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Penny Share Review 135

Wednesday 05 June 2002

The Weekend's Comments

The Business from Sunday put the spotlight on Advanced Medical Solutions (AMS) and recommended it as a 'buy'. The purchase of US medical glue firm Medlogic is partly responsible for the upbeat sentiment, as chief executive Don Evans believes that adhesives could capture a healthy chunk of the world's $3.3bn wound-closure market. House broker William H. Baird has updated forecasts for the firm's medical superglue sales to more than double to £1.4m in 2002, then nearly double again to £2.5m in 2003. Break even is expected in 2003 with sales that year of £13.3m if the Company can further bear down on costs. The newspaper expects a rerating when Advanced Medical Solutions becomes more widely appreciated. At 11.14 the shares were up 0.25p to 9.875p from Friday's close.

Bristol & West Investments (BWE.L) received the attention of Geoff Miller, a fund manager at Exeter Asset Management, in The Business from Sunday. He advises that the Company is a growth play "that will continue to blossom whatever happens to house prices" and is still receiving record levels of enquiries for bridging loans. Bristol & West Investments offer a quality service that means that loans can be completed within a week unlike high-street banks. The company estimates that it can double the size of its current business without increasing staff, thus achieving greater margins. In addition, with a historic P/E of just over 9 the shares are considered cheap for a growth company. Geoff Miller concludes, "it is a gem that should be snapped up around the current level." The shares were up 0.25p to 8.875p from Friday's close at 11.14.

Saturday's Daily Mail commented briefly on a positive AGM statement by Claims People's (CLM.L) chairman John French. He expects that the Company should reach break even by the end of July. The shares responded by moving up 1.25p to 3p on the day. The shares were down 0.25p from Friday's close to 2.75p at 11.14.

Shares in Interactive Digital Solutions (IGL) were higher on Friday thanks to buying ahead of the results, the Daily Mail from Saturday reported. The shares were unchanged at 2.875p from Friday's close at 11.20.

Mediwatch (MDW) was included as a stock to watch in the Sunday Express. The newspaper noted that sales are expected to soar this year and that breakeven is getting closer. At 16.5p "the shares are worth a punt," they said. The shares were up 4p to 20.5p from Friday's close at 11.14.

The Financial Mail on Sunday was bullish about shares in Trio Holdings (TRN.L). The newspaper reported that last week's price rise came on the back of rumours about a possible takeover bid by Icap, but noted that should any bid fail to materialise, recent gains are not hollow as half-year results revealed profits five times higher than last year. The shares were up 0.75p to 20.5p from Friday's close at 11.13.

Today's 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.

Ennstone (ENN) - Director Appointment.
Fulcrum Pharma (FUL) - Director Shareholding.
Gladstone (GLD) - Holdings in Company.
Leisure Venture (LSV.L) - Agreement.
Oxus Mining(OXS) - Holdings in Company.

Look Out For This Week

5 June -
6 June - Hartest Holdings preliminary results;UK interest rate decision; ECB interest rate decision.
7 June -

Compiled by Andrew McLintock

Penny Shares Online - penny shares research and information service.