Updates

NETeller - Forecasts raised 33% for next year

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.

Reflecting higher than expected growth in customer numbers, broker Numis has lifted its profit forecast for the current year by 16% and by 33% for 2006.At the Q1 update in June, NETeller’s average daily signup rate was 2,862 new consumers which has left it with 1.5m customers. Numis suggest that allowing for seasonality, average signup for the year will be 2,617 per day, which should leave NETeller with 2.2m customers by its December year end. Average new accounts opened next year might slow a bit to 2,500 which is forecast to leave the customer base at 3.1m by the end of 2006. The broker also expects that its DirectAccept product, where punters get instant cash in their NETeller account without a 3-4 day ...

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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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