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Secondary Recommendation

FireOne Group - NETeller rival eyes float

June 2005

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:
  • FPA
NETeller lookalike, FireOne, which provides payment processing services for the online gaming industry, has announced its intention tofloat on AIM, with Numis acting as its broker. At first glance, the float smacks of opportunism by FireOne's owner, US-based Optimal Group Inc, which is clearly carpet-bagging off NETeller's success by selling a minority stake in FireOne, having only bought it a year ago as part of a larger acquisition. Nevertheless, FireOne's financial record does bear striking similarities with an early stage NETeller. After making apretax profit of US$8.6m from turnover of US$34m in the year ended 31 March 2004, FireOne's latest three months, ending 31 March, show it hasalready made a pretax profit of US$6m from tur ...

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Related Articles

FireOne - Payments processor good value again (March 2006)
FireOne - Shares have doubled since AIM debut (September 2005)
Fireone - NETeller rival enjoys warm reception (July 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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