Max Damage
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I think so mkt cap 111 million with 17 month 2000 profits (12 month was 19 mill)to come in at about 27 mill and 2001 forcast at 24 mill.
LONDON (AFX) - Shares in Pressac PLC were a positive feature in early
afternoon trading, mirroring the firmer market trend, and helped by news of
an
upgrade in rating by Dresdner Kleinwort Wasserstein, dealers said.
The German-owned brokerage has upped its stance for the electrical
equipment
firm to 'add' from 'hold', although it has also reduced forecasts for the
group
-- taking them down to the lower end of market expectations.
Dresdner Kleinwort lowered its underlying pretax profit forecast to
27.0 mln
stg for the 17 months to December 31 2000, down from 28.4 mln, and to 23.5
mln
stg for the the year to December 2001, down from 27.8 mln.
The broker pointed out that the mobile phone handset market has been
miserable since the middle of 2000, but although it is still not easy there
are
encouraging signs for Q2 2001, with demand appearing firmer and new models
emerging.
Dresdner Kleinwort noted that Pressac shares have performed miserably
recently, but it felt that investors should bear in mind comparators
ratings,
and added as well and that aside from telecom equipment, the group has an
above
average auto business where there is scope for upside.
In reaction, at 1.02 pm, Pressac shares were 12 pence firmer at
128-1/2, its
best levels for the session so far.
jmh/rn
Way way way too cheap so I bought some this morning at 123p.![Big grin :D :D](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Anyone else in here?
LONDON (AFX) - Shares in Pressac PLC were a positive feature in early
afternoon trading, mirroring the firmer market trend, and helped by news of
an
upgrade in rating by Dresdner Kleinwort Wasserstein, dealers said.
The German-owned brokerage has upped its stance for the electrical
equipment
firm to 'add' from 'hold', although it has also reduced forecasts for the
group
-- taking them down to the lower end of market expectations.
Dresdner Kleinwort lowered its underlying pretax profit forecast to
27.0 mln
stg for the 17 months to December 31 2000, down from 28.4 mln, and to 23.5
mln
stg for the the year to December 2001, down from 27.8 mln.
The broker pointed out that the mobile phone handset market has been
miserable since the middle of 2000, but although it is still not easy there
are
encouraging signs for Q2 2001, with demand appearing firmer and new models
emerging.
Dresdner Kleinwort noted that Pressac shares have performed miserably
recently, but it felt that investors should bear in mind comparators
ratings,
and added as well and that aside from telecom equipment, the group has an
above
average auto business where there is scope for upside.
In reaction, at 1.02 pm, Pressac shares were 12 pence firmer at
128-1/2, its
best levels for the session so far.
jmh/rn
Way way way too cheap so I bought some this morning at 123p.
Anyone else in here?