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Shaft Sinkers

May 2012

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.

The shares have soared after the company, which specialises in the sinking of very deep or wide vertical shafts, released 2011 figures. In the year to 31 December, turnover rose by 24% to Â£226.5m. Headline profit number comparisons were somewhat distorted by a Â£3.8m contract settlement in H1 10 and also a Â£3.1m float bonus paid to key staff in this half but adjusting for this, pretax profits went up 29% to Â£16.6 million. Adjusted eps was 23.4p versus 20.8p for FY10. Shaft Sinkers typically receives large upfront payments from clients but as it has worked its way through contracts, without winning new ones, in FY11 net cash fell from Â£11m to Â£6.1m. The order book is down from Â£488m to Â£207m year-on-year. Almost Â£100m ...

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Shaft Sinkers (August 2012)

Shaft Sinkers - Contracts with Impala worth Â£47.8m (April 2012)

Shaft Sinkers (March 2012)

Shaft Sinkers (January 2012)

Shaft Sinkers (December 2011)

Shaft Sinkers (September 2011)

Shaft Sinkers (June 2011)

Shaft Sinkers - Pre-sinking starts on large (as yet unannounced) contract (May 2011)

Shaft Sinkers - Starts to attract a City Fan club (March 2011)

Shaft Sinkers - Highly profitable new issue (January 2011)

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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