Updates

PZ Cussons - Net debt almost eliminated

July 2009

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.

Shares in PZ Cussons, which we made a New Year Nap for 2009 at 138p, have performed well in recent months. Its update for the year to 31 May was very positive and this noted that trading is in line with expectations, while cash flow is particularly strong thanks to improved working capital management. Indeed, broker Shore Capital thinks net borrowings of Â£32m registered a year ago may have now been virtually eliminated while net cash could swell to over Â£80m in three years time. The company, which owns the Imperial Leather, Cussons and Carex personal hygiene brands, noted that in the UK the focus on brand renovation has delivered good growth while in Nigeria, the local economy has been less impacted by the global recession and i ...

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Cape - Collins Stewart raises price target

Brixton - Segro makes all-share offer

PZ Cussons - Lock in profits and sell (March 2011)

PZ Cussons - Major new joint venture (February 2011)

PZ Cussons - Major acquisition (November 2010)

PZ Cussons - Net cash soars to Â£86m (September 2010)

PZ Cussons - Gain to date: 148% (August 2010)

PZ Cussons - Possibility of a special dividend (June 2010)

PZ Cussons (March 2010)

PZ Cussons - 2009 NAP has nearly doubled (January 2010)

PZ Cussons - Net cash increases to Â£23m (November 2009)

PZ Cussons - Massive swing to net cash of Â£23.2m (September 2009)

PZ Cussons (May 2009)

PZ Cussons - Imperial Leather owner set to increase profits to Â£100m in 2010 (April 2009)

PZ Cussons - Owner of Imperial Leather eyes further growth (January 2009)

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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