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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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SSL

November 2002

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

SSL, 340p (market value: £643m),  the owner of the Scholl andDurex consumer healthcare brands, appears to have put its recentproblems behind it, following a  positively worded tradingstatement on 16 October.  Readers may recall that SSL is the product of  two mergers,first between Seton Healthcare and Scholl in 1998 and then, thefollowing year the enlarged Seton Scholl with LIG, the makers of Durexcondoms.  No one could have been prepared for what happened next. First came the news early in 2001  that the group had "tradeloaded" (a euphemism for giving away) stock to the tune of £63m to itscustomers, which created a one-off loss of £50m.  Then, afternewspaper allegations of faction ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X