Updates

Charter - Next yearâ€™s eps upgraded to 91p

November 2007

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 firm Charter have performed very well since wemade them a main buy in May â€™06 at 763p and followed up with anotherbuy recommendation at 970p six months ago. The catalyst for the latestsurge was forecast busting interim results, which led to a round ofbroker upgrades. For the six months ended 30 June, operating profit grew 20.3% toÂ£85.4m, which was 10% ahead of expectations, albeit flattered by Â£4.5mof one-off gains. Turnover increased nearly 11% to Â£691m, while epsgrew 26% to nearly 42p. Net cash increased from Â£36m to Â£60m. Charterâ€™s largest division, ESAB, which makes welding products andadvanced cutting systems, saw a 26% increase in profit, with marginsincreasing from 12.2% to 13.7%. ...

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Charter (January 2009)

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

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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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