Updates

SMC Group

May 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.

When a company is as highly acquisitive as SMC, results for any period will become meaningless as acquisitions contribute for only part of any given year. For example, SMC’s latest results for the year to 31 December included three acquisitions which helped boost turnover 62% to £13.5m and pretax profit before goodwill to £3.09m. Adjusted earnings per share almost doubled to 7.2p. Three more acquisitions have followed since the year end and although it is hard to discern the level of organic growth, this phasing means that growth is already built in for this year even if no other deals are done. Most of SMC’s acquisitions have been small regional practices, predominantly in the North of England, and most we ...

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SMC (June 2007)

SMC (May 2007)

SMC (February 2007)

SMC (January 2007)

SMC - Soon to be prospective PE of 9.3 (December 2006)

SMC - High gear in Scotland (October 2006)

SMC (September 2006)

SMC (August 2006)

SMC - Largest acquisition to date (June 2006)

SMC Group - Gain since September: 286% (April 2006)

SMC - Results in April shouldn't disappoint (March 2006)

SMC - Buys two small architectral practices (February 2006)

SMC - Very eps enhancing acquisition (November 2005)

SMC - Acquisitions believed imminent (October 2005)

SMC - Attractive ground floor opportunity (September 2005)

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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