Charts better than tea leaves on GLD

MRS Stock Talk comment 16/12/2005
Gladstone has achieved a year of broadly steady profits and higher than expected cashflow says KBC Peel Hunt. Argues the Group's "functionally rich product, dominant market position and recurring revenues provide the new management with a stable foundation on which to build."
Cuts 2005/2006E revenue forecasts by £0.3m to £8.5m whilst initiatives are put in place that "should drive both organic growth and margin improvement next year and beyond."
Says shares look decent value if this can be achieved. At 1029 GMT shares were unchanged at 23p.