Tuesday, July 22, 2008

NMG share spilt confirmed

Spilt shares start trading on 11th of August with books closing this Friday. Moderate share growth and a fat dividend makes NMG a share to hold for the longterm. Don't all rush in now.

Total announced a doubling of profits for the first 6 months, with turnover growing by 30% (petrol-pump prices I'd say given its probably able to sell old stock at seriously good margins); but the key driver was much slower growth in costs.

EA Cables was pretty flat despite a good first quarter. Me thinks exit time may be very near. The Kenyan business which is still the major business driver is simply not performing as well as I thought it would be given the construction work still on-going. Still, I can hang onto the shares until mid 2009 to see if fibre-optic will have the impact I have included in my forecasts.

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