PACIFIC MEDIA - WHERE FROM HERE?

Dave, half the loss making cinemas have recently been sold for £1.62 million cash, adding to previous cash on the balance sheet. The company is now focussed on the more lucrative TVMedia venture, which is in the process of expanding into the potentially huge Chinese market. As of last year, it was already delivering 10,000 orders per week (excluding China) and so has a tried and tested format. During 2001, the Company went into profit owing to this contribution and the directors have made positive trading statements about future prospects backed up by substantial share purchases.

It seems to me the company is now in a lot better shape than when it managed a previous high of 13p, yet it is largely overlooked at sub 2p; but for how much longer? In this respect a new house broker, Beeson Gregory, has just been appointed, and they have announced they intend to begin "coverage" of the Company in the near future; with all the potential implications for the share price that go with extra publicity.

Look at the NEWS menu above where you will find more information, including the last company report.

Q.

(Not an instruction to buy, sell or hold).