Updates

Retail Decisions

October 2005

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 fallen after H1 results to 30 June amid some disappointment that the fraud prevention side had not grown as quickly as some expected. Overall, pretax profit increased by 17% to £3.5m, although most of this was attributable to the fuel card division in Australia, with eps of 0.8p. Operating margin increased to 25% from 22%.The fuel card division grew sales by 9% to £7.3m and adjusted operating profit increased from £3.16m to £3.76m. As we have said before, this is a fantastic business, since card issuing is one of the most lucrative parts of the payment value chain. This is demonstrated by the mouthwatering margins and the strong cash flow. Around 35% of divisional sales comprises merc ...

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XL Tech Group

Wilmington

Retail Decisions - Gain: 58% following bid (November 2006)

Retail Decisions (August 2006)

Retail Decisions (June 2006)

Retail Decisions - Plans to drive value from acquisitions (February 2006)

Retail Decisions - Acquires leading Australian gift card operator (January 2006)

Retail Decisions - First note since Fuelserv acquisition (December 2005)

Retail Decisions - Buys UK fuel card business from DHL (November 2005)

Retail Decisions (July 2005)

Retail Decisions - Benefits from high oil prices (March 2005)

Retail Decisions - CNP transactions continue rising (February 2005)

Retail Decision (January 2005)

Retail Decisions - Volumes of CNP transactions rise (December 2004)

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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