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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Secondary Recommendation

Umeco - Major extension to Rolls-Royce contract

July 2002

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.

  • Epic Code:
  • UMC
Shares in aerospace components distributor, Umeco, one of our five New Year NAPS, rose 32.5p on the day of their final results and now stand 33% above our recommended price.  We met the management again after their results.   In the face of collapsing demandfrom key customers like BA, because of 11 September, it was reassuring to see Umeco's pretax profit, before a  £1.1m  exceptional item, only slip  9% to £10.1m, for  earnings of 28.8p.  Turnover rose 16% to £191m, reflecting a first time 10 month contribution from US based Abscoa. This resilient performance was accompanied by news of a major extension to an existing contract with Rolls-Royce, Umeco's biggest customer.  Analysts have upgr ...

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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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