Updates

Computer Software Group

June 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.

CSW has reported results for the year to 28 February ahead of expectations. Sales were up 79% to £25.2m helped by two acquisitions (the underlying organic sales growth was 6%). Pretax profit grew to £5.3m with eps of 7.8p, on a 15% tax charge due to past tax losses. Gross margin was up from 80% to 85% due to a higher proportion of owned software. Since the year end, CSW has acquired two more businesses (Care and Aim for £2.85m and £4.8m, respectively), so annualised sales are probably closer to £39m. All acquisitions have been completed predominantly in cash and debt, a pattern likely to continue, with borrowings at the year end of £0.2m but probably nearer to £8m now. But the company rema ...

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Interactive World - Hugely profitable adult text messaging/chat business

Scott Wilson - Forecasts upgraded

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 - Buys second business in legal sector (July 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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X