Updates

AssetCo

July 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.

The 33% jump in continuing sales from Â£34.1m to Â£45.2m for the year to 31 March, might have suggested supersonic growth rate but much of this has to do with accounting standard IAS17 and its effect on Assetco's PFI contracts. Speaking to the company earlier this month they note that the standard means that when, for example, Assetco provides a piece of fire equipment to a fire authority it has to recognise it as a finance lease and discount future revenues to today's value. The effect of this has been to increase sales, with the profits being recognised over the life of the contract. Stripping that out, underlying sales for the year were up Â£3m-Â£4m driven by growth of its long-term contacts with the London and Lincoln fire serv ...

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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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