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Even a few of our detractors have now come around
It is about eight hundred days since I last wrote about Dunelm Group (DNLM), “the UK's leading homewares retailer”. Back in mid-February 2020 I observed that “I am still not shopping there let alone buying the shares (1000p round number new support level?)”, which is kind of fascinating as the share price today is close to being at the aforementioned 1000p share price level. So what is going on?
Haemodynamic monitoring technologies group Deltex Medical (DEMG) has made a “Pre-close statement”, noting that despite pandemic disruptions for the whole of the year this time, “revenues for the year ended 31 December 2021 were £2.3 million (2020: £2.4 million)” and belief that the backlog in elective surgery “represents a key opportunity for Deltex Medical as the group’s TrueVue Doppler technology can be used to help minimise patient length of stay (and associated costs) following elective surgery and hence increase capacity for hospitals”. With also a ‘next generation’ TrueVue monitor due for release later this year, why a current share price fall to 1.25p?…
Previously writing on self-styled “leading provider of ‘safe distance’ people-screening technology to the international security market” Thruvision (THRU), in April with the shares at 22.4p I concluded whilst there should still be business suitability to the operating environment, with financial performance still to prove, I continue to avoid. Today the group “is pleased to provide an update on trading for the six months ended 30 September 2021” but the shares are again lower towards 20p, so what’s going on?…
Tissue Regenix (TRX) has announced results for the first half of 2021 claiming “we have created a commercially focussed regenerative global medtech company in a high growth sector… encouraged by our strong H1 results” and that we “look forward to this being further built on in H2”. So why are the shares, at 0.675p, currently more than 4% lower?
Collectibles group Scholium (SCHO) has announced results for its year ended 31st March 2021 emphasising “a significant and encouraging increase in online sales across Shapero Rare Books, Modern Prints and Mayfair Philatelics” and that it “is now trading profitably in the first four months of the current year”. So why a current more than 6.5% share price fall to 28.5p?…
Previously writing on industrial and commercial equipment company H C Slingsby (SLNG), in May with the shares at 270p I concluded particularly the concerns on continuing demand and on costs in a “competitive” market (not a good combination!) see me at this juncture only have this on the watchlist – whilst also noting it as a further inflation warning. What of half-year results today?…
Self-styled “a leading innovator in sustainable plant-based polymers used as essential ingredients in everyday consumer products” Itaconix (ITX) “is pleased to provide an update on its commercial progress and current trading”. Why then have the shares currently responded approaching 18% lower?!…
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?…
A “Director/PDMR Share Purchase” announcement from Filtronic (FTC) and the shares are currently 12.5% higher at 9p, capitalising the company at more than £19 million. So a meaningfully positive management purchase?…
‘Fast fashion’ company Quiz (QUIZ) has announced results for it half-year ended 30th September 2020 and that “as at 25 January 2021, the group had £3.0 million of cash and £3.5 million of undrawn bank facilities. This will support the business’s initiatives to further diversify the product range and ensure the group is well positioned to respond to an anticipated increase in demand for its core occasion wear offering in due course”. Will it?…
Shares in long-term Woodford dog, self-styled “a leading innovator in sustainable specialty polymers” Itaconix (ITX) have risen significantly so far this year and the company states it now “is pleased to update the market on a positive year of trading in which the company made substantial commercial and financial progress”. The shares have currently responded towards 5p, a comfortably above £20 million market cap, though 17% lower…
A “Directorate Change”-titled announcement from self-styled “a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets” Directa Plus (DCTA) – and the shares currently at 88.5p, more than 4% lower in response. I guess the change ain’t an exciting new appointment then…
Previously writing on cosmetics company Warpaint London (W7L), in November with the shares at 69p I concluded there does look further recovery potential here. Now I suggest at least worthy of watchlists. The shares last closed at 84p and are currently above 90p on the back of a trading update…
A trading update from Directa Plus (DCTA) includes that the company “finished 2020 with better revenues than expected even at the start of December” – and the shares have currently responded more than 13% higher, above 90p. But revenue is, of course, vanity and the achievement in ‘better than expected’, of course, depends on what the expectations are…
‘Measurement While Drilling’ technologies and equipment company Enteq Upstream (NTQ) has announced results for its half-year ended 30th September 2020 including “the international customer base for Enteq has grown significantly in the last six months, primarily through expanding market share in China… with good further opportunities… has some exciting product release plans which have the potential to change the scale of our business” and “cash balance of $8.8m”. The shares have currently responded to 12p, er approaching 16% lower…
A “wins new sector-leading global OEM customer” announcement from Kromek (KMK), with it “delighted to have secured another leading OEM customer with substantial global operations. This is further validation of the strength of our solutions”. What’s the impact re. a £40.5 million market capitalisation here…
Previously writing on UK automotive retailer Marshall Motor Holdings (MMH), in June, with the shares at 115p, I reviewed a “Trading and COVID-19 Update”’s ‘encouragement’, though concluding that I continued to avoid. Now a further update…
Self-styled “the UK’s leading independent omni-channel vehicle retailer”, Motorpoint Group (MOTR) has updated commencing, “Since the group’s sites reopened from the UK-wide lockdown in early June, demand levels have exceeded management’s expectations with strong year on year sales growth”. On the announcement, the shares are though currently 6.5% lower…
Thruvision (THRU) “is pleased to provide an update on trading for the six months ended 30 September 2020”, including noting “a strong second quarter and, for the first time, has achieved break-even EBITDA for the half year”. The shares have currently responded to above 28p, 5% higher…
Medical, security screening and nuclear markets-focused detection technology group Kromek (KMK) has announced results for its year ended 30th April 2020 including “solid progress was made in the early part of the year with Kromek reporting record H1 2019/2020 revenues” and “business patterns now returning to normal”… and the shares have responded to 8p, more than 20% lower…
Writing earlier this month with the shares then having soared to 47p, I reviewed Surface Transforms (SCE) “truly game changing” contract award. Is it?, & how’s the current financial position?. Now “pleased to announce” results for the first half of 2020…
Former cash-hungry Woodford dog, AIM-listed Eve Sleep (EVE) has released its interims this morning. On the face of it there is plenty to cheer but a deeper look still offers plenty to worry about for shareholders.
“Microsaic Systems plc (MSYS), the developer of point of need mass spectrometry instruments, is pleased to announce its unaudited interim results for the six months ended 30 June 2020 and an update on trading since the period end”. Encouraging then?…
Photonic systems, components and instrumentation for applications in the aerospace & defence, industrial and sciences sectors company Gooch & Housego (GHH) has updated including that its “manufacturing locations in the UK, USA and China are now fully open, thanks to measures that were quickly and efficiently put in place by our site teams, minimising the disruption of the COVID-19 pandemic for our customers whilst keeping our employees safe… Trading levels in June and July reflected the recovery in the company’s manufacturing capacity and some of our larger customers’ manufacturing sites reopening… our order book remains robust”. The shares though are still not much above levels from when I previously wrote on the company in April…
Brick model events and shows group Live Company (LVCG) has announced results, stating “the year ended 31 December 2019, has, once again, been a transformational one for the group” and “whilst the COVID-19 pandemic has meant that many of the 2020 tours have been postponed, we have seen significant inbound enquiry from Business Improvement Districts (BIDs) for the second half of 2020 and expect additional enquiries as BIDs look to increase footfall and support local business recovery”. The shares are though lower, at 13p...
Stanley Gibbons (SGI) has updated including that “all areas of the business remain open and functioning other than the physical shop” and “the coin market has remained quite robust in recent weeks and we have seen evidence of more people showing an interest in both coin and stamp collecting”. However, the shares have currently responded lower, to 2.5p...
A 25th March “Loans from Directors and Grant of Warrants” announcement from remote tracking technology company Starcom (STAR) included that there had “been some delay in the fulfilment of certain orders by the company as a result of international restrictions” but that it “has remained under pressure from customers to fulfil existing orders and continue supply of its products. Since the majority of the company's products are utilised in the movement of cargo rather than people, activity has remained at a high level”. Today an intra-day (12:11pm) “Trading Update”...
Goldplat (GDP) has announced results for its half year ended 31st December 2019 and that “the progress made on key initiatives to increase long term visibility of earnings in the recovery businesses, specifically improved recovery on lower grade contaminated material and strengthened relationships within mining industry, are encouraging”…
Previously writing on mechanical and refractory engineering company Goodwin (GDWN), in July 2018 with the shares at 2300p I concluded if looking for a solid business with exposure to potential oil and gas industry recovery this still looks a good bet. The shares were recently above 3600p, but are currently back below 3000p on the back of half-year results…
Previously writing on homewares group Portmeirion (PMP), in May I noted after less than 2 months ago “we look forward into 2019 with confidence” … a significantly below market expectations profit warning, concluding, with the shares lower towards 900p, and with I also having previously noted from “expect profit before tax to be in line with market expectations for the full year” to “pre-tax profits are expected to be materially below” in less than two months, to avoid. The first ‘Headline’ of its 1st August-announced interims was “First half results are in line with our expectations set out in the 14 May 2019 trading update and we anticipate achieving full year expectations” – and now a “Trading Update”…
Musical instruments and equipment online retailer Gear4music (G4M) has announced results for its half year ended 30th September 2019, emphasising “we have delivered on our stated priority of materially improving gross margins” yet “revenue increased by £6.9m (16%) during the period to £49.4m” and “we are confident ahead of our peak trading period that the group is well-placed to deliver EBITDA for the full year in line with the board's expectations”. The shares have though currently responded to around 215p – more than 10% lower!...
An intra-day (rarely a good sign) announcement from wind turbines “light detection and ranging optimisation systems” company Windar Photonics (WPHO); “Auditor Resignation” (again rarely a good sign!)…
Developer and manufacturer of carbon ceramic brakes products Surface Transforms (SCE) has announced results for its year ended 31st May 2019, emphasising “the past 15 months, and more particularly the three-month period of contract awards since 31 May 2019, have been transformational in the development of Surface Transforms. The company now has multi-year, multi million revenue contracts”. Sounds good – but the shares are currently little changed at still sub 20p…
Earlier this week I cautioned on ProPhotonix (PPIX), new laser diode ‘delight’, but it’s an RNS Reach having questioned its financial strength. Now first half of 2019 results – and the shares currently at 2.25p, approaching 30% lower…
Holders Technology (HDT) has announced results for its half year ended 31st May 2019, including “PCB operations remain profitable, and management has recently implemented targeted cost savings to further improve profitability. The LCS divisions have achieved good growth and a modest profit in the first half, and the pipeline of sales opportunities is encouraging, with the acceptance in the market of wireless lighting controls”. The shares have currently responded to 40p – er, more than 11% lower…
Remote wireless technology company Starcom (STAR) has announced results for the first half of 2019 including “initial orders for the new Lokies smart padlock are encouraging and we have high expectations for this new product” and that it “is confident that the full year results will be in line with current market expectations in terms of revenue growth and that the company will achieve a positive EBITDA result for the year”. The shares have responded… further lower, to 1.1p…
Previously writing on self-styled “global leader in sustainable LED lighting for industrial applications” Dialight (DIA), early last month I noted argues recovery plans “progress” & “increasingly well positioned”… Er, what about the profit warning? with the shares then down to circa 350p. They have recently been headed back towards 400p, but now results for the first half of 2019…
Towards the end of June I concluded on commercial floor coverings company Airea (AIEA), 55p, capitalising the company at circa £23 million… suggests potential value… but the apparent pace of the current decline concerns. Half year results are scheduled for 2nd August but, ahead of any more insight there, currently I’d sell / avoid. We now have the results – and the shares are currently down towards 40p in response…
Previously writing on “leading smart home solutions provider” LightwaveRF (LWRF), in April I concluded with the shares back above 8p that I continued to avoid. Today a “European distributor order” announcement including CEO Jason Elliott emphasising “it is incredibly encouraging to see one of our newer partnerships, which is directed to developing our European markets, making such strong early progress with this sizeable first order”…
Models and collectibles group Hornby (HRN) has announced results for its year ended 31st March 2019, “pleased to report to our shareholders in an exciting but challenging period for our company”…
Avanti Communications (AVN) has announced results, with CEO Kyle Whitehill emphasising “we can look forward to a positive future. We have an enviable network of assets, demand in our coverage is growing and the actions taken in the last 12 months to re-focus the business and to bring in new commercial talent to the executive team should bring rewards in the near term”. The shares have responded… er, by remaining down at 1.625p…
Previously writing on Gooch & Housego (GHH), in April I stated announces “in line with management's expectations”… but not with expectations less than 6 weeks before the period-end!. On half-year results, the shares are though further materially lower today…
“MySale Group plc (AIM: MYSL), the leading international online retailer, today announces that the transaction to sell the trade and assets of the website cocosa.co.uk… has now been completed… With this disposal complete we can accelerate our 'ANZ First' strategy, which leverages our market position in the region”. What about “leading international online retailer” though? And why, with a deal agreement announced earlier this month and the shares already down from a 226p per share June 2014 AIM IPO and approaching 40p as recently as December, now a further 10% decline to just 11p?...
CEO of self-styled “leading smart home solutions provider” LightwaveRF (LWRF), Jason Elliott, is “delighted that Lightwave has maintained the momentum of significantly improved revenue in the quarter” – and the shares have currently responded back above 8p, 10% higher…
Writing in November on LED systems and laser diode modules designer and manufacturer ProPhotonix (PPIX), I concluded the new products recently introduced taking longer than anticipated to gain traction don’t exactly inspire confidence in this jam tomorrow, and the shares are currently 25% lower in response, to 4.5p, capitalising the company at a bit over £4 million. With also the balance sheet position, still a sell. Now, with the shares at 3.6p, the 2018 results announcement…
Announcing a £54 million equity raise at 15p per share towards the end of January, Low & Bonar (LWB) emphasised “a number of key strategic initiatives to drive sustainable improvement in the group's performance and financial position were implemented during Financial Year 2018. Progress has been made in all of these areas… Further initiatives will be implemented during Financial Year 2019 and the board is confident that these actions will build a stronger business and one capable of delivering sustainable growth and attractive, sustainable returns”. Today a “Trading Update”…
Online retailer MySale (MYSL) has announced results for its half-year ended 31st December 2018, including CEO Carl Jackson stating “performance during the first half was disappointing, however we took immediate action to address the issues the group faced”. Already down from 35p before December-announced own goals, the shares are though currently materially further lower today – at around 12p…
Late November-announced half-year results saw Joe Grimmond, Chairman of “specialist in the design, manufacture and supply of plastic products” Coral Products (CRU), emphasise “delighted with the performance of the business in the first half… I am pleased to report that results to date are well ahead of the same period last year and that, in spite of the prevailing uncertainties of Brexit we remain confident of the groups future prospects”. And less than two weeks ago CEO Mick Wood was emphasising “it is an exciting time at Coral… we are proud to introduce a bespoke recycling unit into our business… confident that this recycling unit will help propel our business forward”. No worries for a trading update today then…
Provider of wireless solutions for remote tracking, monitoring and protection, Starcom (STAR) is “pleased to see WIMC indicating satisfaction with Tetis and planning for larger potential orders” – and its shares have currently responded slightly higher, to 1.275p…
Inkjet printing technology company Xaar (XAR) has announced 2018 results including “we are confident that the transformation we are undergoing will lead us to become a more diversified and customer-centric organisation, with an appropriate balance between established and developing technologies. We remain focused on delivering the benefits of our strong portfolio and technology advantages to shareholders”. The shares have responded, er… further lower, below 115p…
Surface Transforms (SCE) has updated including “we are pleased that current shareholders continued to support our strategy to become a series production supplier of carbon ceramic brake discs to the large volume original equipment manufacturer automotive market. We look forward to the future with confidence”. This from a “£1.9 million placing” announcement…
Previously writing on automotive sector acoustic and thermal insulation group Autins (AUTG) in October, it was with the shares falling further from the mid 30p’s; “many opportunities to grow and diversify” - why the ‘cost base steps’ then?. The shares are currently again lower to 20p on the back of “pleased to announce” full-year results. Hmmm…
Its latest results statement commences “CAP-XX (CPX)… a world leader in the design and manufacture of thin, flat supercapacitors and energy management systems, is pleased to announce its interim results for the half-year ended 31 December 2018”. The shares have though responded currently more than 7% lower, to around 7p…
Previously writing on online musical instruments and equipment retailer Gear4music (G4M) in September as the shares slid below 600p, I concluded such a rating demands at least growth as anticipated; not “slower than anticipated” roll-out, “gross margin compromise” and potentially worse – and, even without all that, is still likely highly dependent on a continued bullish stock market. As such, at this juncture, I avoid. The shares are currently sliding below 300p on the back of a “Trading Update”…
LightwaveRF (LWRF) has announced results for its year ended 30th September 2018, including Chairman Barry Gamble stating “your company continues to make considerable progress on a number of fronts. Excellent product endorsements, such as being described as ‘the best UK (Apple) Homekit solution for smart lighting’, amply demonstrate our proven technology, even as the company presses ahead with further developments and more international variants”. So why do the shares remain depressed, below 7p?...
Starcom (STAR), “which specialises in the development of wireless solutions for the remote tracking, monitoring and protection of a variety of assets, is pleased to announce that an agreement has been signed with a local distributor in North Africa” and “to ensure that this and other orders can be delivered as planned both for this year and early 2019, the company has conditionally raised £400,000 before expenses through a placing… at a price of 2p”. Hmmm…
ProPhotonix (PPIX), “a high technology designer and manufacturer of LED illumination systems and laser diode modules, with operations in Ireland and the United Kingdom, today announces a trading update for the 2018 fiscal year. Trading conditions remain positive”… So good news then?...
Seeing Machines (SEE), the “computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has published its audited results for the year to 30 June 2018”. Not ‘pleased’ to do so then? – though I note “highlights” emphasising “five program awards now under contract with global OEMs to be delivered through multiple Tier 1 automotive suppliers” and “revenue up 117% to A$30.7 million”…
Previously writing on LightwaveRF (LWRF) in June it was from “real energy and excitement” to CEO ‘stepping down’ in less than two weeks!, with I concluding even if there is “real energy and excitement within the company”, it’s, as usual, the ability to generate cash which should prove key. On these bases, it’s currently bargepole ahoy / sell. The shares have though just risen on the back of an announcement; “Lightwave rated the best UK HomeKit solution”…
“Specialist full service supplier of technical fluid power products and services”, Flowtech Fluidpower (FLO) updated on trading in July – but the half-year results announcement today is currently accompanied by an approaching 30% share price fall, towards 120p. Hmmm…
CyanConnode (CYAN) “is pleased to announce” both “the receipt of a $11.6 million purchase order relating to a smart metering deployment by an Indian state-owned utility” and “the consolidation of its European operations”. Hmmm…
Networked video security systems group IndigoVision (IND) has announced results for the 2017 calendar year including “the group's financial performance in 2017 and indeed, prior years, has not been acceptable and IndigoVision is not achieving its full potential. This has resulted in significant changes in the board and senior management… the group's strategic direction has been set to better serve our shareholders, customers, employees, partners and other stakeholders”. Hmmm…
Industrial LED lighting technology company, Dialight (DIA) has announced results including “we remain excited by the group's prospects over the medium to long term and are confident of delivering future growth”. Hmmm, what about now then?...
There are two things I know about 2017. The first is that I had not one but two inaugural trips to a Sports Direct (SPD) store (and survived) and the second is that the omnipresent but embattled retailer should have been my tip of the year the thick end of a year ago. However in this world we must look forward and that brings me to today's first half profits at Mike Ashley's emporium.
Writing on results for the first half of 2017 from IndigoVision (IND) I concluded that there continued to look value, but that I was wary of the second half reliance and that the profit forecast looked ambitious. There’s now been a “Trading update and Board changes” announcement including “it is now clear that management's expectations will not be achieved and that a full year operating loss will be reported” and that, after 14 years service, “Marcus Kneen has resigned from the board and has ceased to be Chief Executive Officer with immediate effect”. Hmmm…
A half-year report from Mothercare (MTC) includes “we are on track with our transformation plans for our business, with like-for-like sales in the UK growing 2.5% and gross margins up by 34 bps year on year, in the first half. Across the business, we continue to invest and make progress, developing the Mothercare brand into a digitally led, global specialist”. So why are the shares currently a further more than 16% lower, at circa 70p?...
Previously writing on models and collectibles company Hornby (HRN), I noted no longer offering bulk sales at a discount & profit warning, but would it have been profit warning anyway? We now have the results for the six months ended 30th September 2017, a strategy update and a placing and open offer announcement…
SRT Marine Systems (SRT) has announced results for its half-year ended 30th September 2017, stating “steady financial progress broadly in line with our expectations and significant operational and project related activities” and “look forward optimistically to the second half”. Sounds encouraging…
Collectibles group Stanley Gibbons (SGI) has announced results for its year ended 31st March 2017 and a revised sale of a division. The shares have currently responded more than 13% lower towards 8p…
AIM-listed Advanced Oncotherapy (AVO) has released its full Annual Report. Having looked yesterday at a few things I thought it would be worth a second look – especially in the light of a clean audit report from RPG Crouch Chapman. Mea culpa to myself and Tom who expected something different, but hang on a minute…
Commenting yesterday on the “Launch of Google Assistant voice control” ramparoonie (Oops) RNS announcement from LightwaveRF (LWRF), I suggested it clearly currently remains cash burn ahoy, with results for the six months ended 31st March 2017 following today…
Strat Aero (AERO) “announces a trading update ahead of its full year results for the year ended 31 December 2016”. Hmmm – it’s already April 2017 though. I’d suggest this doesn’t bode well…
Previously writing on engineering company Goodwin (GDWN) in September with the shares at 1980p, I concluded that the energy industry environment saw me cautious and avoiding the shares. They were little changed on the prior 1895p close before an “Interim Management Statement” announcement at 2:15pm. A cause for alarm?...
Previously writing on LED lighting technology company Dialight (DIA) I noted somewhat of a share price recovery to 759.5p, but that ahead of the results for the 2016 calendar year I avoided. The following now reviews post those results – and with the shares having risen further…
Starcom Systems (STAR) has just released a trading update which shows that progress is still slower than expected in terms of growth and actually making the company profitable.
Previously writing on Goldplat (GDP), I concluded that I continued to expect more to come as the shares rose back above 6p. The following updates with they currently up to 6.625p on the back of results for the six months ended 31st December 2016…
I previously warned on rare books and collectibles group Scholium (SCHO) on the back of an October trading statement – and the shares are currently further lower, at 34p, on the back of the results announcement for the company’s half-year ended 30th September 2016…
Provider of surveillance technologies, Digital Barriers (DGB) has announced results for the six months ended 30th September 2016 including “it is clear that we have now established a strong organic growth engine”, though later also stating “organic revenues… were broadly flat at £6.9m”. Hmmm…
Having warned on shares in Digital Barriers (DGB) last year, I note an announcement of a £10 million credit facility – with this following a trading update announcement last week…
I wrote in July on rare books, arts and collectibles group Scholium (SCHO) as the shares declined to 32.5p on a full-year results announcement. They had recovered to 38p, but are currently more than 9% lower, at 34.5p, on a half-year (to 30th September) trading statement…
Having soared towards 60p in August, shares in SRT Marine Systems (SRT, formerly Software Radio Technology) are currently around 8% lower today, at circa 40p, on the back of a “Half Year Trading Update” announcement. Hmmm, let’s take a look…
A July profit warning meant results for the first half of 2016 from Vislink (VLK) were not going to be good but, on revenue 15% lower than in the corresponding 2015 period, at £22.6 million, a loss of £32.8 million!?! And there’s worse…
Having previously been positive on shares in IndigoVision Group (IND), I last concluded, with the shares then at 267.5p, that it was difficult to be particularly confident and that I’d look for safer value elsewhere (see HERE). I now update with the shares currently approaching 6% lower today, at 123.5p, on the back of a trading update for the first half of 2016…
Results for the company’s year to 31st March 2016 see rare books, arts and collectibles group Scholium (SCHO) comment “we were pleased with the performance for the year. A significant loss has been reversed and many of our core markets stabilised”. However, the shares are currently approaching 11% lower on the day, at 32.5p, in response. Hmmm…
Having IPO’d in April, brick and other masonry products producer, Forterra (FORT) has updated that “profit for the first half is in line with management's expectations”, but that “given current economic uncertainty and sufficient brick inventory levels, the board has reviewed the current production plan...”
