the hat (May 2007)

Renesola - US$120m bond placing (April 2007)

Renesola - Expands wafer cutting capability (March 2007)

Renesola - Brokers set £8-£9 year end targets (January 2007)

Renesola - Yet another profit upgrade (December 2006)

Renesola - Forecasts upgraded again (November 2006)

Renesola (October 2006)

Renesola - Explosive quarter-on-quarter growth (September 2006)

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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