Updates

Fayrewood - Another eranings upgrade pushes prospective PE down to 7.6

September 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.

True to form, IT distributor, Fayrewood, announced a superb set of interim results, which beat even the recently upgraded expectations. For the six months ended 30 June turnover rose 19% to Â£229m, pretax profit rose 42% to Â£7m and earnings increased a massive 70.7% to 7p. As a result Arbuthnot has again upgraded its forecasts for the current year from Â£14.4m (13.2p) to Â£16m (16.1p),with 2005 numbers being raised to Â£18.2m for earnings of 18.5p. Thestar of the show was undoubtedly its niche distribution side, where operating profit soared 65% to Â£4.8m, with enhanced performance acrossthe board and particularly from UMD in Spain and Interface Solutions in the UK. The latter continu ...

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PKL Holdings

Peter Hambro Mining - Operating costs sharply reduced

Fayrewood - Time to take profits (April 2005)

Fayrewood - Shares hit new highs (February 2005)

Fayrewood - Computerlinks sales up 17% (December 2004)

Fayrewood - Results will beat forecasts (again) (August 2004)

Fayrewood - Arbuthnot finally upgrades forecasts (July 2004)

Fayrewood - Still outperforming the sector (June 2004)

Fayrewood - Niche distribution overtakes ComputerLinks (April 2004)

Fayrewood - IT distributor beats forecasts again (February 2004)

Fayrewood (December 2003)

Fayrewood - IT distributor eyes recovery (September 2003)

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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