Updates

AssetCo

January 2010

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.

Reporting H1 results, Assetco has finally done the decent thing and thrown in the towel on its problematic vehicle assembly business. The group has treated this division, which recorded an H1 10 loss of Â£1.6m, well up on the Â£0.5m loss in H1 09, as a discontinued business and intends to close it before March.On a continuing basis, Assetco recorded a pretax profit of Â£5.4m and eps of 5.9p, down from Â£6.6m and 7.4p a year earlier. But the first half last year included a one-off Â£1.8m new vehicle programme cost and stripping that out, the performance shows a brighter picture emerging for the core managed service but a fall on the specialist equipment side. The managed services side, which runs the outsourced asset m ...

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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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