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Andor

November 2013

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:
  • AND
  • Price:
  • 387.5p
The shares spiked sharply higher, to the highest level since our recommendation, following a trading update and an acquisition. Nice to see profits upgraded twice during the month.   Andor has bought Spectral Applied Research for £6.8m cash plus a possible earn-out of £3m based on future performance. Spectral is a leader in optical systems for cell biology research and is a solid looking fit with Andor's existing operations, providing integrated laser engines and spinning disk confocal systems to the life and physical sciences sectors. Last year it made an operating profit of £0.2m on £3.4m sales. This may look expensive but the historical performance was depressed by hefty R&D spend from which it is only beginni ...

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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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