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Metal-Tech - Forecasts upgraded substantially

June 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.

  • Epic Code:
  • MTT
  • Price:
  • 177p
Shares in Metal-Tech announced better than expected results, which led to a welcome round of increases to brokers’ forecasts. For the year ended 31 December, turnover increased by 113% to US$126m, leading to a 283% increase in pretax profit to US$26.9m. Earnings rose 55% to 45 cents (24.6p), thrashing forecasts of 21p. Cash balances increased from US$2.6m to US$14.4m. Metal-Tech’s business involves the use of proprietary technology to transform scrap and industrial waste into high value minerals and metals and to date it has focused mainly on producing molybdenum and tungsten. Its results were fantastic for two main reasons: record prices thanks to high demand from China, plus higher than expected production output at ...

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Related Articles

Metal-Tech - Contractual dispute triggers profit warning (September 2006)
Metal-Tech - Poised to sign new joint venture (December 2005)
Metal-Tech - Rising molybdenum prices drive growth in metals recycler (November 2005)
Metal-Tech - Metals recycler benefiting from high molybdenum prices (October 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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