Updates

Murgitroyd

December 2014

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.

Patent and trade mark attorney Murgitroyd’s full year results showed a 9% decline in profits to £4.13m and 10% drop in eps to 32.7p. However, strong cash flow reduced net debt from £1.9m to £0.4m.Having achieved remarkable growth in eps from 4.2p to 35.8p over the previous ten years this was clearly a setback although management cited headwinds from the strengthening of sterling and increased pricing pressures.This performance was all the more disappointing as its markets achieved some growth with European patent applications increasing 2.8% to 266,000 of which 64% came from outside Europe. Although management didn’t provide a full geographical break-down it did highlight the US divis ...

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Topps Tiles

Foxtons

Murgitroyd (March 2013)

Murgitroyd -Patent attorney has grown eps a remarkable 750% in a decade (November 2012)

Murgitroyd - Remarkable 14 - year growth record for patent attorney firm (August 2012)

Murgitroyd - Patent attorney firm with habit of beating forecasts (October 2006)

Murgitroyd - Patent attorney firm going great guns (October 2005)

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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