City File: Eurotherm radiates prosperity - Business - News - The Independent

City File: Eurotherm radiates prosperity

DREADFUL markets, no sign of upturn. Don't let it bother you. Follow the lead of Eurotherm's management.

For despite operating in what could hardly be called ideal conditions, the heating control and automation group will report record profit levels on Tuesday. NatWest Securities reckons that pre-tax profits will be up by more than a third at pounds 19.9m.

The management has been cutting costs and squeezing up margins and reckons there is further to go.

Meanwhile, the economic conditions are starting to improve. Even if the company's shares are on 22 times earnings, they could rise further.

MILLGATE has not set the market alight since its recent placing at 40p. But the car alarm distributor looks like it has reasonable prospects.

The management team - Paul Layzell, who used to head BMW (GB), and Clifford Bosely, formerly of Perry Group - is keen to expand the company and is looking for acquisitions. Meanwhile, Millgate distributes the highly successful Italian car alarm, Laserline.

Profits for the year to November are forecast to reach pounds 1.5m, putting the shares, at 41p, on around eight times earnings. A steal.

GOLD from Sardinia sounds like something mentioned in the Iliad rather than a serious investment proposition.

However, it appears that the backers of Sardinia Gold Mining are serious, as modern mining techniques look set to open up the island's 360,000 ounces of gold reserves for exploration.

The island was one of the few mining areas left unexploited by the Romans, mainly because of the low gold density in the rock. Laurie Beevers, gold guru at the Manchester stockbroker John Siddall, is enthusiastic about the prospects and is recommending investments in Gemcor, the Australian resources company that owns 35 per cent of the Sardinia project and is traded in London.

THE GROWING fan club for shares in the Telegraph Group, currently trading at their 1993 high, should swell even further tomorrow when the stock becomes a constituent of the FT All-Share index.

That automatically puts the company, which publishes the Daily Telegraph and its sister Sunday newspaper, on the buy lists of many institutions that run index-tracking funds. Those funds must faithfully reflect the composition of the index.

The newspaper group is eligible for membership of the All-Share as a result of a decision by Conrad Black, the chairman, to cut his master company's stake in the Telegraph from 68.3 to 66.4 per cent, creating the amount of liquidity required by the membership rules.

Last month the company announced a 49 per cent increase in pre-tax profits for the first nine months of the year, providing a strong platform for its shares in 1994.

THE reorganisation of Wills Group, the fluid-handling equipment maker, is on the way to paying off after a pounds 5.2m cash injection through a rights issue last February.

Although profits for the half-year ending this month will be little more than pounds 500,000 ( pounds 300,000 last time), by the June year end there should be a near-doubling to more than pounds 3m.

Although the group is heavily dependent on continental Europe, the shares have risen steadily since their 1991 low. At their current 26p, they are poised to reward the patient nursing of the managing director, John Huckle.

Suggested Topics
John Travolta is a qualified airline captain and employed the pilot with his company, Alto
people'That was the lowest I’d ever felt'
Life and Style
healthIt isn’t greasy. It doesn’t smell. And moreover, it costs nothing
peopleThe report and photo dedicated to the actress’s decolletage has, unsurprisingly, provoked anger
Home body: Badger stays safe indoors
The programme sees four specialists creating what they believe are three perfect couples, based on scientific matchmaking. The couples will not meet until they walk down the aisle together
tvUK wedding show jilted
Arts and Entertainment
US pop diva Jennifer Lopez sang “Happy Birthday” to Gurbanguly Berdimuhamedow, president of Turkmenistan
musicCorporate gigs become key source of musicians' income
Arts and Entertainment
You've been framed: Henri Matisse's colourful cut-outs at Tate Modern
artWhat makes a smash-hit art show
ebooksAn unforgettable anthology of contemporary reportage
Arts and Entertainment
While many films were released, few managed to match the success of James Bond blockbuster 'Skyfall'
filmsDaniel Craig believed to be donning skis as 007 for first time
Mikel Arteta pictured during Borussia Dortmund vs Arsenal
champions league
Yes supporters gather outside the Usher Hall, which is hosting a Night for Scotland in Edinburgh
voicesBen Judah: Is there a third option for England and Scotland that keeps everyone happy?
Arts and Entertainment
Pulp-fiction lover: Jarvis Cocker
booksJarvis Cocker on Richard Brautigan
Arts and Entertainment
Robin Thicke and Pharell Williams in the video of the song, which has been accused of justifying rape
music...and he had 'almost no part' in writing it
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Sales Executive

£20 - 24k (Uncapped Commission - £35k Year 1 OTE): Guru Careers: We are seekin...

Payroll & Accounts Assistant

£20 - 24k + Benefits: Guru Careers: This is a great opportunity for an enthusi...

SQL Developer - Watford/NW London - £280 - £320 p/d - 6 months

£280 - £320 per day: Ashdown Group: The Ashdown Group have been engaged by a l...

Senior BA - Insurance **URGENT**

£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...

Day In a Page

Mystery of the Ground Zero wedding photo

A shot in the dark

Mystery of the wedding photo from Ground Zero
His life, the universe and everything

His life, the universe and everything

New biography sheds light on comic genius of Douglas Adams
Save us from small screen superheroes

Save us from small screen superheroes

Shows like Agents of S.H.I.E.L.D are little more than marketing tools
Reach for the skies

Reach for the skies

From pools to football pitches, rooftop living is looking up
These are the 12 best hotel spas in the UK

12 best hotel spas in the UK

Some hotels go all out on facilities; others stand out for the sheer quality of treatments
These Iranian-controlled Shia militias used to specialise in killing American soldiers. Now they are fighting Isis, backed up by US airstrikes

Widespread fear of Isis is producing strange bedfellows

Iranian-controlled Shia militias that used to kill American soldiers are now fighting Isis, helped by US airstrikes
Topshop goes part Athena poster, part last spring Prada

Topshop goes part Athena poster, part last spring Prada

Shoppers don't come to Topshop for the unique
How to make a Lego masterpiece

How to make a Lego masterpiece

Toy breaks out of the nursery and heads for the gallery
Meet the ‘Endies’ – city dwellers who are too poor to have fun

Meet the ‘Endies’ – city dwellers who are too poor to have fun

Urbanites are cursed with an acronym pointing to Employed but No Disposable Income or Savings
Paisley’s decision to make peace with IRA enemies might remind the Arabs of Sadat

Ian Paisley’s decision to make peace with his IRA enemies

His Save Ulster from Sodomy campaign would surely have been supported by many a Sunni imam
'She was a singer, a superstar, an addict, but to me, her mother, she is simply Amy'

'She was a singer, a superstar, an addict, but to me, her mother, she is simply Amy'

Exclusive extract from Janis Winehouse's poignant new memoir
Is this the role to win Cumberbatch an Oscar?

Is this the role to win Cumberbatch an Oscar?

The Imitation Game, film review
England and Roy Hodgson take a joint step towards redemption in Basel

England and Hodgson take a joint step towards redemption

Welbeck double puts England on the road to Euro 2016
Relatives fight over Vivian Maier’s rare photos

Relatives fight over Vivian Maier’s rare photos

Pictures removed from public view as courts decide ownership
‘Fashion has to be fun. It’s a big business, not a cure for cancer’

‘Fashion has to be fun. It’s a big business, not a cure for cancer’

Donatella Versace at New York Fashion Week