Updates

International Greetings - Earnings forecast to double this year

February 2011

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.

A beefy research note from broker Arden regurgitated what we said when we made the shares a main buy a few months back. The broker notes that â€œfurther to the restructuring of the group, profits are achieving significant leverage on the rationalised cost base and debt is significantly reduced; consequently, we believe the shares are significantly de-risked.â€ The broker now anticipates that organic growth this year will be 7%, against earlier expectations of 5% and that gross margins will rise from 16.9% in 2010 to 20% by 2013, helped by a move to everyday and single cards and lower costs. This is the year when it all comes together for IGR with earnings for the year ending 31 March forecast to double to 7.3p. For next year ...

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Norseman Gold

Statpro

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International Greetings (December 2011)

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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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