Updates

Spice - Acquires Revenue Assurance

September 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 Spice Holdings spiked to a new high of 672p after excellent results but then pulled back sharply on news of its acquisition of AIM listed Revenue Assurance, 186p, for £103m. This deal is much larger than normal for Spice and the suspicion is that it is taking advantage of its highly rated paper to buy growth at inflated prices, with the exit PE for Revenue Assurance being 19.0. Nevertheless, Spice believes that Revenue Assurance, which helps utility firms to more efficiently recover monies owed by customers, will strengthen its position in the utility billing market, enhance its services in energy procurement and move into the higher added value consultancy market. Earlier, Spice announced another set of record r ...

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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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