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MDM Engineering

September 2008

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.

  • Epic Code:
  • MDM
  • Price:
  • 157p
MDM has issued its maiden results for the 16 months to 31 March with no real surprises. Turnover came in at US$13.6m. Pretax profit was US$4.1m and earnings per share were 13 cents, with a maiden dividend of 4 cents. Net cash at the period end was US$5.2m although since then MDM has raised US$10m before expenses from the AIM float.MDM provides a range of consulting, engineering and technical support services to the mining industry, predominantly in South Africa. Specialist EPC (engineering, procurement and construction) is the fastest growing area and provides the bulk of the revenues. The past 16 months were busy for MDM with the business pulled out of administration and floated on AIM. It also saw MDM completing a number ...

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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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