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Metal Bulletin

April 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.

Results for the year to 31 December showed continuing recovery post the Iraq conflict and SARS across all three of its main divisions. This resulted in a 4% rise in H2 sales following the 8% decline in H1.  Overall, sales were down from £44.6m to £43.9m as a result of the weakening dollar.   Profit before tax was up from £2.8m to  £4.6m despite an increase in marketing. Adjusted earnings rose from 8.7p to 9.5p. The group's operating cash flow remains a key strength at 135% of pretax profit, which helped to slash net debt from £9.6m to £6.4m.                    The largest div ...

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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