Updates

Maxima

November 2009

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 rose sharply to 158p but then gave up the ghost after Maxima announced that a reseller agreement to distribute QAD ERP software was not to be renewed in January. Maxima is the only distributor of QAD in the UK but QAD has decided to revert distribution in house. Some of Maxima's supporting resource will be redirected to Maximaâ€™s SAP, Microsoft and Oracle activities.The loss of QAD will chop sales by Â£4m and operating profit by up to Â£1.3m in the year to 31 May but will have a bigger impact next year. Edison has reduced its pretax estimate to Â£4.8m (10.8p) for this year with Â£5.4m (13.2p) next.We think the loss of QAD is surmountable and Maxima will provide a detailed update at th ...

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Caretech

Scott Wilson

Maxima (January 2010)

Maxima (October 2009)

Maxima (April 2009)

Maxima (October 2008)

Maxima - Sitting duck to a predator on a PE of 6.6 (September 2008)

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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