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Penny Share Review 131

Monday 22 April 2002

The Weekend's Comments

Saturday's Daily Mail reported that MacLellan Group (MLG) have been in talks to buy a private facilities management business. Shares in the Company that keeps the Blue Water Shopping Centre in Kent pristine for customers edged up 1p to 92p on the news. The shares were unchanged from Friday's close of 92p at 11.54 today.

Mears Group (MER) continues to receive good coverage. The Daily Telegraph from Saturday, in its broker's tips column, reviewed a 'buy' note by Old Mutual Securities. The broker's confidence in recommending buying the shares at 97p was based on Mears' position as market leader in a growing sector and recent contract wins that are ensuring that forward momentum is being maintained. The Sunday Express was similarly upbeat, as the recent £130m contract with Richmond Housing Partnership has instilled investors with more confidence about future revenue streams, it noted. The shares have a defensive quality given Mears' exposure to the multi-billion pound local government and housing association market; their fleet and distribution service businesses have performed well and it has growth and margin improvement opportunities. On this basis "the shares are worth a look at 102p" the newspaper concludes. Nevertheless, the shares were down 1p to 101p at 11.54 from Friday's close of 102p.

The Sunday Telegraph commented on a slight recovery to 19p in the shares of Mediwatch (MDW) and recommends to 'buy'. The rise was explained by the signing of a £1.2m distribution deal with CR Bard, an American firm, for its portable bladder scanner. The Sunday Telegraph also commented on a deal with Abbott Laboratories, the US medical giant, which has been confirmed today (see the announcement link below for more details) and that new product launches which will extend the application of its scanning technology to other illnesses other than prostate-related diseases. "The shares remain high risk, but are worth a speculative punt," The Sunday Telegraph counsels. At 11.54 the shares were down 0.25p at 18.75p from Friday's close.

Shares in Millwall (MWH) tumbled 0.315p to 0.540p on the club's defeat at the hands of Birmingham City in the play-off semi-final, reports Saturday's Daily Mail. More than 27m shares were traded on the day. The shares at 11.53 were down 0.03p to 0.51p from Friday's close.

MV Sports (MVS.L) unveiled the acquisition of Water Waiter for £2.2m, which left the shares steady at 0.3p, The Independent reported. The newly acquired business is based in Kettering and made a profit of £300,000 last year on sales of just under £1m. At 11.54 the shares were trading down 0.01p at 0.3p from Friday's close.

This Mornings Announcements

The following companies, in which City Equities customers may have an interest, released announcements to the market this morning. These can be found by entering the relevant company name or ticker code in the search box on this site.

AuIron (AUY.L) - fire at SASE project.
Incepta (ITA.L) - prelim full year results.
MediWatch (MDW) - contract award.
Miller Fisher (MFG.L) - new contracts.
Osmetech (OMH) - FDA product approval.
Symphony Plastic Technologies (SYM) - prelim full year results.

Look Out For This Week

6 May -
7 May - Incepta (prelim full year results), Symphony Plastic Technologies (prelim full year results).
8 May - NMT Group (full year results), Screen plc (full year results).
9 May - UK interest rate decision
10 May -

Compiled by Andrew McLintock



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