Following the AGM statement which was positive for the year as a whole there is an unjustified drop in its price this morning following news of its traditionally quiet first quarter. These shares are fundamentally undervalued compared to their peers and have being on a great run over the last 12 months. Several brokers are very positive about them, as are Investors Chronicle and Shares magazine.

With today's news of a 25% increase in London portfolio i.e. 6 bars now increasing to 8, I have increased my holding. This is a well-run company on a low p/e. Profitable, cash-generative, growing, etc. IMHO any downside is in the price - e.g. Terrorist threats on London in general.

Beware also this is thinly traded. Only last week the MMs marked the price down about 6% on virtually no volume after a cautious trading statement. However for me that created the buying opportunity that has been confirmed by this bit of news.

Share price doing very well on take over possibilities. I bought pre split and have been holding only for it's value as a caplital loss.

skg