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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Xchanging

October 2010

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:
  • XCH
  • Price:
  • 129p
There's an unofficial rule in the Stock Market and indeed in life that in response to criticism it's usually best to keep quiet rather than protest too much. However, Xchanging's response to its falling share price and rumours concerning its accounting treatments was to hold a briefing with analysts and the shares initially fell even further to a low of 110p, before rallying to 129p. The one useful point gleaned was a supplemental page to its interim results presentation, which noted that while pretax profit was £18.3m and underlying operating profit was £20.7m, the cash profit from operations (EBITDA) was more than double at £40.8m. The difference was mainly explained by hefty non cash items such as depreciation (£6.3m) and a ...

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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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