Updates

China Shoto

October 2009

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 quite sharply after China Shoto reported its interims. Although the numbers themselves were excellent with sales, pretax profit and earnings each up by more than 40% to Â£96m, Â£5.56m and 23.4p respectively, it was the cancellation of the dividend and sketchy details about investing in a battery recycling plant that spooked the market.The period was one where Shotoâ€™s factories switched capacity to producing reserve power batteries for the telecom sector with the obvious result that sales of these increased by 52% to Â£90m whilst sales from electric bicycle batteries reduced by 31% to Â£6m. Due to a lower average lead price and the fact that telecoms batteries are higher margin, gross margin overall ...

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Yell - Outlines plans to raise Â£500m

James Fisher

China Shoto (March 2009)

China Shoto - Trading ahead of expectations (January 2009)

China Shoto - Prospective PE of 3.5 (October 2008)

China Shoto (July 2008)

China Shoto - Switches production from bicycle batteries to backup batteries for the telcos (May 2008)

China Shoto (July 2007)

China Shoto (May 2007)

China Shoto (April 2007)

China Shoto - Host of opportunities cropping up (November 2006)

China Shoto (July 2006)

China Shoto - Chinese battery factory opens in July (May 2006)

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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