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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Tarsus - Forward bookings still strong

May 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.

  • Epic Code:
  • TRS
  • Price:
  • 100p
Our decision to revisit business events operator Tarsus with a buy recommendation at 61p two months ago looks well-timed with the shares rallying to a 12-month high of 100p. The catalyst was better than expected final results with pretax profit of £10.3m, on turnover of £42.5m. While down on FY07’s profit of £13m, last year did not include the two largest biennial events and adjusting for this like for like sales growth was a respectable 9%. Meanwhile earnings were 13.1p. Although net debt increased from £29m to £34m this largely reflected the fact that its borrowings are held in Euro and US$, which strengthened sharply against sterling. However, Tarsus now has in place a new multi-currency bank facility with headroom of £46m. ...

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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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