Primary Recommendation

Melorio - Zenos sees better than expected enrolment in poor jobs market

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.

Melorio, a provider of government funded apprenticeships, was one of our NAPs for 2009 when we put them forward as an exception to the rule, being a UK focused growth stock. Despite a rise in the share price from 65p in January to 142p now, the prospective PE stands at 7 and we think the shares have further to go.The company has made two significant acquisitions since being formed as a cash shell and obtaining a listing on AIM in 2007. The first was Construction Learning World (CLW), the UK's largest provider of on-site NVQ training to the construction sector. This includes practical examinations for the construction trade such as brick laying, plastering, concreting, steelfixing and drainage. It might have been expected that the ...

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Asian Citrus - Intends to list in Hong Kong : PE of 10.4 versus peer group of 19.4x

Prezzo - Resumes restaurant opening programme

Melorio (June 2010)

Melorio (December 2009)

Melorio (June 2009)

Melorio - 'Trading ahead of expectation' (April 2009)

Melorio - Continued strong demand (March 2009)

Melorio - Moves into ICT sector with acquisition of Zenos (January 2009)

Melorio (December 2008)

Melorio (October 2008)

Melorio - Forecasts lifted again (April 2008)

Melorio (February 2008)

Melorio - Construction training remaining buoyant (January 2008)

Melorio - Consolidator in vocational training (November 2007)

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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