The s.p. may have suffered by reason of the company being ramped too high early on. Christopher Spink in the Dec.`05 Growth Investor suggested pre tax profits exceeding £1m. in the current year of 05/06 [they were £411,619] whilst Monisha Varadan in July `05 had predicted sales of over £4m. in 05/06 [they were £3.7m.] Just where did they get these figures from?
Perhaps trading is only just now catching up!
Last year the company very sensibly issued a third quarter trading statement on 24th Jan. If it does the same this year, we should be able to get a good picture of the full year`s trading.
With the directors + one institution holding 80% of the shares, there is only a small free float but if they want to raise more equity, they will need to get the s.p. up from its present level, altho` they are carrying a reasonable amount of cash for further acquisitions.
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