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NCC - Share strength is cue for taking profits

March 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.

Escrow solutions firm NCC reported underlying growth in operating profit of 10% to £3m on turnover up 15% at £9.8m. The core escrow division saw a 22% increase in profit, before taking account of investment in the German start-up, with growth coming from an 8% price increase as well as high (89%) levels of renewals by customers. There are now 12,800 beneficiaries to the escrow agreements, while the average number of agreements per beneficiary increased from 1.8 to 1.9. But the recent strength in the share price is more likely because of investor optimism over NCC’s early attempts at overseas expansion. It now believes that its fledgling German subsidiary (investment of £0.5m) will make a profit in the next financi ...

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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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NCC - Share strength is cue for taking profits

March 2006

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