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Microgen - Trading ahead of expectations

May 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:
  • MCGN
  • Price:
  • 79p
Microgen moved to a new high after issuing a very positive trading update. This said that Q1 has seen "profitability materially ahead of expectations"  driven by continued high levels of consultancy utilisation and the ongoing migration of the payment customer base to BACS-IP. Following that, broker UBS issued a forecast of £6.4m pretax and eps of 5.2p for the year.The forecast has, however, been overtaken by  events after Microgen launched an agreed offer for Attentiv Systems, a supplier of retail banking and loans/debt management software. This values Attentiv at £53.1m or 81p a share (of which 50p is cash). Attentiv has sales of £32.1m and made an operating profit of £3.2m last year b ...

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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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