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Fayrewood - Computerlinks sales up 17%

December 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.

After going through a quiet phase, the shares have sprung back to life following an encouraging trading update. Fayrewood's 51% owned Computerlinks subsidiary saw 17% growth in sales in its third quarter ended 30 September, which offset a slight decline in margins, with its operating profit rising from Eu. 1.4m to Eu. 1.5m. The biggest growth drivers were e-security (sales up 26%) and professional services (+14.5%). Meanwhile, Fayrewood's niche distribution business, which is forecast to make 70% of this year's earnings, is trading in line with expectations. Much will depend on the seasonally important final quarter, which will be up against strong comparisons from last year, but Fayrewo ...

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Fayrewood - Time to take profits (April 2005)

Fayrewood - Shares hit new highs (February 2005)

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

Fayrewood - Results will beat forecasts (again) (August 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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Fayrewood - Computerlinks sales up 17%

December 2004

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