New Media Spark TMT ripe for recovery

From today's IC "Bargain Shares".

Results a fortnight ago from New Media Spark (TIDM: NMS) reflect the hefty gains realised on disposals which has sent the net asset value (NAV) of the technology investment firm surging 28 per cent to 17.9p a share in the 12 months to end September. The company's balance sheet is positively stuffed with cash with net funds totalling £35.2m, the equivalent of 8.4p a share. Part of this is being spent on value enhancing share-buy backs, although management is on the look out for further investments and anticipates announcing some additions to the portfolio over the coming months. The shares, which have risen 25 per cent to 12.25p, trade 15 per cent below NAV and, with some positive newsflow on new deals expected, they continue to rate a buy at 15.25p.