Final Results Due In March 2005.

http://www.cityfin.co.uk
Trades over 450,000 shares are delayed in reporting by 1 Hour.

One of City Financial Associates (CFP's) main operating goals is to bring fledgling companies to the market. With the depressed stock market over the last few years many potential clients have deffered entry to the LSE. Markets have now turned and the reality of a sucession of new floatations is growing. CFP are well positioned to enjoy the rewards that will be benefited to them in this growing market place.

Why the EXCITEMENT - will here are the reasons why I think we're on a winner.

1) My motto is when it's comes to investing there are three things. Management, management and management. With any good investment - the management should be the driving force in a company. Can they cut the mustard, are they dynamic, do they have good contacts? I think so if you read the following profile.

Stephen Barclay, Executive Chairman

Stephen Barclay, aged 61, qualified as a Chartered Accountant in 1964 with Robson Rhodes before obtaining an MBA degree from Wharton Business School in 1967. In 1989, after a career during which he reorganised various companies, he established City Financial Associates Plc (formerly Clifton Financial Associates Plc) to provide corporate finance advice to small to medium sized private and public companies. In August 1998, City Financial Associates Plc was purchased by Talisman House Plc (now Seymour Pierce Group Plc) where he became group executive chairman. In December 1998, Talisman House Plc purchased an institutional stockbroker, Seymour Pierce Limited, where he became executive chairman. He resigned as a director of Seymour Pierce Group Plc and various other group companies at the end of March 2001 to found CFA Capital Group Plc. He is a director of a number of public companies including MICE Group Plc and Talisman First Venture Capital Trust Plc and is a governor of the London School of Economics and Political Science.

John Shaw, Executive Director

John Shaw, aged 54, qualified as a Chartered Accountant in 1975 with Touche Ross & Co in London. Subsequently he spent two years seconded to the Quotations Department of the London Stock Exchange returning to Touche Ross & Co to join the Corporate Finance Group until 1982. After a period as a sole practitioner, he joined Chase Investment Bank Limited in 1985, was appointed a director and founded the Equity Investment Group, formed to invest in unquoted companies. In 1990 he joined Henry Ansbacher & Co Limited as an Assistant Director of Corporate Finance. He started working with City Financial Associates Plc in early 1995 and was appointed a director in December 1996. He was appointed a director of Seymour Pierce Limited in December 1998 where he was initially Head of Corporate Finance and latterly Head of Private Equity. He resigned from Seymour Pierce Limited and various other group companies at the end of March 2001 to found CFA Capital Group Plc.

2) They have turned a 2 million loss into nearly a profit if you ignore costs for discontinuing operations - that some turn around.

3) With only small market capital of 3.83M it's feasible to suggest they could make a good profit this year as they have already got off to a good start signing more clients.

A profit of half million would give a pe ratio of 7.66

1 million a pe ratio of 3.83

1.5 million a pe ratio of 2.55

2 million a pe ratio of 1.91.

So it would only take a small profit to make this company super undervalued. Consider the possibility they could achieve a 2 million profit this year, which is the least, I expect, we could be looking at a share price of 7p. YES THAT'S 7P (An average p/e for the sector is 16.) Even with a profit of only 1 million that's still an upside of 3.5p.

3) Consider the fact that some of their clients pay their fee by way of giving large share holdings to CFP. All it would take is two or three creamy companies to give them valuable portfolio holding which they could cash in at a substantial return.

4) The IPO is sector has already increased three fold this year. More and more companies are coming into AIM and from abroad then ever before. Rules have changed where foreign companies can use a fast track scheme to get on board more quickly then ever before. I'm sure CFA Associates are well positioned to benefit with this increase in volume.

5) We could see a re-rating this year in this sector, which would be the cherry on the top.

I rest my case, to me this is a no brainer unless you want to wait for the next results for proof they have achieved profitability. If that's your cautious approach, fine but by then, you can then expect a much higher share price then now.

Major Shareholdings:
Stephen John Barclay 64,600,000 11.66%
Pershing Keen Noms Ltd 49,610,000 8.95%
John Richard Shaw 29,400,000 5.31%

RNS Number:9414C
CFA Capital Group PLC
15 September 2004

CFA Capital Group plc
Interim results for the 6 months ended 30 June 2004
CHAIRMAN'S STATEMENT

Highlights

* Nominated Adviser to 20 AIM companies - broker to 15 AIM companies

* Currently handling a number of AIM flotations and other major transactions

* Strong second-half order book - solid outlook for year

* Turnover for the period up 95% to #510,000 (6 months to 30 June 2003:
#262,000 from continuing operations)

* Losses before taxation of #58,000, (loss 6 months to 30 June 2003:
#208,000 from continuing operations)

* Currently recruiting to further strengthen team

Introduction
I am pleased to announce that CFA is now retained as Nominated Adviser to 20 AIM
companies and broker to 16 AIM companies. The company is currently working on a
number of AIM flotations and other major transactions, and as such has built a
strong order book for the second half of 2004. The fees generated by this
activity, taken together with our underlying retainer income and largely-fixed
overhead base, leaves us well-positioned for a satisfactory outcome to the year
as a whole.

Sharply reduced losses for the first half were achieved even though we had to
incur costs on two flotations that were not completed until July 2004 which
generated revenues of #225,000. These revenues were not recognised in the
results to 30 June 2004.

Turnover for the period nonetheless increased 95% to #510,000 (6 months to 30
June 2003: #262,000 from continuing operations), with losses before taxation of
#58,000 showing a marked improvement from #208,000 (6 months to June 2003 -
continuing operations).

Following the sale of CFA Securities Limited in 2003, CFA is now firmly focused
on servicing the needs of clients who are essentially AIM listed companies run
by entrepreneurs. We now have a team of eight, comprising executives and support
staff, providing corporate finance and broking advice. We are in the process of
recruiting further executives to join the team. This recruitment will ensure
client service levels are maintained as we meet the increasing demand for our
services.

In accordance with my statement on the results for the year to 31 December 2003,
CFA started the beginning of 2004 with a good pipeline of work and with a degree
of optimism that market conditions would enable these deals to be completed and
this was the case in the first quarter to 31 March 2004. However, in the second
quarter, in a number of cases transactions that we anticipated completing in the
first half have either been completed since the end of June or have been
deferred. This adversely affected our earlier expectations of financial
performance in the first half of the year.

Financial review
Despite these factors CFA achieved a creditable result in the first half.
Turnover was #510,000 (6 months ended 30 June 2003: #262,000 from continuing
operations), overheads (including plc running costs) were #609,000 (2003:
#458,000 on continuing operations) and the loss before taxation for the period
was #58,000 (6 months ended 2003: loss #208,000).

These results need to be seen in the context of our having completed the
flotation of Smallbone plc (admitted to AIM on 26 July) and Ragusa Capital plc
(admitted to AIM on 15 July). No income is taken into account in the period in
respect of these transactions, although a significant amount of the costs
relating to these flotations were incurred in the period.

CFA is now retained as Nominated Adviser to 20 AIM companies and retained Broker
to AIM 15 companies. Annualised recurring income currently totals over #340,000
representing approximately 30 per cent of total budgeted group costs, and we
anticipate that our level of retainers and this source of revenue will show a
significant increase by the year end. Our increasing base of retained clients
not only provides a source of recurring revenue but is also a prime source of
transactions.

On 27 May 2004 we announced a placing of 65 million new ordinary shares at a
price of 0.7p per share, to raise #441,340 net of expenses. As at 31 December
2003 the net assets of CFA Capital Group plc were #534,000. The impact of the
placing and the small loss in the period, has been to increase the Group's net
worth as at 30 June 2004 to #914,000, creating a sound financial base.

Current trading
We currently have a strong order book both in respect of a number of AIM
flotations and other transactions partially arising through our existing client
base. On the basis that we complete a good number of these transactions, we
anticipate a satisfactory outcome for the year as a whole.

Summary
On 31 July 2004, John Shaw stood down as a Director of CFA Capital Group plc and
all Group companies. John has worked with me for over 10 years and was a founder
shareholder of the Company in 2001. The Board thanks John for his significant
contribution and wishes him well for the future.

The Board also extends its thanks to the entire team for their efforts so far
this year.

10th of september today---max 20 days and we will know the results. I feel like there is going to be an eruption

Have to agree Thesaurus, the Charts are very positive:
Nice steady uptrend supported by reasonable volumes.
All three MACD Bullish indicators present.
Only small possible downside is the resistance at 0.9p, but with any luck will break out above that level next week and then hopefully onwards and upwards.

Regards

PTH

i think main break out will probably be after the results , which will be good and should make people sit up and take notice........imho

ru sure

A very interesting comment from advfn:

"I hear from very reliable City colleagues that this stock is set to explode. The management are working on some impressive mandates, which could see the stock triple from current prices. The importance of this will be reflected on future work that CFA management should be able to win as they will prove they have the capability to deal with higher funds raisings give them higher credence. If you take away the cash with a profit of 200K then you are looking at current price just under fair value but reflective growth is very far off considering the up and coming deals which will be announced shortly. strongsell, I have shit bigger then you my boy! I will post back again here when I have proved my point and you can hide under another aliases when you will try to bring it down from 3p levels - lol"

This was in response to a deramper who has suddenly appeared (normally a good sign that a significant rise is on the way).

in my time on advfn I have learnt to take every comment with a pinch of salt...wouldnt read too much into that overgrowth!! lots of investors know city collegues..the companies great and i expect good things, but until news from company il sit and wait.

Fair comment hornster, I must admit my City contacts haven't heard of a company if it's not in the 100/250. On the other hand, CFP is suspected to be involved in a substantial placing for Dinkie Heel, if there are others too the touchpaper could be well and truly lit under this one.

CFP have been relatively quiet recently, looking back over their previous deals, they have these quiet spells normally lasting a month or so, and then suddenly several substantial deals are announced in relatively short succession. Given that the fourth quarter is busiest time for their business, there should be interesting times ahead.

Results are due out sometime this month, however I suspect that they will have little impact on the share price, the real gains will come when these major deals are announced.

The AIM market is booming, and when a company of CFP's pedigree goes quiet I suspect that there are great things going on behind the scenes. This may prove to be overly optimistic, though my "gut feel" suggests otherwise.

overgrowth i agree look at the last rise it resulted in the stockmarket making sb release a statement

which dampened the share price or imho it would have reached 3p

but not only that the reacent too and throw has the same mo as the last cpl of market moves on this little gem

i mean more buys than sells no movement in share price
then the spread increases (for no justified reason imho)except for the mm to make more money on little amount of share they have

now im longterm on these and dont mind it not rocketing(if it does so be it) a slow progress onward and upward does me

but(there is always one of these lol) imho the mm wont be able to hold it much longer if a cpl of big buys come through which might happen this week imho

if they try i think they will look stupid cause this share has got great potential and cash in the bank to boot

i think that if they turn round after results and made another placement of share it would not have any effect on this share as it would increase their capability to make bigger deals as ther rep get known throught the finance industry(imho of course)

and as they have just got there web site up and running the need to take on more staff, money in the bank and getting buissness without advertising tells me my gut was right when i hit this share last year(before i found money am i may add sorry sue helen)

so to round up all slackers dump your shares now cause the cheeper they are the better it is for you guys to make me my millions

roll on rool up hold on to your hats were getting close to take off

deadfred, if the MMs are in danger of getting short of CFP shares, given the amount of retail investors who are in for the long term (encouraged by the company's performance and massive tax savings to be made after 2 years of holding), it looks as though we could be in for some amazing rises in the price over the next 6 months. The big question is - how many of the long termers who were in early will have to take profits at 5p ?

could someone please tell me what 1,no brainer means,2 imho means

drunker50,

1) A share that requires no brains to invest in: Just buy a few, forget about them and call back some time later to scoop up substantial winnings.

2) Internet abbreviation for In My Humble Opinion.

As in "IMHO CFP is a no brainer" - what better recommendation can you get ?

overgrowth.
thankyou very much

Is sue helen back in these yet

i bought these late friday and the trade never showed,nor as it come thru today yet

if the results are good then y are these guys waiting till the very end to iss ue them

Great find by Ponty on the other bb.
More work for cfp.
Look at all the sellers today, people were expecting news on the 9th didn't come so traders that trade on the expectation of news are bugging out, that is good news for a more graduall sustained rise when news does come.

this looks like a new company


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AIM
13 September 2004


ANNOUNCEMENT TO BE MADE BY AIM APPLICANT AT LEAST 10 BUSINESS
DAYS PRIOR TO ADMISSION

ALL APPLICANTS MUST COMPLETE THE FOLLOWING:

COMPANY NAME: TELEPHONE MAINTENANCE GROUP PLC



COMPANY ADDRESS and Registered Office:

SENATE HOUSE
SAXON BUSINESS PARK
STOKE PRIOR
BROMSGROVE
WORCESTER



COMPANY POSTCODE: B60 4AD

COUNTRY OF INCORPORATION: ENGLAND



COMPANY BUSINESS:



SUPPLY OF TELEPHONE MAINTENANCE SERVICES TO BUSINESS USERS



DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares,
nominal value and issue price):



UP TO 76,773,098 NEW ORDINARY SHARES





CAPITAL TO BE RAISED ON ADMISSION:



UP TO 1,200,000



FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:

LORD TIMOTHY RAZZALL OF MORTLAKE CBE, NON EXECUTIVE CHAIRMAN
DAVID MICHAEL SANDY SAUNDERS, NON EXECUTIVE FINANCE DIRECTOR
JEFFREY SELWYN WILLIAMS, MANAGING DIRECTOR
JOHN ANTHONY MITCHELL, NON EXECUTIVE DIRECTOR
JAMES FRANCIS WILLIAMS, NON EXECUTIVE DIRECTOR



PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A
PERCENTAGE OF THE ISSUED SHARE CAPITAL STATING WHETHER BEFORE OR AFTER
ADMISSION:



BEFORE ADMISSION:



JEFFREY SELWYN WILLIAMS (27.87%)
IAN LEASK (18.94%)
BOSTON INVESTMENT MANAGEMENT GROUP LIMITED (15.43%)
FORREST NOMINEES (11.77%)
MEDITERRANEAN TRUST CORPORATION (9.14%)
JAMES FRANCIS WILLIAMS (3.37%)





AFTER ADMISSION:



DETAILS TO FOLLOW

NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE
2, PARAGRAPH (G) OF THE AIM RULES.



DETAILS TO FOLLOW



ANTICIPATED ACCOUNTING REFERENCE DATE: 31 JULY

EXPECTED ADMISSION DATE: 28 SEPTEMBER 2004




NAME AND ADDRESS OF NOMINATED ADVISER:



CITY FINANCIAL ASSOCIATES LIMITED
POUNTNEY HILL HOUSE
6 LAURENCE POUNTNEY HILL
LONDON
EC4R 0BL



NAME AND ADDRESS OF BROKER TO THE PLACING:



CITY FINANCIAL ASSOCIATES LIMITED
POUNTNEY HILL HOUSE
6 LAURENCE POUTNEY HILL
LONDON
EC4R 0BL



DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE
AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE
APPLICANT AND THE ADMISSION OF ITS SECURITIES.



CITY FINANCIAL ASSOCIATES LIMITED
POUNTNEY HILL HOUSE
6 LAURENCE POUTNEY HILL
LONDON
EC4R 0BL


DATE OF NOTIFICATION: 13 SEPTEMBER 2004

NEW/UPDATE (see note): NEW



LISTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:

DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE
OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY

A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF THE
APPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD FOR
WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED OR AN APPROPRIATE NEGATIVE
STATEMENT

A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT
ITS WORKING CAPITAL WILL BE INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM THE
DATE OF ITS ADMISSION

DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RUL

Profits soar at Shore
MoneyAM
Shore Capital Group, an investment bank focused on equity capital markets, posted a 10- fold jump in pretax profit for the six months to end of June 2004, helped by continued improvement in market conditions for much of the period.

H1 pretax profit surged to 3.02m from 343,000 as sales rose to 8.04m from 2.58m. Sales jumped 44% from the second half of 2003.

The company plans to pay an interim dividend of 0.285p, up from 0.035p.

"Although stock market activity in the Summer months was subdued, September has started more positively and we believe that we can continue to grow our ECM (Equity Capital Markets) business in terms of market share," said executive chairman Howard Shore.

"We particularly see growth opportunities in our Asset Management and Principal Finance business. Accordingly, we see good prospects for a successful year as a whole and beyond," he added.


CFP COULD BE SIMILAR

"telephone maintenance group"???????? sounds like a firm from the 1800s. why is everybody so quiet now on this thread? used to be a chatty thread ............back in the day....

Hi everyone, just a quicky, i to added yesterday and again this morning but they hav"nt shown anyone no why. Also a few wks back when i added they showed as sells and not buys. Strange.