Updates

NSB - Strong US software orders

October 2007

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.

Results for the first six months to 30 June were slightly ahead of the trading update in August with pretax profits up 49% to US$10.6m for eps of 2.45 cents (1.2p). Free cash flow in the period was strong at US$8m leaving net cash of US$34.6m. On a local currency basis, overall sales in the period were up 8% to US$46m, with North America representing the bulk of this (US$44.3m). US software licence fees were down slightly from US$7.4m to US$7.0m but this masked the fact that the comparable H106 had been boosted by the lumpy US$2.5m income from JC Penney and a greater number of contracts completing in the period. The actual order intake was strong with orders up 74% on H106 including new wins from leading companies such as Dillard ...

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Hargreaves Services - Gain to date: 99%

Haike Chemical Group - Earnings forecast of 30.2p for next year

NSB - Surges on bid approach, ten-bagger since original tip (January 2008)

NSB (August 2007)

NSB (February 2007)

NSB (August 2006)

NSB - Strong growth in software licences (April 2006)

NSB Retail - Trading update (February 2006)

NSB - Prospective PE of under 10 (October 2005)

NSB Retail - Winning new US contracts (August 2005)

NSB - Forecasts upgraded following Q1 statement (June 2005)

NSB Retail - Steady flow of orders in January and February (April 2005)

NSB - Profit 20% ahead of expectations (August 2004)

NSB - Focus firmly on the US (April 2002)

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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