Updates

Low & Bonar

July 2008

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.

Lack of space meant the June issue omitted an update on Low & Bonar, which has reported that its technical textile business is trading slightly ahead of expectations with MTX experiencing record sales in April. Despite the rise in the price of oil in the first half, raw material costs are at an acceptable level with one key material falling in price for the last four months. The flooring business has continued to trade satisfactorily, benefiting from a first time contribution from Westbond, the fusion bonded carpet tile business, bought in January. The strength of the Euro will boost eps in H1. With Low & Bonar's broad spread of end markets and geographic diversity protecting it from a UK slowdown, the eps forecast of 13.1 ...

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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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