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Penny Share Review 157

Monday 04 November 2002

The Weekend's Comments

The Independent on Sunday suggests that the shares in Incepta (ITA.L) have been oversold. Things have been bad and exacerbated by the general economic downturn affecting the advertising and media sector, which has meant that the Company has been unable to raise its fees and has found it difficult to bring in new business as competition has intensified. It also had to make staff cuts in its PR divisions. However, the article notes that Incepta is not on "death row" and that chief executive Richard Nicols has "weather-proofed the company against the worst" by concentrating on marketing, in particular indirect marketing through the acquisition of The Red Consultancy. Moreover, Incepta doesn't do consumer advertising, "but for a communications company, it has done a rotten job explaining all that." The downturn has claimed many small communications firms, but the Company has "enough retained clients to ensure it will not join them, and actually stands to gain from the demise of its smaller rivals." There are also rumours of an MBO. The shares at 10.18 were up 0.5p to 14.5p from Friday's close.

Today's Daily Express covers the launch of the youth football tournament, the London Cup by Leisure Ventures (LSV.L). The competition will involve teams like Chelsea, West Ham and Charlton as well as others from the US and Europe and has received backing from the FA and the British Tourist Authority. The Company's trading business, the International Academy will organise the accommodation and travel for the competing teams and the final is to be played at Chelsea's Stamford Bridge stadium. The shares at 10.20 were unchanged from Friday's close at 6.125p.

Saturday's Daily Express gave some indication of why the shares in TransEDA (TRA.L) have had a run up recently. Dealers reported that a large seller had been cleared out and also that there were rumours that the Company would reveal a bullish trading update at this week's AGM. The shares were up 0.75p from Friday's close of 1.875p at 10.21.

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.

NWD Group (NWD.L) Change of Advisor.

Look Out For This Week

4 Nov - UK industrial production, US Consumer Credit
5 Nov - Germany jobless (Sept)
6 Nov - UK Trade figures (Aug), Monetary Policy meeting.
7 Nov - UK BoE interest rate decision, Housebuilding (Aug), New construction orders (Aug).
8 Nov - No data scheduled.

Compiled by Andrew McLintock

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