JAMES HALSTEAD –The AIM star still shines brightly!
James Halstead, my star AIM holding of the last few years and a company covered in an earlier Investor’s Champion note on 13th April came out with the ‘usual’ positive trading update this week.
In the company's previous interim announcement on 28th March 2007, the Chairman mentioned that a major plant upgrade was imminent that involved the closure of one of the production lines. The company this week announced that the upgrade to the Polysafe facility was successfully completed (naturally) and full production resumed ahead of schedule (of course it did, James Halstead never disappoints!). Sales also continue to meet expectations.
My concern now is this Queen's Award for Enterprise that they have won. Gongs of this nature are often followed by a decline in share price, however, surely outcomes of this nature only apply to run of the mill businesses and not AIM stars like James Halstead!
In the company's previous interim announcement on 28th March 2007, the Chairman mentioned that a major plant upgrade was imminent that involved the closure of one of the production lines. The company this week announced that the upgrade to the Polysafe facility was successfully completed (naturally) and full production resumed ahead of schedule (of course it did, James Halstead never disappoints!). Sales also continue to meet expectations.
My concern now is this Queen's Award for Enterprise that they have won. Gongs of this nature are often followed by a decline in share price, however, surely outcomes of this nature only apply to run of the mill businesses and not AIM stars like James Halstead!