Updates

Advanced Computer Software - 200% increase in iNurse/iConnect orders

July 2012

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.

Full year results to end February were in-line. Stripping out the impact of disposals, ASW showed 10% sales growth to £98.2m (8% organic) and a pretax profit up 13% to £21.2m with eps up 22% to 5p. Net debt at the period end was just £1m. The ebitda margin was slightly lower at 24.5% due to investment in mobile products.The health & care arm, which is patient workflow management for out of hours services (Adastra) and mobile solutions (iNurse/iConnect), saw sales up 8% to £22.7m. Operating profit was down 3% to £6.2m due to increased investment in headcount related to the development of mobile products. The latter is selling well and by the year end total orders covering more than 13,000 community ...

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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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