ELECO (ELCO).

Investors Chronicle, February, 2005

In November, Eleco warned that it was a victim of problems at support services group Jarvis. Delays to the start of a contract to build pre-cast accommodation at Lancaster University will hit 2004-05 interim results. But the long slog to stem losses in the construction software division may be starting to bear fruit. Last year, sales at that division more than doubled to GBP4.51m. Losses of GBP1.1m (up from a loss of GBP535,000 in 2002) included a goodwill write-off of GBP766,000.

The share price may not move much until results in March. Fairly priced.