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Alterian

June 2007

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:
  • ALN
  • Price:
  • 161p
Alterian's results reflected the dramatic growth in its US operations. Overall, revenues were £14m, up 32% with an adjusted pretax profit up from £0.9m to £2.2m. Eps were 5.9p on a nil tax charge (Alterian still has unutilised losses of £18m). Net cash, following two acquisitions, was £8m. The number of partners selling Alterian software grew by 12 to 30 in the period, with end user customers standing at 200. Most of the growth was in North America where Alterian now has eight of the top 10 Marketing Service Providers (MSP) as customers. US revenues were £6.9m, up 83% on constant currency of which 50% was organic. When we spoke to chief executive David Eldridge following these results, ...

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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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