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CNG Travel - Prospective PE of 4.6

March 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:
  • CTV
  • Price:
  • 78p
Shares in CNG Travel (78p) have had a difficult start to life on AIM. Placed by Evolution Securities at 103p in May, the placing raised £22.1m but a number of pre-IPO investors turned up on day one to sell their shares, sending CNG to an immediate discount. Results last month also came in below expectations although that had more to do with accounting treatment of one large contract rather than poor trading. CNG’s main product is TLC (Travel Lodging Connector), a software system which enables corporate travel agencies, in Europe and North America, to make hotel reservations. Most offline travel agents currently use one of four reservation systems (Sabre, Galileo, Worldspan and Amadeus). These GDS (Global Distribution S ...

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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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