Updates

Cape

September 2012

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.

Cape has warned again, its third in recent times. We had half-expected a kitchen-sinking from incoming chief executive, Joe Oatley involving an accounting goodwill write-down but more worryingly the bug bear this time is Australia, previously considered the best part and where Cape had made substantial acquisitions in the past. The problems were a combination of project deferrals in LNG as well as not winning packages of work it had expected to. As a result full year profits for 2012 and 2013 will be materially lower than expected, with margins expected to be half that previously forecasted. In reaction broker Canaccord Genuity has downgraded 2012 pretax profit from Â£60m to Â£42.1m for new eps of 25.3p. Next year's has been slash ...

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Howden Joinery - Shares hit new high

Informa - Net debt falls again

Cape - Shares continue sharp rally (November 2012)

Cape - Iffy contract triggers Â£14m charge (July 2012)

Cape - Propsective PE: 8.2 (May 2012)

Cape - Shares bounce by 130p (March 2012)

Cape - Sell off ocer-done; forward PE now 6.6 (January 2012)

Cape - Industrial services firm eyes huge LNG opportunity (October 2011)

Cape - Shares soar over Â£5 (May 2011)

Cape - Gain to date: 314% (February 2011)

Cape (October 2010)

Cape - Big upgrades to eps forecasts (April 2010)

Cape (February 2010)

Cape (December 2009)

Cape - Gain approaching 150% (November 2009)

Cape (August 2009)

Cape - Collins Stewart raises price target (July 2009)

Cape - Strong demand profile means shares are dirt cheap on PE of 3.3 (May 2009)

Cape (November 2008)

Cape - Price target lifted to 386p (July 2008)

Cape - Shares re-rated after forecasts upgrade (May 2008)

Cape - Industrial services firm with huge (March 2008)

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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