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Penny Share Review 166

Monday 13 January 2003

The Weekend's Comments

Ennstone (ENN) features in The Sunday Times' 'Sharewatch' column. The shares have been chased up in recent weeks on speculation that Aggregate Industries would make a bid, but the paper notes that the price for such a takeover could be over 50p, which might be a little too high for Aggregate Industries. The article notes that in the short-term "while the stalemate exists, …(the) shares…could drift." At 9.38 the shares were down a 0.5p to 39.5p from Friday's close.

Today's trading statement by Envesta (EVS) is previewed in this morning's FT. Revenues are said to be no less than £5.8m compared with £4.9m last year while operating profits would be at least £400,000 in contrast to last year's loss of £10,000. The Company is expected to continue to explore option that would allow it exploit and take advantage of consolidation in the SME telecoms sector. The shares at 9.38 were up 0.5p to 3.625p from Friday's close.

Profile Media (PMD) is one of the constituent shares in Derek Pain's investment portfolio. He writes in The Independent on a Saturday and this week notes that with new banking arrangements, lower overheads it may be in a position "to take advantage of any advertising upswing." He cautions that Profile "faces a difficult time", but "the continuing support of its bankers and the determination of its management must be bullish indicators." The shares were unchanged from Friday's close of 0.875p at 9.39.

The Financial Mail on Sunday reports that Reflec (REF.L) "is poised to announce a strategic partnership that could more than triple its cash pile." It is understood to be negotiating a partnership with a clothing firm that could lead to a cash injection of between £2m and £4m. At 9.39 the shares were up 0.23p at 1.45p from Friday's close.

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.

Chelford Group (CHR) - Director Shareholding.
Envesta (EVS) - Trading Statement.
Intelliplus (IPS.L) - Director Shareholding.
SectorGuard (SGD) - Final Results.

Look Out For This Week

13 Jan - UK Producer Prices (Dec).
14 Jan - UK Industrial Production (Nov), US Retail Sales (Dec).
15 Jan - UK Average Earnings (Nov), Unemployment (Dec), US business inventories.
16 Jan - US consumer price inflation (CPI).
17 Jan - Euro industrial production (Nov), US Consumer sentiment (University of Michigan).

Compiled by Andrew McLintock

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