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Burren Energy - Portfolio constituent sees gain of 159%

November 2004

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:
  • BUR
Burren has continued its stellar journey upwards, following a streamof positive newsflow and the shares have now gained 159% since our original write-up in March at 181p. Its results for the six months ended 30 June, saw turnover up 65% to £30.6m, in spite of its use of oil price hedging, which cost it £4m. Pretax profit increased 68% to £14.6m, while strong operating cashflow of £21.4m helped Burrenend the period with net cash of £15.3m, compared to net debt of £4m. The combination of a higher tax charge and an increase in the number of shares and warrants issued upon the flotation meant earnings fell from 13.3p to 7.6p. In line with its pre-close trading statement, Burren's average production gre ...

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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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