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Foseco - Confidence running high

September 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.

Foseco (FOSE; 136p) has the look of a quality business with strong cash generation, exposure to the frenetic building taking place in the developing world and a leading position in foundry and steelmill consumables. The group was established in Birmingham back in 1932 to manufacture additions for the local foundry market and early on, it expanded geographically into overseas markets. The company has changed hands a number of times since its formation. It originally floated in 1964 before being acquired by Burmah Castrol in a hostile acquisition in 1990. Burmah itself ended up being acquired by BP and in 2001, Foseco was sold in a VC-backed buyout led by the current chief executive, Jamie Pike. Its entry to the Full List in May, fo ...

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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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Foseco - Confidence running high

September 2005

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