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Financial Objects - Cash rises to £16.6m

July 2002

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.

  • Epic Code:
  • FIO
We reviewed the group's trading statement in May pointing out that its higher profile contracts were taking longer to go live; this, by extension would see a shortfall in recognition of licence fees in the current period.   Since then Financial Objects hasannounced that although it expects to report a loss for the first halfto 30 June, this will be mitigated by a net exceptional credit of£0.4m from the cancellation of future property lease obligations. Areturn to profit is expected in the second half. ABN-AMRO now forecasta normalised pretax profit of £1.0m on sales of £16m in the currentyear to 31 December, with a profit of £1.9m on revenues of £18mpencilled in for next year. Financial Objects has alsore ...

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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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