Been watching these for ages and it looks like oystertec have bottomed over the last couple of days - there was some concern that collins stewart had a stock over hang. I talked to them yesterday and they confirmed they did not - since then the price has started moving up and i purchased a few this morning at 10.25.
Currently there are 3 mms on the bid and 1 on the offer.

shares are up by 23% today



Interim Results for the six months ended 30th June 2003Oystertec PLC ('Oystertec'), the engineering intellectual property group, ispleased to announce its interim results for the six months ended 30th June 2003.Highlights for the period were as follows:
- Operating profit before goodwill and exceptional items of #1.49m (2002: loss of #1.27m)
- Successful focus on earnings growth, with earnings per share of 0.56p (2002: 0.09p)
- Good progress in developing and marketing the Oystertec product range
- Increase in gearing as expected with interest cover of 5.5 times: second half to be cash generative.
- On going rationalisation programme significantly reducing costs in second half- Performance improvement anticipated to continue.

Shares in Oystertec are up on day by 26.4%


Oystertec upbeat on outlook as profits jump
AFX
Healthy first half figures and full year numbers should be at least in-line

Oystertec PLC said it is confident about future prospects and its full year outlook is at least in line with market expectations. Its shares rose 26.4% to 16.75p.

The engineering intellectual property group reported a substantial jump in pretax profit for the first half to June 30 2003 to 1.65 mln stg from just 124,000 stg a year earlier and earnings per share of 0.56 pence, up from 0.09 pence.

Turnover for the half year, including the share of joint venture turnover, was 51.95 mln stg comapred with 55.14 mln.

The board said the ongoing rationalisation programme will significantly reduce costs in the second half and the improvement in performance is anticipated to continue.

Chairman Angus Monro said the significant profit growth in the first half reflects the group's strategy of driving down costs in operating divisions and achieving higher quality of earnings.

Together the plumbing and industrial businesses generated profits of 2.17 mln stg, before goodwill and exceptional costs, in comparison to a loss of 0.27 mln for the same period last year. Corporate costs were reduced from 1.0 mln stg to 0.69 mln.

Group operating profits before goodwill and exceptional items were therefore 1.49 mln stg against losses of 1.27 mln last year.

Gearing has increased as anticipated, through financing of rationalisation costs and the building up of stocks in advance of factory closures. Monro said the group remains comfortably within banking facilities and anticipates the second half year to be significantly cash-generative.

Sales across the group in July and August 2003 are in line with expectations. 'We commence the second half with a degree of cautious optimism despite certain markets remaining difficult, especially in industrial applications,' Monro said.

As indicated, he said costs will be materially lower in the second half and the group will continue to push ahead with its remaining rationalisation projects, benefiting 2004 and beyond. 'As a result, we anticipate that our performance through the second half will continue to improve.'

'We remain focussed on marketing the Oystertec products within plumbing, hydraulics and automotive applications, so that revenues will grow from 2004 onwards,' Monro added.

After the good trading statement can anyone explain the continued weakness in the share price. Thanks to comments by `Dave the Hourse` on share crazy I have made money on these - I`m tempted to get back in but I`m not sure where the bottom is around 14.5 I guess ?