Updates

Charter - Net cash of Â£52m

April 2009

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.

Shares in engineering group Charter enjoyed a useful rally after the company revealed a strong set of final results. For the year to 31 December turnover rose 30% to almost Â£1.9bn while pretax profit increased 17% to Â£212m. Eps rose 17% to 99p, while the balance sheet remained strong with net cash standing at Â£52m and Â£145m of committed bank facilities. Charter's leading business, ESAB, which manufactures welding consumables such as fluxes and electrodes, increased operating profit by 17% to Â£149m despite a sharp deterioration in the final quarter caused by a reduction in automotive sector activity. However, Charter has quickly reacted by reducing plant capacity by up to 20%, which along with a cost cutting program should sav ...

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Sports Direct - Strong sales over festive period

William Hill - 1:1 rights issue to reduce debt

Charter - Cost cuts to save Â£30m (March 2009)

Charter (January 2009)

Charter - Engineer with powerful tail winds driving growth (October 2008)

Charter - Next yearâ€™s eps upgraded to 91p (November 2007)

Charter - Benefiting from favourable market conditions (August 2007)

Charter - Steal consumption keeps driving growth (May 2007)

Charter - Engineering firm a major beneficiary of steel boom (November 2006)

Charter - Beneficiary of Chinese infrastructure growth (May 2006)

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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