Updates

Computer Software Group - Buys second business in legal sector

July 2006

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.

Just two months after establishing its professional services with the acquisition of AIM, CSW has doubled its size with the acquisition of Laserform, another company serving the legal sector. The price being paid is £4.8m mostly in cash and adjusting for the £1.5m cash acquired with Laserform, the net consideration represents a multiple of 6.6x operating profits. Recurring revenues accounts for 70% of its £4.1m sales. Laserform is a leading provider of forms software to the legal sector and has two product areas: forms and practice management software. The client base includes 80 of the top 100 legal practices. There should be a number of revenue and cost synergies once the deal is integrated. ...

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Electric Word

Powerleague - Effective pre-marketing

Computer Software Group - 150p offer from management (April 2007)

Computer Software (December 2006)

Computer Software Group (October 2006)

Computer Software - Third legal acquisition (September 2006)

Computer Software Group (June 2006)

Computer Software - Eps enhancing buy (May 2006)

Computer Software Group - Forecasts upgraded (April 2006)

Computer Software Group - Strong repeat income stream (March 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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