Updates

Fayrewood - Arbuthnot finally upgrades forecasts

July 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 recent research note broker, Arbuthnot, has upgraded forecasts for Fayrewood citing a "more optimistic demand environment". For the current year its pretax profit forecast is hiked from Â£13.2m to Â£14.4m (eps: 13.2p), rising to Â£16.4m and 15.2p in 2005. This reflects the broker factoring in more optimistic sales and profit growth rates at Fayrewood's niche distribution subsidiaries in Spain (UMD), and the UK (Interface). Thisupgrade puts Fayrewood on a prospective PE of 9.4, falling to just 8.2in 2005. With the prospect that even these new forecasts could be beaten it's more a question of when rather than if the shares reach Arbuthnot's new price targ ...

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Synergy Healthcare - Acquisition triggers massive earnings upgrade

Business Post

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 - Results will beat forecasts (again) (August 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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