Updates

Melorio

June 2009

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.

Melorio, the vocational training provider, has risen by almost 150% since we made them a 2009 NAP in our January issue. Results this month for the year to 31 March exceeded expectations and in the light of these, broker Singer has lifted its forecast for the current year to a pretax profit of Â£11.8m for eps of 20.9p.That compares to the results just reported when Melorio delivered sales of Â£31.2m, more than doubled pretax profits to Â£8.8m and eps of 18.1p. The comparisons are not that meaningful as its main business, Construction Learning World, had only been included for six months last year and these results included just four months from Zenos, bought on 4 December and funded mostly by bank debt. Net debt stands at Â£14.4m a ...

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Education Development International - Another 16% profit upgrade

Melorio (June 2010)

Melorio (December 2009)

Melorio - Zenos sees better than expected enrolment in poor jobs market (October 2009)

Melorio - 'Trading ahead of expectation' (April 2009)

Melorio - Continued strong demand (March 2009)

Melorio - Moves into ICT sector with acquisition of Zenos (January 2009)

Melorio (December 2008)

Melorio (October 2008)

Melorio - Forecasts lifted again (April 2008)

Melorio (February 2008)

Melorio - Construction training remaining buoyant (January 2008)

Melorio - Consolidator in vocational training (November 2007)

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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