Got out of this one as its problems started to become evident last year, but is it now time to get back in and recover some of the losses I made?
Finals are due in March and we are now in the closed period. The poor results are expected and built into the price. The profits warning also said that despite the legal battle with a non paying customer (Hence the warning) its back office metals and oil trading software would be rolled out in Q1 of 2006 and that this year would see the lead pipeline converted into sales.
This is definitely not for widows and orphans, but I feel the stock was probably oversold anyway following the profits warning and the market has lost sight of what a profitable little company this was prior to floatation and the legal battle. If the orders really are coming and the legal challange is as unfounded as the management seem to think in their RNS releases, this share could have a belting 12 months ahead.
But as I said, not for widows and orphans, and be prepared to take a gamble.
What do other posters think?
Alan

Solid set of results here,,,,,,,,,,IMO