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Shaft Sinkers

September 2011

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.

Shaft Sinkers, which specialises in the sinking of particularly deep and wide vertical and decline shafts, had seen its shares fall sharper than sector counterpart Capital Drilling (see page 4), which supplies drilling rigs. Consequently, SHFTâ€™s interims when they were announced produced a sharp bounce back in the shares. Nevertheless, it is still somewhat frustrating to have seen the initial drop, particularly as in the May issue we had highlighted that the order book meant 70% of this yearâ€™s forecast was already in the bag.In the first six months to 30 June, turnover rose by 40% to Â£112.3, almost 25% higher than brokers had anticipated â€“ largely due to the commencement of work on the Styldrift contract with Anglo Platinum ...

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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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