Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

AA-rated Cross & Fosh buy into 10% slump in tech business

AA-rated Cross & Fosh buy into 10% slump in tech business

Citywire AA-rated star UK equity duo Anthony Cross (pictured) and Julian Fosh have upped their conviction in decontamination and pharmaceutical services business Bioquell following a near 10% fall in shares.

The two managers increased their holding in the business from 3.99 million to 4.21 million or 10.1% worth £5.35 million at a share price of 127p, down 8.54% over the last month.

The shares are held in their £277 million Liontrust UK Smaller Companies fund.

Bioquell slumped almost 10% in mid-March after the company reported profit for 2013 down 22.5% on the same period of the year before, from £4 million to £3.1 million following a ‘tough year’.

Investec cut its price target following the announcement, from 147p to 133p, rated hold.

The fall, which came despite a 9% increase in revenue, followed £900,000 of restructuring and redundancy charges as the company re-orientated its decontamination division toward life sciences. 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Taxicab Tenner: SW Mitchell Capital's Stuart Mitchell

Taxicab Tenner: SW Mitchell Capital's Stuart Mitchell

In the fifth episode of our new series, SW Mitchell Capital's founder explains why he expects Europe's growth to outpace the US.

Play Inside ETFs: how to defend against bond volatility

Inside ETFs: how to defend against bond volatility

In this latest episode we call in experts from 7IM and Markit to assess how the bond sell-off has impacted ETFs.

Play The future of wealth management according to disruptive tech expert Andrew Tarver

The future of wealth management according to disruptive tech expert Andrew Tarver

Three private office investors direct their questions about the future of wealth management, to Andrew Tarver, founder of Boldrocket and disruptive tech expert.

Wealth Manager on Twitter