Investor's Champion Blog
Provides refreshingly forthright, independent comment on predominantly small cap companies and specialist investment funds. Informed opinion, based on first-hand research, but pulls no punches in exposing management weaknesses.

Murgitroyd - could history be repeating itself?

I recently attended a meeting with Murgitroyd, the AIM quoted patent attorney. From a fundamental point of view, this company appears to tick all of the right boxes. Profit before tax is growing year-on-year and has doubled over the past two years through a mix of organic growth (that's refreshing) and acquisitions.

There continues to be strong demand for the group's services with European Patent Office filings up 7% in 2006 and trade mark filings up 20%.

Murgitroyd's share price chart (not something I generally worry too much about!)makes interesting reading. In each of the past 4 years, the stock has rallied sharply in the days and weeks leading up to their results announcement (generally in early September) following a previous period of weakness.

Could history be repeating itself and more importantly does it really matter?

Short term chart issues notwithstanding, AIM's only patent attorney looks quite an interesting investment proposition.


Investor's Champion is a registered trade mark of Investors Champion Ltd.  Investor’s Champion Limited is a company registered in England and Wales under number 03577867 whose registered office is at Langwood House, 63-81 High Street, Rickmansworth, Herts WD3 1EQ. Investor’s Champion Ltd is associated with Fundamental Asset Limited who is authorised and regulated by the Financial Services Authority.