Updates

WSP - Adverse outlook; time to sell

August 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.

In its pre-close trading update covering the six months to 30 June engineering consultant WSP has announced that trading is in line with expectations. All operating divisions are generating organic revenue growth while its acquisitions completed in the second half of last year have been integrated and are trading well. In spite of WSP's sanguine outlook the share price weakness tells another story. While it has done well to diversify into Asia and other thriving territories the credit crunched UK and USA markets remain a large part of its business. The big fear is that the cranes will soon disappear from the UK skyline, whilst deteriorating Government finances will also see a shelving of new public sector work, hithert ...

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Connaught - Â£800m of new orders

Lavendon

WSP - On the cusp of new upward leg (May 2008)

WSP - Prospective PE just 10.4 (February 2008)

WSP (January 2008)

WSP (November 2007)

WSP - Environmental consultancy side going great guns (October 2007)

WSP (August 2007)

WSP - Market conditions remain strong (June 2007)

WSP (April 2007)

WSP - Order book strengthening (February 2007)

WSP - New joint venture in India (January 2007)

WSP - Acquisitive engineering consultancy with strong growth record (December 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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