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Haike

November 2008

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:
  • Haike
  • Price:
  • 45p
The recent retracement in the crude oil price has recreated a positive backdrop for Haike's refining operation, although H1 results to 30 June obviously came too late for the company to feel any benefit.As it was, for the six months to 30 June, Haike reported group revenues up 85% to US$317m and a loss of US$3m, largely as a result of a loss of US$6.2m on the refining business. As the company points out to us, the refining operations became lossmaking once oil went over US$100-US$110 a barrel and much of the period under review had seen it stubbornly stuck over this causing the operation to fall into a loss. The oil price peaked at US$147 a barrel in early July by which time Haike had decided that throwing in the towel and mothbal ...

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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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