Notes on FTSE-100, Gold, Oil, Epwin Group, Filtronic, AO World, Northern Bear, Costain Group, Zotefoams and SRT Marine

07.08.2025

FTSE-100 heading back into new territory, hopefully helped by a lowering of the Base Rate this morning – is 9300 in sight?

Gold Futures continuing the upwards push since February, slight easing back to $3440.60 after recent $3485.60 peak – the next move could well take it above the $3,500 mark.

Brent Crude just hovering around the $66 level – however with Saudi Arabia’s Aramco posting its 10^th straight fall in quarterly earnings, I feel that it will not be too long before it creates significant pressure to elevate oil prices again.

Epwin Group (LON:EPWN) – this morning’s cash bid shows 160% uplift in price in two years

Having followed this group for years, while extolling its virtues, I have to say that I am both pleased and disappointed that it has now agreed a bid from the Laumann group, worth £167m.

This group is the leading manufacturer of energy-efficient and low-maintenance building products, it has achieved significant market shares, and its main business is in supplying the RMI, new build and social housing sectors.

The shares closed last night at 91p, valuing it at almost £124m – so this morning’s 120p a share cash bid looks just right.

In these markets, I suggest that holders sell immediately and reinvest in the plethora of other opportunities available today.

(Profile 22.08.19 @ 73.5p set a Target Price of 100p*)

(Profile 10.02.23 @ 75p set a Target Price of 94p*)

Filtronic (LON:FTC) – are the shares just lining up for another uplift?

Looking at the mission-critical communication networks space products group’s share price chart suggests that it is just pulling back and absorbing profit-taking after the recent peak of 175p.

Recent finals reported 121% jump in revenues to £56.3m and 294% uplift in pre-tax profits to £13.4m.

Now at 138p they look ready for another surge back up to those levels again, is 200p a share in sight in 2025?

(Profile 04.02.22 @ 11.6p set a Target Price of 14.5p*)

(Profile 04.01.24 @ 21p set a Target Price of 24p*)

(Profile 26.06.24 @ 67p set a Target Price of 80p*)

(Profile 10.02.25 @ 103p set a Target Price of 150p*)

AO World (LON:AO.) – prepare to take advantage of recent fallback

I really like this electricals retail company and its business model.

I believe that the fallback in price over the last few days to 88p gives ample opportunity for growth investors to add more to their holdings.

The question is whether we will have to wait until the group’s next Trading Update at its mid-September AGM.

Buy now while stocks last.

(Profile 17.09.24 @ 108.50p set a Target Price of 136p)

(Profile 18.06.25 @ 100.30p set a Target Price of 120p)

Northern Bear (LON:NTBR) – shares quiet phase offers buying opportunity

In a month or so we should be seeing an AGM Trading Update being issued by this little building services group.

Its shares touched 110p on Monday 21^st July, when over 340,000 shares changed hands, since when they have been backing and filling in low volume trade, easing back to the current 99p.

At this level the group is significantly undervalued, and its shares have the prospect of easily trading the 120p/135p price range in due course.

(Profile 11.07.25 @ 89.50p set a Target Price of 110p*)

Costain Group (LON:COST) – excellent forward edging suggests good news could take them up to 200p

We are just two weeks away from this infrastructure group declaring its Interims Results, on Wednesday 20^th August.

The shares have crept confidently forward to 168.27p, its recent peak, and are now less than a penny below that level.

I now have no doubt that this group’s shares will be up to the 200p level before 2025 is over, if not well above when investors realise just how cheap its shares are now.

(Profile 05.09.19 @ 155p set a Target Price of 250p)

(Profile 02.08.21 @ 55p set a Target Price of 69p*)

(Profile 24.08.23 @ 50p set a Target Price of 62p*)

Zotefoams (LON:ZTF) – bust my Target Price in under a week

This group’s shares were up 15% yesterday, some 49p better, closing at 379p.

Wonderful figures earlier this week helped to significantly drive the stock a great deal higher.

There is still so much more to come – well done Ronan Cox and his team.

(Profile 26.06.19 @ 600p set a Target Price of 750p) 

(Profile 06.03.24 @ 330p set a Target Price of 395p*) 

(Profile 05.08.25 @ 278p set a Target Price of 347p*)

SRT Marine Sysems (LON:SRT) – 150p/200p Trading Range

The shares of this global provider of integrated maritime surveillance and MDA management systems and technologies for security, safety and environmental protection, look very confident currently.

Awaiting the next piece of corporate news, due shortly, its shares are now 86p, just 1p short of their recent 87p All-Time-High.

This stock remains an ongoing ‘gamble’ until its results start to fill in the gap between Hope and Reality.

Even so they have 100p as an easy Target, while my own views see a major advance within the next year or so, possibly taking them well into the 150p/200p trading range.

(Profile 14.09.20 @ 39.50p set a Target Price of 50p*)

(Profile 10.11.23 @ 39.75p set a Target Price of 60p*)

(Profile 25.04.24 @ 22p set a Target Price of 35p*)

Asterisks * denote that Target Prices have been achieved since Profile publication.