Updates

Charter - Cost cuts to save Â£30m

March 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 engineering services firm Charter have rallied after a strong update that noted underlying earnings for 2008 will be slightly ahead of previous expectations. Excellent cash generation and control of working capital meant it ended the year with net cash of over Â£50m, compared with Â£36.2m as at 30 June, while it also has committed credit facilities of Â£145m, maturing between 2011 and 2013.For the first three quarters of last year trading at its larger welding products business, ESAB, had been well ahead of 2007 but the final quarter was weaker reflecting a sharp drop in key end user industries, particularly automotive. However, Charter has responded robustly by reducing capacity through elimination of shifts and headcou ...

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Hargreaves - Substantial eps upgrade

Carluccio's

Charter - Net cash of Â£52m (April 2009)

Charter (January 2009)

Charter - Engineer with powerful tail winds driving growth (October 2008)

Charter - Next yearâ€™s eps upgraded to 91p (November 2007)

Charter - Benefiting from favourable market conditions (August 2007)

Charter - Steal consumption keeps driving growth (May 2007)

Charter - Engineering firm a major beneficiary of steel boom (November 2006)

Charter - Beneficiary of Chinese infrastructure growth (May 2006)

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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