20 July 2010 – interim management statement
Shares in Superglass have fallen to 19.5p following the release of a mixed interim management statement. This covered the period from 1 March 2010 to date and also includes an update on the furnace failure, with the furnace expected to be fully operational by the end of August. Broadly speaking the company accepts that trading conditions will be tough in 2010 but is more upbeat about next year and beyond. The shares have reached a level where they could multiply in value over the longer term but now look a risky proposition. We will be following the story closely but for now rank Superglass as a HOLD.