Updates

AssetCo - 20-year fire and rescue contracts

May 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.

Shares in AssetCo (ASTO; 198p), which provides outsourced asset management for two UK fire and rescue authorities, have raced away since the business was reversed into the much smaller Asfare, a supplier of ladders and other fire equipment, last month. AssetCo was originally established as a division of British Gas to independently manage its fleet and fleet related equipment. It subsequently began to manage fleets on behalf of Northern Ireland Electricity and Scottish Water. But since new management arrived in 2003, the strategy for growth has centred on offering a similar service to the fire and rescue authorities and Asfare has been unwinding its lower margin work. The strategy seems to be working. Over the past three ...

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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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