Updates

Hargreaves - Acquires bulk haulage firm

July 2006

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.

Hargreaves Services has paid £2m to acquire Gilbraith Tankers, a long established bulk liquid transport company, based in the North West, which owns a fleet of 48 tankers. Hargreaves’ chief executive, Gordon Banham, had intimated his intention to consolidate this sector if the opportunities came along, so it’s good to see his first deal as a public company. The shares have succumbed to the market malaise but look very cheap at these levels. Keep buying / average down. ...

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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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