Updates

UMECO - 355p price target

September 2002

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 Umeco, the distributor of components to the aerospace and defence industries, have bucked the downward market trend thanks to a reassuring AGM statement and news of a new contract win. At theAGM on 1 August chairman, Brian McGowan, confirmed that tradingand cash flow for the current year, which began in April, are inline with expectations. Since then, Umeco's Los Angelesbased subsidiary, Richmond Aircraft Products has won a three yearcontract to supply Boeing's Wichita division with a range of processmaterials used in the bonding of aircraft components. This dealrepresents a useful dividend from Umeco's $37.5m purchase of Richmondin July 2000 and is the first piece of business fro ...

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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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