Updates

Fayrewood - Results will beat forecasts (again)

August 2004

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.

In a pre-close trading update, Fayrewood announced that results for the six months ended June will be "substantially ahead" of last year's and will exceed market expectations. The shares initially reactedby hitting a new high of 143.5p, before drifting slightly after the news of some director share sales sunk in. Just ahead of thisstatement Fayrewood finally attracted some independent broker coverage, with KBC Peel Hunt publishing a nine page note and concluding with a target price of 163p. Its eps forecasts are just shy of Arbuthnot's at 12.8p, rising to 14.5p in 2005, although itconcedes that these veer to the conservative side. Interim results, due on 5 August, cou ...

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International Greetings - Net cash jumps to over Â£10m

Brandon Hire

Fayrewood - Time to take profits (April 2005)

Fayrewood - Shares hit new highs (February 2005)

Fayrewood - Computerlinks sales up 17% (December 2004)

Fayrewood - Another eranings upgrade pushes prospective PE down to 7.6 (September 2004)

Fayrewood - Arbuthnot finally upgrades forecasts (July 2004)

Fayrewood - Still outperforming the sector (June 2004)

Fayrewood - Niche distribution overtakes ComputerLinks (April 2004)

Fayrewood - IT distributor beats forecasts again (February 2004)

Fayrewood (December 2003)

Fayrewood - IT distributor eyes recovery (September 2003)

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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