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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Kentz - New 190p price target

May 2008

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:
  • KENZ
  • Price:
  • 157p
Our decision last month to add oil & gas focused engineering contractor Kentz to our TMI Trader Portfolio ahead of its maiden results looks well timed with a subsequent new high of 162.5p. For the year to 31 December revenue increased 47% to US$544.56m, with 70% coming from the buoyant Middle East region. Pretax profit rose 37% to US$34.3m, with pretax margins jumping from 4.8% to 6.3%. Meanwhile there were two pleasant surprises in the shape of a US$86m increase in its order backlog to US$682m (£345m), while net cash of US$123.7m (£62.5m) was significantly higher than broker Evolution's forecast and it now estimates that Kentz has US$45m available for potential acquisitions. Citing the strong operational performance, higher ...

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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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