Updates

SMC

September 2006

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.

SMC has reported its first half results with sales doubling to £11.3m (9% organic) and pretax profit increasing by 42% to £1.6m. Earnings per share on a fully diluted basis were flat at 3.5p, although on a weighted basis for shares issued at the time of IPO, they are up 37%. Four acquisitions were made in the period to leave 16 offices and annualised sales of around £35m presently. There are still earnouts to come of around £13.3m (£6.8m cash and £5.5m shares) which at the current share price will dilute eps by c.10%. A third of the earnouts are payable this year. Clearly the share price is discounting some kind of fundraising and SMC has always had ambitions to build a presence in Scotland; giv ...

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Mears

Touchstone - Profit up 125%

SMC (June 2007)

SMC (May 2007)

SMC (February 2007)

SMC (January 2007)

SMC - Soon to be prospective PE of 9.3 (December 2006)

SMC - High gear in Scotland (October 2006)

SMC (August 2006)

SMC - Largest acquisition to date (June 2006)

SMC Group (May 2006)

SMC Group - Gain since September: 286% (April 2006)

SMC - Results in April shouldn't disappoint (March 2006)

SMC - Buys two small architectral practices (February 2006)

SMC - Very eps enhancing acquisition (November 2005)

SMC - Acquisitions believed imminent (October 2005)

SMC - Attractive ground floor opportunity (September 2005)

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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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