I know there have been several threads on one but I think it is worth taking another look. I must admit I would not purchase for the long term until things settled down, but the short term profit has been pretty good! I've been buying this share regularly over the last few months. Usually selling within 2 weeks with a 10 - 20% profit. The price always drops again and I start all over again.

The company itself is quite solid. It's biggest problem is cash-flow (caused by overproduction, and not enough sales so are carrying a lot of stock). They have managed to refinance the short-term lending, and have been reducing this, which if they can keep reducing it, it could stop being a problem.

Of course the uncertainty's over the plans of the Russian Investor Usmanov (which is still just speculation as he has not actually done anything about increasing his stake yet) and other press which also has been just speculation and not FACT has not helped the price continue to rise so instead it has YoYo'd and I and I suspect a few others have been making use of the opportunity!

4th July
LONDON (AFX) - Shares in Corus Group PLC were extending their recent rally after ABN Amro upgraded its recommendation to 'buy' on hopes of positive newsflow from the steel group in the next three months, dealers said. The broker, which formerly rated Corus shares a 'hold', set an initial target price of 23 pence. "Corus is still a speculative investment at this stage but we see a big gap between the current share price and where it could be if the group achieves its goals," ABN told clients.

It argued that the troubled group is stabilising, with new financing
agreements with banks -- including ABN itself -- having already been pencilled
in. "We await confirmation of the final syndicated facility and expect this to
be positive for Corus's equity," the broker said. It also reckoned Corus has seen an improvement in its loss-making UK operations during the first half 2003, helped by steel prices, sterling and cost-savings.

This should be enough for the group to show a profit for the UK when it
reports interims in September, ABN said.

The broker was also encouraged that Corus chairman Brian Moffat has a strong
track record of corporate reorganisation, given the group is faced with further
restructuring in the UK costing an estimated 250-350 mln stg. At 10.11 am, shares in Corus were up 0-1/2 pence to 18. They have rallied
from 14-1/2 pence over the past five sessions.

LONDON (AFX) - Struggling steelmaker Corus Group PLC said it expects to report a 100 mln stg improvement in its first half operating result before exceptionals compared with the 141 mln loss seen in the second half of last year but it said market conditions are still tough.

The comments accompanied news of a new 1.2 bln eur bank facility that replaces one that was due to expire in January next year.

newsdesk@afxnews.com

cw

Looks a bit better now - yes?