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ELECO
ansc4495 - Sat, 22 Oct 05 :
The Annual Report and Accounts arrived this morning and, as expected, makes very pleasant reading. The only blot on the landscape would appear to be the increase in the net pension liability (using FRS17) of £2.2m; I'm assuming its grown because the actuary has acknowledged the increased lifespan of pensioners but will try and check with the FD next week. Even at £4.5m, it shouldn't present too much of a problem.
As regards the spread, wcb, this is very typical of an illiquid stock like ELCO. I've never really understood the reasoning behind it and have always assumed that, because the MMs make fewer trades - what do they expect with such a massive spread! - they therefore need to make more money on each trade!! Cynical, not me.....
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