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Sondex

June 2005

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:
  • SDX
  • Price:
  • 200p
Sondex has reported results for the year ended 28 February lower than expected. Overall sales rose 81% to £31.7 million, up 81%. Excluding Geolink which contributed for eight months, Sondex' core wireline business showed growth of 22% (Geolink also grew 28% compared to its pre-acquisition performance). Wireline accounted for 67% of revenues with Geolink (which now represents the drilling division) comprising the remainder.  Net debt at year end was £21.9m (gearing 44%). Operating profit before goodwill was up 46% to £7.1m. Pretax profit was £4.2m versus £923,000. Earnings per share was 10.1p versus broker Oriel's forecast eps of 12.5p. There were two reasons for the lower margins. First, Sondex u ...

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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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