I have been wholly uninspired by Trainline (TRN) shares since the IPO from the “leading independent rail and coach travel platform” back in 2019. The stock has been a bit of a dog over the last four years, although it is little changed from my grumpy update on it earlier this year in May. Is Trainline still an avoid for me?

Previously writing on company which describes itself as “a leading provider of productivity software for professional and financial services” GetBusy plc (GETB), in December with the shares up to 62p I concluded that I’d want more cash flow and balance sheet comfort. The shares most recently closed at 79p, but what of them currently falling back well below 70p on the back of half-year results?

Previously writing on semiconductor company Sondrel (SND), early last month with the shares recovering to above 65p I questioned how much confidence to have in the forecasts and concluded it prudent to continue to Avoid. The shares most recently closed at 56p and today a “Trading Update and Notice of Results” announcement…

Back in April, I observed tatDeliveroo (ROO) is “still hoping you will spend your money” with it. The good news for it from today’s first half numbers is that revenue is up 5% year-on-year and its adjusted EBITDA is now positive. The less good news is that it is still making a loss and generating a negative free cash flow.

Previously writing on innovation management software and services company Sopheon (SPE), in January with the shares up to 680p I concluded cautiously considering the valuation and cash flows. What now following a further trading update and the shares currently at 620p?

A year ago when I called Moonpig Group (MOON) “Moonpig dot Covid-19”, the shares were trading at over two quid. Today, despite an over 15% romp after a trading update that in reality has more questions than answers, the share price is just below 135p. In short, the (apparently) ”leading online greeting cards and gifting platform” remains a dog.

Previously writing on regenerative medical device group Tissue Regenix (TRX), I noted argues distribution agreement ‘delight’. How’s that balance sheet now?. The group has now announced results for the 2022 calendar year, arguing they with it “having delivered on its strategy for growth whilst achieving strong commercial traction”. What does that actually mean financially though?

I have pretty much had the same view on Deliveroo (ROO) shares since its comedy IPO in 2021: by all means have a Deliveroo delivery a couple of times a year, but don’t buy the shares! I last said that in August when the shares were just below a one quid price and, despite lower bond yields and better larger cap markets since, the stock is still about the same price today. And you will not be surprised to know that today’s update is still banging on about how the online food delivery company will be profitable…at some point later this decade!

Previously writing on Time Out Group (TMO), in August I noted short-term loan facility, how’s that balance sheet set then?. Today the “global media and hospitality business” has announced results for its year ended 30th June 2022, headlined “Positioned for further profitable growth and back on pre-pandemic trajectory”. Is it?

A trading update from Pod Point Group (PODP) early this year commenced by describing the group as “one of the UK's market leading providers of Electric Vehicle charging solutions”, another such update today commences that “The long-term market for Plug-In-vehicles continues to be attractive as the industry grows towards electrification in the UK by 2030”. Good news then?

Previously writing on arts and crafts, stationery, toys and books retailer TheWorks (WRKS), in September with the shares at 37.75p I reviewed emphasises “strong” full-year results, but is the company right to be ‘confident in its prospects’?. So what now with the shares most recently closing at 34.5p and currently further lower on the back of a “Half-Year Trading Update”?

Personalised products marketplace group Altitude (ALT) has issued a trading update including that it “is pleased to report the group has delivered another excellent period of growth… well placed for accelerated future growth, the board remains confident in its positive outlook for the future”. What of a current approaching 5% higher share price response to 22.5p?

Previously writing on cyber network security company Corero (CNS), last month with the shares at 10.5p I concluded that the bottom-line outlook and half-year financials saw me continue to avoid. The shares last closed at 11.25p but are currently back at 10.5p on a trading update, so what’s the latest?

Previously writing on Fulcrum Utility Services (FCRM) in May with the shares at 7.3p, despite it stating that its “core multi-utility contracting business has remained relatively unaffected by… the UK energy market has continued to experience considerable turbulence”, I concluded that I’d want some clear evidence of an overall turnaround before considering a positive stance. Today a further trading update.

I probably use the delivery services of Just Eat Takeaway.com (JET) about once a year, as a bit of a family treat. And, so far, it has done a pretty good job, but you certainly could not describe it as good value or as absolutely necessary. Meanwhile in share ownership land, I have never regarded the stock as even being of moderate interest. Whilst it is up about 1% today following the publication of its Q3 2022 trading update, a more relevant move is the c. 80% fall during the last year.

Service provider to the asset management industry specialising in private markets, MJ Hudson Group (MJH) has announced expected “audit adjustments”, though also that those “are all non-cash in nature and do not have an impact on the operating performance of the group in the current year… Current trading in FY 23 is encouraging”. So what of a currently approaching 30% lower share price to 16.5p?

Previously writing on automation and customer engagement software company Netcall (NET), a year ago with the shares around 80p I suggested the valuation looked to at least demand near perfect delivery of vast new growth opportunities. With now results for its year ended 30th June 2022, how’s it doing?

Shares in ‘digital transformation’ business TPXimpact (TPX), formerly Panoply, were above 100p until late last week. They are currently down at 32.5p, so what’s going on?

Provider of technology and services to the rail, traffic data and wider transport industries Tracsis (TRCS) states that it is “pleased to provide” a trading update for its year ended 31st July 2022, with “group revenue is expected to have increased to c.£69.0m (2021: £50.2m)… expects adjusted EBITDA to be ahead of market expectations”. So what of a current approaching 4% higher share price response to 1050p?

Provider of software and services to the publishing industry, Ingenta (ING) commences a trading update with that it “is pleased to confirm that trading in the six-month period to 30 June 2022 has shown a return to revenue growth” and the shares have currently responded up to 90.5p. However revenue is vanity, so what about the valuation?

I noted a couple of months ago on Trainline (TRN) that the stock was a “distinct Avoid for me…in a year’s time it might announce a full year 2023 profit but it would not surprise me if the share is once again c. two quid and not the current c. three quid share price by then”. Why then are Trainline shares up over 15% today?

Industrial communications products company Filtronic (FTC) is “pleased to report top line growth and that adjusted EBITDA is set to exceed market expectations despite the challenges of the global semiconductor shortage. This strong trading performance will enable us to continue to make strategic investments in the future of the business”. So what of a share price currently up 25%, above 11p?...

On Monday ready meals group Parsley Box (MEAL) announced sellout of 4,000 Platinum Jubilee-targeted hampers, with CEO Kevin Dorren “delighted to be working with so many highly regarded brands” on them. However, there were no financials included and today a “Trading Update”, and the shares down to 17.5p, a £12.7 million market cap.

A bit over six months ago I observed that there were “so many reasons to keep on avoiding The Hut Group”, which we now know as THG (THG). Since I wrote then the shares have continued post IPO shocking performance and today sit at a circa one quid share price, having been over four quid back in October (and having had an original IPO price of 500p a year before that). So is there an opportunity to buy now or is the smartest view to keep on avoiding?

Consumer goods distributor and brand owner Supreme plc (SUP) has issued a trading update emphasising “driving organic growth across its core categories, completing two strategic acquisitions financed by free cash and establishing product traction with leading UK grocery customers”. So why a current share price of 155p, down more than 18% in response?...

Products for parents and young children franchising company Mothercare (MTC) has announced an update for its year ended 26th March 2022 including “adjusted EBITDA of £11.5 to £12 million for FY22, ahead of analysts’ expectations” and “encouraging initial feedback from recent focus on product quality and design”. So why have the shares currently responded approaching 8% lower to 10p?...

Ten Lifestyle (TENG) describes itself as a “leading technology-enabled, global concierge platform for the world’s wealthy and mass affluent” . It is also a great believer in talking about adjusted EBITDA, aka bullshit earnings, begging the question of whether it wants to fool investors or itself. Today it blames Omicron for a “profits” warning.

Maternity and nursing wear group Seraphine (BUMP) has announced a trading update commencing that it “has experienced strong sales growth in the 17 weeks to 30th January 2022 of 45%” and including that it expects full-year adjusted EBITDA of circa £4.5 million. With adjusted EBITDA being manipulated bullshit earnings, that doesn’t sound a lot considering a start of day market cap of more than £100 million…

‘Self-care’ products group Venture Life (VLG) has made a trading statement and the shares have currently responded to around 50p, 34% higher, on the back of it. Is this justified?…

AIM-listed Yu Group (YU.) has updated the market with a full year trading update for 2021, claiming a very strong performance for FY21, significantly ahead of market expectations….FY21 revenues, profitability….have all extensively exceeded management forecasts. So the coffers are burgeoning with cash, then? Er…..

Marketing and communications data technology company Access Intelligence (ACC) has made a trading update headlined “Year to 30 November 2021: a transformative year”. That sounds positive… but the current share price response is to 116.5p, more than 23.5% lower! So what’s the story?…

Previously writing on “mobile-first digital media business, which owns Entertainment Daily, The Daily Mash and The Tab” Digitalbox (DBOX), last month on the shares rising towards 10p on the back of a trading update I asked what about the bottom-line? Today a further trading update following the end of the company’s (calendar) year, so some further insight?…

Previously writing on electronic invoicing and purchase order transactions network business Tungsten Corp (TUNG), earlier this month with the shares up to well above 30p I cautioned including with prior results having shown still cash burn, with net cash down to £2.1 million and a customer loss. Now further news, including half-year results and the shares currently back down below 30p…

Cyber Security services group Falanx (FLX) has announced results for its half-year ended 30th September 2021 and “good trading so far in the second half of the year”. So what of a currently just slightly up 1.275p share price?…

Marketing technology group Eagle Eye Solutions (EYE) has announced “revenue growth of 35% in Q1 versus the prior year, an increase from the Q4 FY21 growth of 27%. As a result, the board now expects adjusted EBITDA for the full year ending 30 June 2022 to be comfortably ahead of management expectations”… and the shares have currently responded circa 5% higher towards 600p. How does the valuation look?…

Year ended 30th June 2021 results from automation and customer engagement software company Netcall (NET) emphasise “growing cloud business is delivering enhanced profitability and revenue visibility which, combined with our product innovation, produces new growth opportunities”. The shares though closed last month at 88p, yesterday at 85.5p and are currently heading towards 80p. What’s the value situation?…

Previously writing on online electricals retailer AO World (AO.), in April with the shares at 323p I wrote a lockdown winner… but now to be a share price loser?, concluding with also demand concerns as lockdown measures are eased and economic realities start to bite, at anywhere around the current valuation I’d still sell. The shares last closed at 217.4p and today a “Trading Statement” – and the shares currently more than 20% further lower!

Formerly SimplyBiz Group, provider of technology and support services to the UK Retail Financial Services sector Fintel (FNTL) has announced results for the first half of 2021 and emphasised “significant financial resources to match our ambitions for the business, both in terms of accelerating organic growth and creating value through acquisitions”. What of the valuation, with the shares little changed at around 235p?…

Ten Lifestyle Group (TENG) “is pleased to announce a trading update ahead of its preliminary results for the year ended 31 August 2021”, with the announcement including that recent activity across many of its core service categories and supplier revenue has recovered to levels above the same period in 2019. The shares are though slightly down to 105p, and comparing to end-2019 134p, so is there value?…

I reckon that Deliveroo (ROO) has delivered to my home once.  It was okay but – in my view – a bit of a rip off, but it was something a bit different for the family to try.  As for Deliveroo shares I have never owned them, regarding the IPO a few months ago as being at a bonkers price.  Since the share price low of early April, the stock has pushed up but if you did participate in the IPO in March, then you are still losing money. Last month here I wrote some thoughts on its ‘progress’ but observed that I was still avoiding the shares as ‘the underlying reality answer we all need to figure out is where profitability is going to be in full year 2021 and 2022’.  That’s the trouble with a company where the mention of ‘gross profit’ means that it is all going to be comedy EBITDA centred (at best).

Self-styled “a leading provider of digital financial management products and software solutions”, Tungsten Corp (TUNG) has announced results for its year ended 30th April 2021 including emphasising “adjusted EBITDA has increased from £2.7 million to £3.6 million” and “an increase in transaction volumes over the Network as we entered the new financial year, and it’s pleasing to see that our year to date transactions are up 10% versus the prior year”. Why then are the shares unchanged at 38p compared to above 40p as recently as last month and also a year ago?

Previously writing on geospatial software group IQGeo (IQG), in January with the shares rising above 100p I concluded, with what needed to even reach forecasts and the valuation already, I continued to avoid. What now following it “pleased to announce an update… following the close of the company’s first half ended 30 June 2021”?…

There are two ways of viewing IQE plc (IQE). One, mine, is correct. The other, as pushed by the share promoters, the numerous corporate brokers and financiers who see its constant demands for fresh debt and equity as something of a gravy train, is not. Let’s start with those who are wrong.

AIM-listed alternative energy supplier Yu Group (YU.) has updated the market this morning with a trading statement for the half-year to June. We are told of strong growth in bookings ad revenue with confidence in delivering profitable growth, but whilst cash balances are broadly flat (ie a little down) over the period there is again no discussion of net current assets. So is it just more of the same?

Self-styled “operator of a leading marketplace for the global promotional products industry” Altitude Group (ALT) “is pleased to report that the group continues to trade positively” – and the shares have currently responded back above 40p, 9% higher. However, what does its “positively” actually mean?…

Previously writing on Brave Bison Group (BBSN), a couple of years ago I concluded negatively with the shares down towards 1.5p as it was gouged by Facebook’s new policies & no warning at the time (why not?!). Today an “AGM Statement” sees the shares currently approaching 8% higher on the day. So what’s the story now?…

Infection and prevention control products company Byotrol (BYOT) “is pleased to announce an update on trading” – and the shares have currently responded more than 14% higher to 7p. What’s the story?…

Sopheon (SPE), “the international provider of software, expertise, and best practices for Enterprise Innovation Performance, is pleased to announce its results for the year ended 31 December 2020”… but, already down from 980p late last month, the shares are currently further lower from a last close 895p…

Previously writing on Gulf Marine Services (GMS), in November with the shares at 7.9p I concluded negatively with its debt mountain and uncertainty. The shares last closed at 5.85p but are currently above 7p on the back of news that the company emphasises represents “A New Dawn”…

Self-styled “the leading global provider of mission critical software-as-a-service platforms and on-demand cloud services to the flexible workspace industry”, essensys (ESYS) has made a trading update emphasising “a robust performance in the first half of the year… results in line with expectations” and “increasing market opportunity”. The shares have responded further higher to 212.5p, so what’s the detail?…

AIM-listed alternative energy provider Yu Group (YU.) updated the market this morning with a trading update which reads extremely positively. The shares are up by a very impressive 40%, but something was missing in this morning’s release. Will investors piling in this morning come to regret it?

A trading update from retail management, payment and loyalty systems group Universe (UNG) includes “revenue for the second half of the year is expected to be in line with that of the first half… the company still expects to report a modest level of adjusted EBITDA profitability for the full year” and that it “has a strong financial position”. So why an approaching 12% share price fall, to 3.75p, on the back of the update?…

Tungsten Corp (TUNG) has announced results for its half year ended 31st October 2020. Do they support it being, self-styled, “a leading global electronic invoicing and purchase order transactions network”?…

Cyber security group ECSC (ECSC) “is pleased to announce an update on trading” – and the shares are currently approaching 4% higher at 70p…

Self-styled “a global leader in the growing escape rooms sector”, Escape Hunt (ESC) “is pleased to announce its interim results for the six months ended 30 June 2020”. The shares are currently at 8.5p, down from above 50p as recently as July last year…

Ten Lifestyle Group (TENG) has updated including that it “expects to report Net Revenue that is slightly ahead of market expectations of £43.3m… Adjusted EBITDA profit is expected to be slightly ahead of market expectations of £4.5m”. However, already down from a start of 2020 134p, the shares are currently slightly further lower at 82p…

Previously writing on cyber security group ECSC (ECSC), last year with the shares having fallen from above 77.5p to 67.5p I questioned “a solid base for ongoing growth” and concluded to avoid. Now a trading update for the first half of 2020 emphasising “Continued strong growth in recurring managed services revenues” and the shares at 65p, though that being up 4% on the update…

Last night, at no-one-is-watching o’clock (four minutes to six pm) it was announced that Mr Samuel Dayani, a NED at AIM-listed CentralNic Group (CNIC) has been dumping shares – the best part of £155,000 worth. We are told that he still has a boat-load of the stock (11.36% of the shares) but nonetheless that’s quite a bit of cash especially when the company has recently done a 'Capital Markets event' and seen paid-for researcher Edison produce a gushing note last month. Goodness me, that was good timing!...

Previously writing on capital markets risk management technology-focused KRM22 (KRM), with the shares above 50p I questioned a trading update and a director share acquisition providing confidence. Now an equity fundraising announcement...

You cannot say that you were not warned here on ShareProphets, this time by the excellent Steve Moore who described AIM-listed Bagir Group (BAGR) as a avoid/sell HERE; this morning the shares were suspended as a significant proportion of the Company’s previous order book is now on hold or cancelled and the company takes insolvency advice whilst it scratches around for additional funding and the business is no longer regarded as a going concern. In short, it is bust.

A “Trading Update for the Nine Months to 31 Jan 2020” from Tungsten (TUNG) which includes “revenues remain in line with our YTD Q3-FY20 expectations” and “our transformation to a sustainably profitable e-invoicing enterprise remains firmly on track”. The shares though remain below 34p – having been approaching 40p last month…

Having updated early last month, today branded hostels company Safestay (SSTY) makes another “Trading Statement”. The early February one included “performance in the first month of 2020 and forward bookings for Q1 are very encouraging, a positive signal for the coming year, which will also benefit from the acquisitions made last year”. Now…

Previously writing on agent-backed property portal company OnTheMarket (OTMP), in October with the shares at 83.5p I concluded so it’s a ‘supplemented offering’ as a result of conditions deteriorating, with the company’s cash already squeezing and brand awareness important for growth. There’s dilution as “we continue to convert agents to full-tariff, long-term contracts with share issuance” but I suggest there could also be much more dilution required not too far down the line due to the financial position. Thus, in all, certainly not one I’d want to own currently. Today a “Directorate Change and Trading Update” announcement including a “pleased to provide” update on trading – so positive then? Er…

‘Travel and lifestyle service’ group Ten Lifestyle (TENG) has updated commencing “adjusted EBITDA is expected to be breakeven, in line with the board's expectations and a significant improvement on adjusted EBITDA loss of £2.5m in H1 FY19, with continuing improvements in operating cost efficiencies”… the shares, having already fallen from approaching 130p last month, have currently responded towards 78p – a further approaching 6% lower…

Having been heading back up, towards 100p, in early January, shares in Boku Inc (BOKU) recently fell below 60p but are currently back on the rise today on the back of an update including on Coronavirus impact on trading; “the recent growth we have seen in those countries that are most affected has been higher than in those where the virus has had a more limited impact so far”…

Self-styled “multichannel marketing hub software specialist” Pelatro (PTRO) has updated on 2019 that it “expects to report revenue and adjusted EBITDA for the year in line with its expectations” and that it “continues to show strong commercial momentum, evidenced by recent contract wins, and now has 19 customers with fully operational software, of which 5 were won in 2019… The group's pipeline remains strong at about $16m of which about $6m is from existing customers”. The shares have currently responded to 67.5p, 9% higher…

Previously writing on Netcall (NET), I questioned argues “board confidence in the ongoing success”… but how confident can it really be?. Today a “Trading Update” – and the shares currently more than 10% lower on the back of it…

Estate agency business which argues it “combines highly experienced and professional Local Property Experts and innovative technology”, Purplebricks (PURP) has announced results for its half-year ended 31st October 2019 – on election day. Hmmm…

A “Full year trading update” from Access Intelligence (ACC) includes “excluding the Pulsar acquisition, Adjusted EBITDA is expected to be in the order of £1.1m, in line with market expectations” and “the acquisition of Pulsar, which has expanded Access Intelligence's capabilities in social media analysis, audience segmentation and social media marketing evaluation, is very exciting and integration is progressing well”. The shares have currently responded to 47p... er, more than 12% lower!...

UK and Europe online electrical retailer AO World (AO.) has announced results for its half-year ended 30th September 2019, emphasising “pleased with the operational progress that we have made in this period… on track with our plans for sustainable growth” – and the shares have currently responded higher, towards 65p…

Previously writing on self-styled “leading commercial kitchen services provider” Filta Group (FLTA), in August last year with the shares at circa 230p I concluded precious little Benjamin Graham ‘margin of safety’ (“for absorbing the effect of miscalculations or worse than average luck”). Possibly one for the watchlist for a better entry level, but currently, with the potential reward v. risk trade-off looking heavily tilted to the latter, one I avoid. Today a “Trading Update”…

Marketing technology platform group dotDigital (DOTD) has announced results for its year ended 30th June 2019 emphasising, “The group is very excited about its financial performance… strong growth in revenue and profit driven by the group's organic growth strategy and the addition of omni-channel functionality”. Sounds promising…

In June Castleton Technology (CTP) argued “another year of significant progress” and “the combination of a healthy pipeline of new business, together with our new development capabilities and our improved organisational structure, give… confidence for the year ahead and… expect that we will show continued progress in both our financial and operational metrics when we next report”. Now is a next report…

Time Out Group (TMO) has announced half-year results from what it argues “has been a transformational period… with the opening of three new food and cultural markets in North America. Combined with the ongoing success of Time Out Market Lisbon, this has driven H1 net revenue growth of 72% for the Time Out Market business”. The shares have though responded little changed at around 128p; how has Woodford got on with this one?…

Tungsten Corp (TUNG) has updated on its quarter ended 31st July 2019 including “revenue grew 5% in comparison to Q1-FY19”, “reflecting revenue growth, ongoing cost containment and collection of receivables written off in prior periods of £0.2 million… adjusted EBITDA increased to £1.0 million from a £(0.1) million adjusted EBITDA loss in Q1-FY19” and “our sales pipeline continues to grow, both by number and value of opportunities”. The shares have though currently responded to 43.5p, slightly lower…

Zoo Digital (ZOO) has updated including arguing “good progress” towards being “a leading next-generation media localisation business that offers a unique combination of software and customer service to the film and TV industry's leading players”. With a current market cap of sub £60 million, sounds good…

Having been heading towards 85p at the start of June, shares in “manufacturer of low maintenance building products, supplying businesses in the Repair, Maintenance and Improvement, new build and social housing sectors” Epwin Group (EPWN) closed yesterday at 72.7p. Today a half-year trading update including “the board anticipates adjusted profit before tax for both H1 and the full year to be in line with market expectations” and “we have made significant strategic progress with new product launches, the continued reshaping of the group's footprint and the acquisition of PVS” – though the shares further lower towards 70p. Hmmm…

‘Social video company’ Brave Bison (BBSN) announced results for the first half of 2019 including “9% increase in revenue to £10.1 million… adjusted EBITDA of £247,000… (H1 2018: £79,000)”. The shares have responded, er, towards 1.5p – approaching 20% lower!…

A “Trading Update” from Netcall (NET) – and the shares currently down more than 9%, at 51.5p, on it. This despite “cloud bookings have continued their strong performance with year over year growth of 160% to £6.5m”, including “public sector customers ordering the group's newly launched Low-code cloud offerings”…

Self-styled developer of “disruptive water saving technologies”, Xeros (XSG) has announced 2018 results headlined “good progress towards licensing model”. Natch, with “disruptive” being bandied about here, Woodford’s also about (39.71% shareholding). “Good progress” then?...

A “New $3.48m USD Contract Award - Asia” announcement from Westminster Group (WSG) – with Chief Executive Peter Fowler “delighted to be able to announce this latest new contract award for large scale screening solutions, which has been secured after a prolonged period of negotiations” and the shares currently higher, towards 9p, in response. Hmmm…

Previously writing on technology services provider to the entertainment industry, Zoo Digital (ZOO) it was in January from November “confident in the prospects” to now “significantly below expectations” – I concluding with the shares heading towards 60p that, despite CEO Stuart Green arguing “we are now enjoying a growth in orders from our largest clients and expect to add significant new accounts during the remainder of the second half”, to continue to avoid. Now a “Year End Trading Update”…

Previously writing on UK and Ireland tool and equipment hire and related services provider HSS Hire (HSS) in November with its shares at 33p, I concluded at least until there’s more concrete evidence of why to have confidence in the sustainability of the balance sheet, I’ll retain this on the bargepole list. Today results for the company’s year ended 29th December 2018 emphasising “we made significant progress against our strategic priorities and delivered the highest adjusted total EBITDA in the group's history” – and the shares are currently just above 35p…

Brave Bison (BBSN) is “delighted” with a deal with The PGA Tour to “include YouTube channel management, digital rights management, and content strategy development”… and the shares have currently responded a further 6.5% higher, to 3.3p…

“Proactis Holdings PLC (PHD), the global spend management and B2B eCommerce solution provider, announces that the group expects to report order intake of £5.8m (2018: £5.5m) of total contract value for the 6-month period ended 31 January 2019 and revenue of approximately £27.7m (2018: £26.4m)”. The shares have responded... currently to around 60p – down more than 45%!...

Digital marketing company XLMedia (XLM) has updated including that it “has identified a number of Publishing growth opportunities in North America… in order to best capitalise on the opportunities available, the board has taken the decision to proactively reduce all the group's non-core, lower margin Media activities”. The shares have responded… er, currently more than 30% lower to below 55p. Hmmm…

It is not, in my view, a great time to be shorting UK names which are sensitive to the underlying market direction as I believe that the UK market, currently suffering from peak uncertainty from Brexit, could see a major re-rating in the event of any solution bar a general election, particularly if there is some sort of fudge of May’s deal which is, I think, the most likely outcome (I am long FTSE 250 not 100 futures to avoid currency considerations). This is not to say that I have downed tools completely on the short side in the UK...

A 2018 trading update from provider of communications, cloud and managed services Maintel (MAI) includes “adjusted EBITDA expected to be at the top end of the range” and “the board remains confident in delivering growth in both revenue and EBITDA for the current financial year to 31 December 2019”. The shares have responded higher to 460p – but this still compares to 650p at the commencement of November…

Eagle Eye Solutions (EYE) has updated on trading including “we are delighted to confirm a strong first half of the year, delivering significant revenue growth and expansion of the customer base, including the addition of Waitrose and Burger King” and “the growth in revenues and volumes is expected to continue into H2”. The shares have not responded excitedly though – currently unchanged at 172.5p…

A “Trading Update” from “provider of temporary physical structures, seating, ice rinks, furniture and interiors”, Arena Events (ARE) includes in its first paragraph; “The group experienced strong revenue growth across the UK, US and Middle East divisions with the acquisitions contributing as expected”. The shares have though responded to the update… currently more than 30% lower on the day, at around 40p! Hmmm…

In June, previously writing on Revolution Bars Group (RBG) I questioned short of expectations in every conceivable weather environment?. Now a Christmas and half-year to 29th December 2018 trading update…

In November 2017, I noted on Accrol (ACRL) bailout fundraising… at half of IPO price of only 17 months ago!. That was at 50p per share – but there was still much worse to follow. The shares had recovered from lows to a recent more than 20p – but that was before today a “Trading Update”…

Online ‘social video’ company Brave Bison (BBSN) “is pleased to provide a trading and operational update”. However, it has previously been ‘pleased’, or indeed “delighted”, in announcement ramparoonies (e.g. HERE). Is it different this time?

I first cautioned on shares in Eagle Eye Solutions (EYE) in February 2016 at over 200p and mostly recently this summer at around 150p. Currently the shares are 127.5p – though that a few percent higher on the day on the back of an AGM update…

Self-styled “a world leader in the design and manufacture of supercapacitors and energy management systems”, CAP-XX (CPX) “is pleased to announce its audited results for the year ended 30 June 2018” - and “with market interest in supercapacitors for a wide range of applications increasing, we are very encouraged by the widening of our licence portfolio and the increase in direct sales opportunities”. The shares have currently responded, er, approaching 15% lower towards 10p! Hmmm…

Footasylum (FOOT) IPO’d on AIM in November at 164p, with CEO Clare Nesbitt stating we “look forward to delivering the significant potential that we see for Footasylum as a quoted business” and “are delighted that our product-led, multi-channel expansion strategy has resonated so strongly with investors”. I though questioned on competition and disposable income challenges, and concluded that the valuation looked too rich. There then followed deviation from the IPO expectations and now a “Trading Statement” update…

I wrote last week on estate agency and property services company Countrywide (CWD) updating including “the adjusted EBITDA for the group for the six months ended 30 June 2018 was slightly better than the guidance previously provided” - and the shares have responded currently higher, back above 50p, but concluded the market cap is still now circa £120 million and with also it to be attempted significant equity fundraising ahoy in far from propitious circumstances, the stance remains avoid / sell. Today half-year results and a “Firm Placing, Placing and Open Offer 2018” announcement – and the shares down towards 17p!...

A trading update for its year ended 30th June 2018 from Eagle Eye Solutions (EYE) is headlined “Breakout year sees delivery of world leading digital loyalty programme for Loblaw”. The shares have responded… er, currently circa 12% lower to around 150p…

Podcasting platform company Audioboom (BOOM) has announced results for its half year ended 31st May 2018, including emphasising “revenue increased by 43% to £2.6 million (H1 2017: £1.8 million)… adjusted EBITDA loss reduced to £2.2 million (H1 2017: £2.6 million)… Fully funded through to expected cash break even”. Hmmm…

Shares in Be Heard (BHRD) are currently the leading fallers today on the back of a trading update. The digital marketing services group though commences that with revenue up to more than £14 million, including 15% like-for-like growth. So what’s the problem?...

On 5th July 2017 it was “GYG, a market leading superyacht painting, supply and maintenance company, is pleased to announce the commencement… of dealings of its ordinary shares on AIM… Placing price 100p, gross proceeds of the placing £6.9 million… Zeus Capital is acting as the company's nominated adviser and broker”. Now a trading update commencing “trading has been significantly weaker than expected”. Uh oh…

A “Capital Structure, Recovery plan & Trading Update” announcement from Countrywide (CWD) – discounted fundraising ahoy to fund changes due to poor trading?...

Previously writing just over a year ago on Revolution Bars (RBG) it was on it going from ‘platform to be confident about our prospects’ to profit warning in less than 3 months. Then heading towards 130p, the shares jumped a couple of months later on a 200p per share possible offer approach. However, an offer was voted down by shareholders and the shares have subsequently fallen back towards 150p before a Trading Update today…

Blue Prism (PRSM), “a global leader in Robotic Process Automation, is pleased to announce a pre-close trading update in respect of the six months ended 30 April 2018”. Ooooh - a more than £1 billion capitalised “global leader” pleased to update, should be good then…

Online electrical retailer AO World (AO.) has updated on its year ended 31st March 2018 – this update with a range of analysts' expectations provided…

Having last week announced a 7.5p per share possible offer for the company, mobile financial services provider Vipera (VIP) is now “pleased to announce a trading update in respect of the year ended 31 December 2017”. Hmmm, only doing this now, almost three months after the year-end? But at least “pleased to announce”, right?...

A Trading update on Thursday from Conviviality (CVR) included that “following a review of current year projections, the company now expects that adjusted EBITDA for the current year will be approximately 20% below current market expectations”, but sought to reassure that “the company has not seen any material weakness in overall demand” and was followed by some director share buying. The shares though remained depressed... and there was then a 1:06pm Update to announcement. There's now a 'Further Update'...

Writing on Accrol Group (ACRL) previously last month, business and management flux saw me remain sceptical. Now a Board Changes announcement…

Time Out Group (TMO) has updated on the 2017 calendar year in an announcement headlined “Time Out delivers strong progress” and including “revenue is expected to have increased by 19% year-on-year on a proforma basis with strong growth across both Time Out Digital and Time Out Market”…

Postal, retail and financial industries point of service software provider Escher Group (ESCH) has updated including “revenue is expected to be marginally ahead of the figure published in the Trading Update on 14 November 2017 and adjusted EBITDA is expected to be in the order of $2.8m”. The shares have responded slightly higher to a current 137.5p, though that compares with 200p exceeded last year…

Point of sale, payment and on-line loyalty systems developer and supplier Universe Group (UNG) was until recently a constituent of the Nifty Fifty portfolio. However, we concluded a couple of months ago to sell now and bank a small gain at 8p due to fears of a profit warning. Today a “Trading Update”…

A 4th December 2015 “Trading update” from Escher Group (ESCH) was a warning that “the group will not now close additional license sales that it had expected in H2”. There was no late-year update in 2016, but this year there’s now a “Trading Update”. Hmmm...

Last week RhythmOne (RTHM) “note(d) the recent weakness in its share price and confirms that it is not aware of any developments since the release of its Trading Update on 17th October 2017 that would change the outlook contained in that statement”. The shares have since continued to fall and there is now a “RhythmOne announces brand consolidation” announcement…

Writing on Biome Technologies (BIOM) following half-year results in September, I concluded with the shares at 230p that the apparent potential may see it considered worth a speculative punt from a £5.4 million market cap, but for me currently this remains on the watchlist. There is now a “Trading Update”…

FreeAgent Holdings (FREE), a provider of cloud-based accounting software and mobile applications designed specifically for UK micro-businesses, “is pleased to report continued strong revenue growth with an evolving channel mix”. The shares have currently responded more than 8% lower, to 83p. Hmmm…

Results for its year ended 31st March 2017 from UK and Europe online electrical retailer AO World (AO.) see its CEO Steve Caunce emphasising “it's been another year of great progress for AO”. Hmmm, why a significant share price decline then, Steve?...

PhotonStar LED Group (PSL) CEO James McKenzie commences his comments on 2016 in the company’s results announcement that “steady progress was made in transitioning the group into becoming a retrofit connected lighting and building management business. We have installed a number of trials in a variety of sectors”. Sounds promising, so why are the shares currently 7.5% lower, at 1.85p, on the back of the announcement?...

RhythmOne (RTHM) has announced results for its year ended 31st March 2017, emphasising “Returns to Full-Year Underlying Profitability led by 28% Growth of ‘Core’ Revenues”. The Income Statement though shows a significant loss and the shares have responded more than 6% lower to 45.5p. Hmmm…

A “Trading update” announcement from NCC Group (NCC) opens with that “the group continues to trade in line with the board's expectations for full year Adjusted EBITDA, as announced on 21 February 2017”. Hmmm, adjusted EBITDA you say and what was that announced on 21st February?...

Lombard Risk Management (LRM) has updated that it anticipates exceeding analyst consensus expectations for its year ended 31st March 2017 and “remains confident” looking ahead. What’s that though expected to be “in the region of £2.4m to £2.8m”? “Adjusted EBITDA”. Hmmm…

The results announcement for its half year ended 31st December 2016 from the former Ten Alps plc, now Zinc Media Group (ZIN), emphasises “decisive action taken” and “for the first time in recent years, the company reported a profit at the adjusted EBITDA level”. So why are the shares more than 9% lower, heading towards 1.20p, on the back of the release?...

A 10am “Trading Update” announcement from Brave Bison Group (BBSN), a company which has previously proven a wrongster. Uh oh…

Back-office workforce optimisation software company eg solutions (EGS) has issued a “Trading Update & Master Services Agreement Signed” announcement. The following updates with the shares presently soaring higher, to a current approaching 50p, in response...

UK and Europe online electrical retailer, AO World (AO.) headlines a trading update for the quarter to 31st December “Continued Growth and Strategic Progress”, though the shares are currently approaching 8% lower, at 170p, in response. Hmmm…

Having previously concluded that shares in ‘smart’ buildings and workspaces-focused RedstoneConnect (REDS) remained on the watchlist at 1.60p, I now note a “Business Update” announcement from the company…

A “Q3 Trading Update” from developer, publisher and licensor of mobile real money and social games, Gaming Realms (GMR) commences with the headline “Strong revenue growth and maiden profitable quarter”. Sounds good, but is the reality such?...

Shares in “SaaS technology company that validates and redeems digital promotions in real-time for the grocery, retail and hospitality industries”, Eagle Eye Solutions (EYE) have recently been on the rise – with recent announcements including a share purchase by CEO Tim Mason and results for the company’s year ended 30th June 2016 including “overall the board is pleased with the significant progress made”. Sounds interesting…

Writing on fresh meat and food-to-go retailer Crawshaw (CRAW) post a profit warning earlier this month, I concluded that the context meant the severe share price decline, to a then circa 44p, looked merited and the shares best avoided – see HERE. The following updates, with the shares currently at sub 35p, on the back of results for the company’s half year ended 31st July 2016…

Having long been bearish, I note shares in online electrical retailer AO World (AO.) are currently more than 10% higher today, at 148p, on the back of an AGM (and first quarter) trading statement. Let’s take a look…

Long-time specialist in draining shareholder money (sorry, “specialist in financial services technology focused on accelerating the digital transformation of banks and financial institutions”), Monitise (MONI) commences the first two bullet points of a trading update with “in line with previous guidance”, though the last includes that it “expects FY 2017 revenue to be lower than FY 2016 as a result of the continuing transition for the business”. Uh oh…

Online electrical retailer AO World (AO.) has announced results including that “the consistent focus we place on delivering amazing customer service along with the investment we have been making in our brand continues to deliver huge benefits to the business” and that “trading in the current financial year has started well”. The shares though are now down 6%, to 157p, on the back of the announcement. Hmmm, let’s take a look...

Internet media company blinkx (BLNX) has updated on “a year of integration and investment” i.e. a year in which financial performance was poor so we’ll claim to have laid the foundations for future growth instead...

Sepura plc (SEPU), which describes itself as “a global leader in the design, manufacture and supply of digital radios, infrastructure and applications… providing specialist solutions for the public safety, transportation, oil and gas, mining, utilities, industrial and other commercial sectors”, has announced a “Trading Update” for its year ended 1st April 2016. The shares are currently down approaching 30%, at around 140p, in response. It’s profit warning (and worse) ahoy! …

Online retailer of major domestic appliances, AO World (AO.) has updated that its “UK business performed strongly during the fourth quarter with revenue and EBITDA ahead of our expectations” and that also “European adjusted EBITDA for the full year will be slightly better than expected”. This has helped the shares currently more than 5% higher to 182p - but wait, they were over 300p little more than a year ago. Hmmm...