There is little in the financials which would mark this out, one way or another, as a good or bad investment.
At market cap of £2.37M it's hard to see that there is much good news in the share price and it would not have to do much to justify that sort of value. Nevertheless the financials don't show much of a trend
[*Assuming all the goodwill and exceptionals are continuing]
The Chairman notes that H1 05 hides an improving trend and that profitability has been reached in June/July/August. Mmm, weren't we here some 18 months ago? Why did the Group loses profitability thereafter. My suspicion is that the business is lumpy.
On the plus side the Company has cash and no obvious working capital pressure, with very high margins. The later should at least mean that it could get into significant profit without huge working capital demands.
XML is certainly a coming force (although how soon is hard to say). They have an impressive client list but will need to invest to stay ahead of the pack. 'Fraid I don't know enough about this to make a guess as to STL's chances and there is nothing in the financials to say how they are doing.
Sterling Bancorp (N.Y stock quotes
Sterling Bancorp (N.Y stock charts
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