Updates

Northbridge

November 2014

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.

Lack of space meant we omitted an update on Northbridge last month following the bolt-on acquisition of Tasman Oil Tools (New Zealand) for £13m, part funded by a placing of 642,000 new shares at 545p to raise £3.5m.Tasman operates in the oil and gas tool rental market in New Zealand, a market and area that Northbridge knows well, having had a presence in Australia since the acquisition of a former associated company, Tasman Oil Tools (Australia) in 2010. In the year to end March, the business being acquired made a profit of £2.9m on sales of £7.4m so it looks like Northbridge is paying a fairly full price.NBI has also announced H1 results to 30 June with all three divisions performing strongly. Sales w ...

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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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