Updates

Cosalt - Strong Q3 performance

October 2008

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.

Cosalt has announced that Q3 performance was strong with sales in its core safety and protection business up 51% over the comparative period whilst margins have also doubled. As we said in April GTC, bought in October last year, continues to go gangbusters and its contribution represents the majority of this growth. The division continues to benefit from a Pan North Sea geographic base. A significant contract extension with BP in its original central North Sea location has just been won and Cosalt has also organically extended its operations into the shallow southern North Sea following a contract win there. Meanwhile, the acquisition of Myhre-Maritime in July has thrown up the first cross-selling win with Exxon Mobil extending it ...

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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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