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?
Previously writing on group which describes itself as “a leading UK provider of Managed IT services and communications solutions to private and public sector organisations”, CloudCoCo (CLCO) with its shares up to 1.325p I noted argues “strong strategic and commercial progress”…but if EBITDA is bullshit earnings, what is “Trading EBITDA”?!. The group now states that it “is pleased announce its full year results for the year ended 30 September 2022”, so what of a now 1.25p share price?
Previously writing on landscape, building and roofing products manufacturer and supplier Marshalls (MSLH), in January with the shares around 325p I concluded that outlook uncertainty saw me continue to avoid. The shares most recently closed at just below 300p and are currently slightly further lower on the back of calendar year 2022 results.
Assuming you ignore a tiramisu for dessert every few months, it has been over thirty years since I last had any alcohol. Even when I was eighteen it did not really excite me, as back then all that interested me was economics and cycling…and not too much has changed since. Therefore, when Virgin Wines (VINO) says on its website that “more than 90% of our wines by volume are exclusive”, it does very little for me. A couple of years ago, during the deep COVID-19 excitement about internet home delivery, I observed that the then 200-250p share price of the recently-listed company did nothing for me and, with today’s share price just below 45p, it was very wise to call the shares a clear avoid back in 2021. I see today’s H1 2023 results start with the observation of a “strong performance from flagship WineBank scheme despite tough trading conditions”, though the harsh reality is that matters are terrible.
Previously writing on energy and water systems company Eneraqua Technologies (ETP), in October with the shares up to 300p I concluded ‘it’s material net cash generation I’ll continue to monitor for here and currently Avoid’. The shares most recently closed at 350p but are currently heading back towards 300p on the back of a “Year End Trading Update”.
Previously writing on automation and customer engagement software company Netcall (NET), on results in October I questioned are the ‘growth opportunities’ sufficient?. What now on results for its half-year ended 31st December 2022 which emphasise “accelerated progress in annual contract value, supporting strong forward momentum”?
Previously writing on transplant platform company Verici Dx (VRCI), in September with the shares falling to 17.5p I reviewed was the fundraise for accelerated progress or to avert cash crunch ahoy?, concluding continue to avoid. The shares most recently closed at 7.5p, but what of them currently up 20% today on the back of a “CLIA Certificate of Compliance” announcement.
Previously writing on group describing itself as “a leading provider of digital, data and technology services to the UK public sector” Made Tech (MTEC), earlier this month with the shares up to 32.5p I questioned its stated “delighted to have delivered another period of strong growth”. The shares most recently closed at above 38p but are currently heading back down towards the prior-noted level on the back of a half-year results announcement.
Previously writing on company which describes itself as “a leading global manufacturer of utility-grade energy storage” Invinity Energy Systems (IES) last month with the shares falling towards 40p I noted cash burn concerns and now, quelle surprise, the company “is pleased to announce the results of the placing”. How ‘pleasing’ is it?
Previously writing on digital location, identity verification and fraud software group GB (GBG), last year with the shares falling towards 400p I questioned its stated excitement about sustainable growth opportunities and its ability to capitalise on them. The shares last closed at 344.2p and what of they currently further lower on the back of a “trading update”?
A year ago, I was negative about the property investment and development company SEGRO (SGRO), since when its share price has fallen from just over 1200p to 835p this morning. So, what are my updated views about the FTSE 100 name?
Previously writing on Brighton Palace pier, Lightwater Valley adventure park, mini-golf and bars business Brighton Pier Group (PIER) in September I noted strong full-year results, but economic pressures now to bite?. So what of a latest trading statement?
Previously writing on company describing itself as “a leading supplier of specialist connection systems to the automotive sector” Strip Tinning (STG), in September with the shares rising to 75p I noted negative occurrences despite it only having listed that February and continued to avoid. The shares last closed at 65p and what of them now at 55p on the back of a “Pre-Close Trading Update”?
Previously writing on Engage XR (EXR), two weeks ago with it describing itself as “a leading metaverse technology company”, I concluded to be particularly wary of announcements such as its latest “showcases first AI-powered virtual employee”. Now a “pleased to announce… placing”. Quelle surprise!
Previously writing on company which describes itself as “a leading innovator in sustainable plant-based polymers used to decarbonise everyday consumer products” Itaconix (ITX), in October I cautioned “pleased to announce” distribution program, attempted ramptastic?. And now, quelle surprise, a “Placing, Subscription and Open Offer”.
Previously writing on payment technology for business communications company PCI Pal (PCIP), 11 months ago with the shares at 58p I concluded that the uncertainty together with a near £38 million market cap meant I continued to avoid. The shares most recently closed at 57p, but what of them currently down to 54.5p on the back of a trading update?
Previously writing on windows and doors retailer and manufacturer Safestyle UK (SFE), in November with the shares falling back below 25p I concluded that I retained limited confidence on its outlook at that juncture and continued to avoid. The shares last closed at 23p, but are currently edging up today on the back of another trading update, so what’s the story now?
Previously writing on sports, leisure and mobility equipment group Tandem (TND), in September with the shares down to 285p I concluded that with the trading headwinds and cash flow movements I continued to avoid. What now with the shares at 262.5p on the back of a trading update?
Previously writing on castings and engineering company Chamberlin (CMH), last month with the shares up to 3.95p I noted “Corporate Update”, attempted ramptastic?… And now a “pleased to announce” equity raise – quelle surprise!
Previously writing on group which described itself as a “disruptive and inclusive digital womenswear fashion brand” In The Style (ITS), I reviewed what of a now 13.625p share price as the CEO swiftly exited and a strategic review was announced but it argued “considerable potential… the current market capitalisation of the company does not properly reflect”? I concluded, noting its trading trajectory, reiterating to avoid… and now an intra-day (uh oh!), 12:54pm, “trading update”.
A couple of weeks ago I concluded that “Chocolate is a sweet treat but you still cannot say the same for Hotel Chocolat (HOTC) shares” HERE. Despite a big share price fall in 2022, the then c. two quid share price, after an early January hope romp, seemed bonkers to me. It is just over 220p now as, apparently, it had a great Christmas trading session.
Previously writing on LED lighting for industrial applications company Dialight (DIA), in November with the shares at 305p I concluded including that there can be no great confidence in expectations for the full year remaining unchanged. On 14th December the company announced that Chair Karen Oliver was to “step down” at the end of the month but that its “trading expectations for the year ending 31 December 2022 remain unchanged”. So what of the shares currently down more than 16% today at 266p on the back of a “trading statement”?
Previously writing on online wine retailer Virgin Wines UK (VINO), in October with the shares at 50p I noted ‘full-year results argue “resilience”… but it’s financial downgrades AGAIN’ and concluded it is particularly the cash flow and balance sheet to monitor here and the trading trajectory sees me continue to avoid. The shares last closed at above 70p but are currently back towards 50p on the back of a “trading update”, so how’s that trading trajectory?
Previously writing on models and collectibles company Hornby (HRN), in April with the shares up to 34.5p I continued to avoid noting it looks to remain that the valuation demands some strong growth in profitability. The shares last closed at 29p and are currently further down to 24p, so what about a latest “trading statement”?
Previously writing on videogames developer and publisher Frontier Developments (FDEV) just over a year ago I concluded, even as the share price fell towards 1300p, that noted performance and guidance supported continued caution. The shares last closed at 999p and today a “Trading Update and Notice of Results”. This commences including that the company “expects to report revenue for H1 FY23 of approximately £57 million (H1 FY22: £49.1 million)”. Good news then?
In July I noted on Allergy Therapeutics (AGY) with the shares down to 17p that brokerage finnCap argued “substantial potential upside as key value inflection points are reached over the next 18 months”, but with there also clear risks, including financial, in reaching them and a still £109.5 million market cap, at least before the upcoming results detail, I avoided. So what of today an “Annual Report and Accounts Delayed”-titled announcement?
Previously writing on Gama Aviation (GMAA), in August with the shares at 56.5p I questioned it “progressing towards securing the new credit facilities required”. The shares last closed at 61.5p but are currently heading down towards the previously noted level on the back of an “H2 Trading Update, Liquidity & Credit Facilities” announcement.
Previously writing on Franco Manca and The Real Greek restaurants company Fulham Shore (FUL), at the start of last month with the shares at 9.9p I concluded it will be interesting to see the next balance sheet… and the company noting “a lack of transparency for short term trading… Macroeconomic challenges… combined with input cost inflation, are presenting trading conditions that are more unstable and unpredictable than at any time in recent memory”, at this juncture I certainly continue to avoid. The shares last closed at 11.25p, but today those results and the shares are currently down to 9.5p.
Previously writing on company describing itself as “a global provider of value-adding engineered solutions for the medical, optical and aerospace industries”, Carclo (CAR) last week with the shares down to 13p I noted it stating it “evaluating the financial impact and taking mitigating actions” following a contract cancellation, but how many mitigating actions can it take?!. Now a further “trading update”.
Previously writing on printed circuit technology products company Trackwise Designs (TWD) as the shares more than doubled to above 17p and a £6.5 million market cap I concluded that ‘I retain concern on the additional funding options in the current admitted massively challenging macro business environment. As such, I currently continue to avoid’. The company though today commences an announcement with that it “is pleased to announce a proposed conditional placing to raise gross proceeds of £3.65 million”. Admittedly, the shares last closed at 12.65p…but at least a ‘pleasing’ price in relation to that then?
Previously writing on x-ray imaging company Image Scan (IGE), in October as the shares fell towards 1p I concluded that with the outlook and a now down to below £1.5 million market cap, the balance sheet should be reviewed closely on the full-year to 30th September results announcement… continue to avoid. With the shares last closing at 0.925p, the company has today announced those results.
Previously writing on pharmaceutical development company Nuformix (NFX), in May with the shares falling below 0.50p I noted management chaos follows operational chaos, hopefully warnings heeded!. Co-founder and now again Executive Director Dan Gooding today though argues in half-year results, “I expect our on-going penultimate pre-clinical studies to conclude that our data and IP support the progression of the programme towards patients for whom I believe NXP002 can address both the side effect and efficacy limitations of existing IPF treatment options. We hope to announce results for both NXP002 and NX004 in the near-term”. So what of a 0.375p share price now?
In September I noted group describing itself as a “disruptive and inclusive digital womenswear fashion brand”, In The Style (ITS) argued “significant progress against several of the strategic priorities” but I questioned what about the still diminishing cash though?!. That was with the shares at circa 26.5p, so what of a now 13.625p share price after further announcements today?
Online bathroom retailer Victorian Plumbing (VIC) has announced results for its year-ended 30th September 2022 emphasising “Results ahead of expectations, with H2 revenue growth as the Group demonstrates continued trading momentum and further market share gains, supported by a robust balance sheet… Board proposes maiden ordinary full year dividend of 1.1p and an additional special dividend of 1.7p”. Good news then?
Previously writing on Vianet Group (VNET), I concluded I wait for improvement in cash flow and outlook before reconsidering from avoid. So what of now results for its half-year ended 30th September 2022?
Previously writing on photonic components and systems manufacturer Gooch & Housego (GHH), in August with the shares falling below 700p I concluded that the flux together with the valuation suggested to still avoid / sell. The shares last closed at 463p, and what of them currently being still further down today on the back of results for the company’s year ended 30th September 2022?
Mortgage Advice Bureau (MAB1) has issued a trading update noting adverse trading impact from the government’s recent manoeuvrings but also that its “re-financing opportunities from its client bank are at a record level for 2023… remains highly cash generative and retains a strong balance sheet”. So what of a now down towards 500p share price, £290 million market cap?
Describing itself as “a world leader in narrowband radio frequency mesh networks”, CyanConnode (CYAN) has issued a trading update and notice of results. So what do these tell us re. a last closing 13.25p share price, £31.9 million market cap?
Previously writing on personal care, beauty and fragrance products company Creightons (CRL), in July with the shares around 40p on the back of full-year results I concluded that with it more than half way through the current half year I suggest it means those supply chain and inflationary pressures continuing to reduce earnings and, therefore, at this juncture still just on my watchlist. Now we have the half-year results... and the shares have currently responded more than 20% further lower to around 30p.
Previously writing on software for customer marketing company Pelatro (PTRO), in June with the shares at 27.75p I reviewed an AGM Statement, including asking what about the recent RNS Reach announcements & broker change?, concluding caveat emptor and continue to avoid. The shares last closed at just below 20p, but are currently much further lower towards a £6 million market cap on the back of a “trading update”.
Most of us like a bit of chocolate, and my personal top tip is the Taste The Difference J Sainsbury (SBRY) Ugandan 90% dark chocolate. Excellent taste, ESG friendly and does not cost you a fortune. But I have other financial and chocolate issues to discuss today as Hotel Chocolat Group (HOTC), a “premium British chocolate maker”, has announced its preliminary results for the 52 weeks ended 26th June 2022.
Kettle safety controls and other water temperature components group Strix (KETL) commences an announcement today that it “is pleased to announce… completed the acquisition of Billi” and also includes that it “continues to maintain its strong market share position in Kettle Controls and is outperforming the market in the Appliance and Water categories. In addition, Strix has a strong balance sheet”. So what of a current share price response to 78p...more than 37% down!?
Previously writing on marketing decision making platform group System1 (SYS1), in August I concluded despite the shares currently down to 220p, it’s good luck to it with the current half-year results and the by the end of November-expected initial conclusions of the strategic review. I suggest it remains sensible to retain the cautious stance here and continue to avoid. Those announcements have now been made.
‘Fast-moving consumer products’ company Supreme (SUP) has announced results for its half-year ended 30th September 2022 including emphasising “pleasingly, the business has delivered a solid trading performance in the period” and that the full-year is “now expected to be ahead of market expectations”. So what of a current share price response down towards 100p?
Previously writing on ventilation systems and window and door hardware company Titon Holdings (TON), in July with the shares down to 75p I noted my prior caution justified; trading warning – concluding that uncertainties saw me continue to avoid. The shares last closed at 81p... but today another trading update.
Previously writing on windows and doors retailer and manufacturer Safestyle UK (SFE), in September as the shares fell to 21.5p I concluded that ‘its high household energy costs environment confidence for its products is versus the consumer spending pressures and “consumer confidence levels at a 40-year low”. As such, I remain highly cautious here at this juncture and continue to avoid’. The shares last closed at above 30p but are currently falling back below 25p following a “trading update”.
RM plc (RM.) has announced “Proposed sale of the RM Integris and RM Finance Business”, emphasising “continuation of RM's transformation strategy” and helping the shares currently higher to 45p, a £37.7 million market capitalisation. So what’s the latest detail here?
LiDAR wind sensors for wind turbines company Windar Photonics (WPHO) has announced restoration of trading in its shares following the publication of accounts and with a £1.8 million placing at 15p per share. So what of a share price up to 15.5p, a prospective £10.3 million market cap?
Vianet Group (VNET) has announced a partnership which it states sees its “innovative contactless payment solution hardware join forces with Suresite's market-leading acquiring services”, with Chairman & CEO (hmmm) James Dickson “delighted to partner with Suresite in this innovative collaboration proving, once again, Vianet's ability not only to drive new technological initiatives but also to establish new markets for our products”. So what of a share price currently up to 56.75p in response?
Previously writing on LED lighting, electronic and electro-mechanical systems group LPA (LPA), last year I noted, having written trading warning, argues “victims of our own success”. Really? in March with the shares at 75.5p, that I continued to avoid with they down from 70p. What now, with they above that level following a trading update announcement?
Describing itself as “a leading provider of technology and services for the global offshore energy markets”, Tekmar Group (TGP) has announced “extension of banking facility… completes the renewal of the group's existing facility and financing arrangements”. So what of a share price currently down to 8.75p?
Online competitions to win cars and other lifestyle prizes company, Best of the Best (BOTB) has announced that “trading for the first 6 months has been in line with market expectations” and “with Globe Invest Limited and their subsequent strategic investment, information sharing and negotiations are underway regarding both the Licensing and Distribution Agreement and the Marketing and Collaboration Agreement. The company hopes to finalise these agreements before the end of the year”. How do these compare to a current 410p share price, £34.3 million market cap?
Describing itself as a “global leader in LED lighting for heavy industrial applications”, Dialight (DIA) has issued a trading statement commencing that it “has seen positive overall trading momentum continue into the second half, with group revenue in the period up 35% (CCY 23%) over the prior year comparator”. That sounds good, but revenue is, of course, vanity – what’s the bottom-line situation?
Previously writing on anti-microbial hygiene technologies company Byotrol (BYOT), in August with the shares at 2.65p I concluded to continue to avoid. The shares last closed below 2p but are currently up more than 7.6% today at 2.10p on the back of a “Directorate Changes” announcement, so what’s the latest here?
Promotional products marketplace group Altitude (ALT) has issued a trading update emphasising that it “anticipates that FY23 trading will be materially ahead of current market expectations, and that the group will achieve record year-end results” and that it “also anticipates that the group will continue to experience revenue and EBITDA growth throughout 2023”. So what of a current 15.6% higher share price response to 26p, an £18.4 million market cap?
Osirium Technologies (OSI) states that it “is pleased to announce that it has conditionally raised £1.53 million before expenses… at a price of 2 pence per share”. And the prior closing share price?...4p! You can’t say you weren’t warned HERE (at 5.75p per share), HERE (at 5.25p per share), HERE (at 6p per share), HERE (at 6.5p per share), HERE (at 6.25p per share) and HERE (at 6.25p per share)! So what now with the shares currently down to 2.55p, a current (pre-placing) £1.2 million market cap!?
Provider of training programmes for software coding Northcoders Group (CODE) states that it “is pleased to announce that… the company has raised approximately £2.1 million (before expenses). Pursuant to the placing, 694,444 new ordinary shares have been conditionally placed at a placing price of 300 pence per share”. How ‘pleasing’ is this?
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?
A week ago I wrote on a half-year trading update from arts and crafts, stationery, toys and books retailer TheWorks (WRKS), reviewing how “resilient” is its performance?. That, of course, included noting its cash flow – with it emphasising that its “financial position remains strong with net cash of £11.0m at the period end” and also noting that it “fully reflects the build of stock prior to the peak trading season”. Now a “Correction: Half-Year Trading Update” announcement.
In March this year Everyman Media Group (EMAN) was “pleased to announce the appointment of Jeremy Summerfield to the board as Chief Financial Officer, on or before 1 July”. Towards the end of June though it announced that he “will no longer be joining” and promoted finance director who joined in early May, Will Worsdell. Now it has announced Executive Chairman Paul Wise is “to step down from the board to pursue other interests”. So what’s the overall situation here?
Tekmar (TGP) has announced that a “proposal being considered represents a strategic investment from a global institutional investor in the energy sector, which would provide funding for the company to follow an ambitious plan for growth, both organically and by acquisition”. Sounds good, so what of a currently little changed circa 9.25p share price?
Cleaning and hygiene products private label and contract manufacturer McBride (MCB) has issued an AGM trading update headlined “Trading in line with our expectations” and including that “the cost of most raw material groups is steadying”. Good news from a current 25p share price?
Online musical instruments and music equipment retailer Gear4music (G4M) has announced results for its half-year ended 30th September 2022 and that “trading in October and November to date gives the board further confidence that results for the financial year will be in line with the recently updated consensus market expectations”. So what of a current just above 100p share price?
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”?
Describing itself as a “technology and services business aiming to revolutionise home moving and ownership”, Smoove (SMV) has announced results for its half-year ended 30th September 2022 with “Highlights” including “revenue increased by 4% to £10.6m… Cash balance of £17.0m… Proposed tender offer to return up to £5m to shareholders to be launched as soon as practicable… confident that we have the right strategy and plan in place to build on the successes of the first six months of this financial year”. So why currently a share price response down approaching 7% to 33.8p?
Learning and skills development programmes company Malvern International (MLVN) has announced a placing “principally to redeem the final tranche of company's outstanding loan notes” and that “the holder has agreed that the outstanding principal of the loan notes may be redeemed at a five per cent. discount. In addition, the holder has agreed to sell all the ordinary shares he holds in the ordinary share capital of the company, amounting to 917,600 ordinary shares at the placing price”. So what of this currently helping the shares more than 15% higher to 9.5p?
Bioplastics and radio frequency technology company Biome Technologies (BIOM) has issued a trading update commencing that “Group revenues for the quarter ended 30 September 2022 were in line with management expectations at £1.9m and were 77% ahead of the similar period last year” and including “encouraging signs from the uptick in demand from the large opportunity we have been pursuing for some time; growth from the broadened customer base and the portfolio of scale opportunities”. What though of a share price currently up approaching 50% on the announcement to 75p?
Previously writing on Gym Group (GYM), last year with the shares around 282p I concluded that it looked to need to deliver very impressively to justify the valuation. The shares last closed at 123.6p and are further down today on the back of a “trading update”, so what’s going on now?
Previously writing on castings and engineering company Chamberlin (CMH), in May with the shares up towards 5p I questioned whether a “pleased to announce” property sale and leaseback was actually for “growth strategies”. With the shares last closing at 4.4p, what of now full-year results and a current 4.5p share price, £4.8 million market cap?
Previously writing on engineering and technology staffing company Gattaca (GATC), early this year with the shares falling to around 90p I concluded, though I’d continue to monitor for meaningful trading improvement, at best on the watchlist. That has proven sensible, with the shares most recently closing at 79p – and now its full-year results.
Previously writing on B2B media group Bonhill (BONH), last month with the shares down towards 4p I concluded that the strategic review including formal sale process looks driven by financial weakness. The shares last closed at 3.75p and are currently down to around 3.25p, a circa £4 million market cap, on the back of a “Trading Statement & Update on Formal Sale Process” announcement, so what’s the latest?
Previously writing on sustainable wood company Accsys Technologies (AXS), in September with the shares at 78p I concluded that the latest update suggests operational and financial troubles remain and I certainly currently avoided. So what of now an “Update on Tricoya - Consortium restructure”-titled announcement?
Previously writing on Franco Manca and The Real Greek restaurants company Fulham Shore (FUL), just over two months ago with the shares at 11.25p I noted “trading is resilient”, but what is to come? – concluding to avoid. The shares are currently 9.9p, but that is slightly up on the back of a “Business Development & Trading Update” – so what’s happening now?
UK floor coverings distribution group Likewise (LIKE) commences a trading update with that it “is pleased that its ongoing investment in sales representatives, point of sale and logistics infrastructure, has resulted in sales revenue continuing to progressively increase month on month. Revenue growth in Q3 of 23% organic and 96% total growth exceeded the performance achieved in Q2, with full year revenues expected to slightly exceed current market expectations”. That sounds good, so what of a current share price response down over 16.5% towards 15p?
Provider of electronic, software and physical security systems Newmark Security (NWT) has issued a trading update including noting full-year “strong revenue growth, with revenue of approximately £19 million (2021: £17.6 million)” and that it has “implemented a programme of strict cost control and increased prices”. What of the shares currently responding up to 31.5p, more than 23% higher?
UK provider of IT and communications services to businesses and public sector organisations, CloudCoCo Group (CLCO) states that it “is pleased to provide an update on its progress for the year ended 30 September 2022”... and the shares have currently responded approaching 40% higher to 1.325p. So how well is its trading going?
Online wine retailer Virgin Wines (VINO) has announced results for its year ended 1st July 2022, stating that it is “pleased to report the group's second set of annual results as a public company, following our admission to AIM in March 2021… looks to the future with confidence”. The shares have currently responded slightly higher to 50p, but that still compares to above 100p as recently as June.
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?
Energy and water systems company Eneraqua Technologies (ETP) has announced contract wins “taking cover for its FYJan24 revenue target to 85% (from prior 72%). The order book continues to provide full revenue cover for the FYJan23 revenue target”. What of a current 14.5% higher share price to 300p in response?
‘Fast-moving consumer products’ company Supreme (SUP) states for its half-year ended 30th September 2022 that it “is pleased with the group's performance across the period, with trading in line with expectations for the year… remains positive about the group's future growth prospects” – and the shares have currently responded approaching 8% higher to 83.5p, though still comparing to above 110p as recently as August.
Trackwise Designs (TWD) has announced a “New Agreement with UK EV OEM” and the shares have currently more than doubled to above 17p, so what’s the detail?
Previously writing on online musical instruments and music equipment retailer Gear4music (G4M), early this year I concluded bearishly with the shares just below 700p. They last closed at 107p, but are currently more than 5% higher today on the back of a half-year trading update – so what’s the situation now?
Previously writing on wiring accessories, EV chargers, LED lighting and portable power products company Luceco (LUCE), in July with the shares at 111.4p I noted that the macroeconomic outlook could well result in further impacted demand rates and concluded continue to avoid. With the shares having last closed at 74p, what of now a “Q3 2022 Trading Update”?
Previously writing on bars operator Revolution Bars Group (RBG), in August with the shares up to 15p I noted “pleased to announce” update, but how’s the net cash generation?. Now results for its year ended 2nd July 2022 and an acquisition.
Parcel freight, secure courier and logistics services group DX (DX.) “is pleased to announce the restoration of the company's ordinary shares to trading”... and they have currently responded down 20% to 24p, so what’s the situation here now?
Describing itself as “a world leader in Narrowband Radio Frequency Smart Mesh Networks”, CyanConnode (CYAN) has announced it has raised £0.5 million via a share subscription at 12.25p per share – stating “considering these uncertain times, your board felt it prudent to accept the offer, the proceeds of which will be used to bolster working capital”.
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?
Natural extracts and ingredients for the beverage, flavour and fragrance industries company Treatt (TET) has issued a trading update including noting full-year “revenue growth of c.13% (9% in constant currency) in line with market expectations. Progressive dividend policy unchanged… enters the new financial year with confidence in Treatt's proposition and its ability to deliver top line growth, supported by positive market dynamics”. The shares have currently responded up to 560p...but that compares to above 800p as recently as August?
Previously writing on alcoholic drinks company Distil (DIS), in July with the shares down to 1.15p I concluded that I remained cautious of the trading and financials here and continued to avoid. The shares last closed at 1.05p but are currently falling materially further on the back of half-year results.
Previously writing on fishing retailer Angling Direct (ANG), in August with the shares down to 30p I concluded that the trajectory of trading saw me retain my cautious stance of most recently a 62p share price. The shares most recently closed at 32p but are currently below 30p on the back of half-year results.
People-screening technology group Thruvision (THRU) states that it “is pleased to provide an update on trading for the six months ended 30 September 2022” and the shares have currently responded up to 23.7p in response to the update. I having previously written on the group a year ago, what’s the story now?
A “Contract Award” announcement from drug development consultancy Physiomics (PYC) and the shares are currently up approaching 24% to 2.60p in response... so clearly material news?
Previously writing on “leading provider of 'Integrated Space Management Software' for smart buildings and commercial spaces' visitor reception, desks and meeting rooms” SmartSpace Software (SMRT), in August with the shares down to 43.5p I noted that the financials and valuation saw me continue to avoid. The shares have currently responded to results for the half-year ended 31st July 2022 today slightly higher to 38p, so what now?
Energy and water systems company Eneraqua Technologies (ETP) states that it “is pleased to announce its interim results for the six months ended 31 July 2022”...and the shares have currently responded approaching 14% higher in response to the announcement to 262p. So what’s the news?
Writing on UK online electrical retail group Marks Electrical (MRK) in August with the shares at 72p I concluded the macro conditions saw me question already the bottom-line impact and for how long revenue will stand-up, ahead of half-year update/results avoid / sell. Today it updates on its half-year ended 30th September, emphasising “Continued revenue momentum, leading to market share gains and robust cash flow generation”, and the shares have responded up...to currently 58.5p. So what’s the story now?
Writing on “materials and textile innovation” company HeiQ plc (HEIQ) last month, I noted that though it argued “significant amounts of receivables have been collected after balance sheet date… we expect several projects to start adding sales in the remaining months”, a still not far off £95 million market cap still very much looked a lot. Now a “Files Breach of Exclusive Agreement Complaint”-titled announcement from the company.
Writing on B2B media group Bonhill (BONH) last month with the shares at 5.25p, I questioned its ‘pleased to announce, robust’ first half argument. The shares last closed at 5.75p...but are currently down towards 4p, so what’s going on?
Previously writing on x-ray imaging company Image Scan (IGE), in March with the shares up to 2.25p I questioned how “significant” is the loss to be? and concluded to avoid the shares. What of today a “trading update” and the shares currently a further more than 20% lower on the back of it, to just above 1p?
Online bathroom retailer Victorian Plumbing (VIC) has issued a trading update for its year ended 30th September headlined “Trading ahead of market expectations” and the shares have currently responded more than 15% higher to above 40p. How creditable ‘ahead of expectations’ is, of course though depends on how challenging the expectations were. So what’s the story here?
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 “the UK's leading tile specialist” Topps Tiles (TPT) are currently up approaching 5% today at 43p on the back of a Q4, to 1st October, trading update but are therefore still well down on the above 59p when I cautioned on the shares in March. So what’s the story now?
On recently writing on ‘digital transformation’ business TPXimpact (TPX) the shares had fallen to 32.5p. They recovered to 34.9p but, on a good day for the markets, are currently back at 32.5p despite the company announcing that “certain directors and senior management of the company have purchased a total of 236,820 ordinary shares”. So what’s the story?
‘Drug treatment regimens and personalised medicine consultancy’ Physiomics (PYC) has followed recent half-year results with a “pleased to announce… third contract by existing client, Numab Therapeutics”. So what of a current 2.3p share price?
Previously writing on designer, developer and international distributor of toys, games and giftware Character Group (CCT) just over a year ago with the shares down to 572.5p I concluded I’d look for some stated stabilisation before reconsidering from avoid. So what of a latest trading update?
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?
Manufacturer of carbon fibre reinforced ceramic automotive brake discs Surface Transforms (SCE) “is pleased to announce that… the company has conditionally raised gross proceeds of £16.0 million… at the issue price of 40 pence per ordinary share”. How pleasing is this?
Earlier this month on company describing itself as “a leading UK experiential leisure business operating the Escape Hunt and Boom Battle Bar brands” XP Factory (XPF), with the shares at 12.75p I suggested if there was positive financial news it would have said so. Now what of a results announcement for the first half of 2022?
Earlier this month I concluded on company which describes itself as “a leading provider of IT solutions to the global life sciences market” Instem plc (INS) that, with the shares up to 660p, greater and more consistent delivery is required – in overall financial terms, not just contract announcements. Now half-year results...and the shares currently down to below 600p.
Previously writing on specialist engineering company Pressure Technologies (PRES) in 2020 with the shares down to below 53p, having previously written with they just below 130p, I concluded ‘I retain that, particularly with the balance sheet and despite the shares having more than halved since, I’d want to see convincing overall trading recovery evidence before reconsidering the stance to avoid’. The shares most recently closed at 63p... but today a “Full-Year Trading Update”.
Previously writing on company which describes itself as “a world leading specialist in high-end embedded computer products for critical applications” Concurrent Technologies (CNC), in May with the shares falling below 80p I noted “order book increased”… but what about order delivery ability?, stating component shortage potential for disappointment. The shares last closed at 83p but are currently falling towards 70p on the back of half-year results.
Previously writing on Crossword Cybersecurity (CCS), in July with the shares at 29p I questioned “a positive H1” and stated that I can see why it could be desperate for some more cash. Today it “is pleased to announce that it has completed an oversubscribed fundraising by Hybridan LLP of approximately £3.6 million (gross)”. How pleased should it be though?
Writing on windows and doors retailer and manufacturer Safestyle UK (SFE) last month with the shares lower towards 36p I concluded suggesting the half year results statement this month wasn’t going to be good and still avoid / sell. Now the half-year results...and the shares currently lower to 21.5p.
SRT Marine Systems (SRT) has announced that it “has made excellent financial and operational progress during the first half of the financial year across both its transceiver and systems divisions, and that therefore the company is expecting H1-2022 to be materially better than the same period last year”. So what of a current 11.1% higher share price response to 28p?
SRT Marine Systems (SRT) has announced that its AGM and presentation on Wednesday will also be live streamed and will be preceded by an open day at the company's offices. That is creditable investor relations but what about a share price down from approaching 50p early this year to a current below 25p following its full-year results?
‘Fast-moving consumer products’ company Supreme plc (SUP) has announced “trading for the current financial year remains in line with market expectations… delighted with the progress we have made in increasing our retail penetration, alongside the positive impact of recent brand and product launches”, with this following “a strong performance across the year ended 31 March 2022”. So what of a share price currently down to 87p?
Previously writing on provider of business technology jargon(oops) an “intelligent operations platform for the deskless worker” Checkit plc (CKT), last month with the shares at 27.5p I concluded to avoid including with market conditions now being adverse to cash burn and jam tomorrow hopes. It has now announced results for its half year ended 31st July 2022, including emphasising “continued to deliver against its strategy to transition the business exclusively to higher quality and higher value recurring revenues”... so what of a now 20p share price?
Previously writing on sports, leisure and mobility equipment group Tandem (TND), in June with the shares down to 250p I concluded that the trading headwinds meant I avoided. The shares last closed at 300p but are currently falling again on the back of half-year results.
Plenty has happened in markets and the broader business economy over the five months since I last wrote about Dunelm (DNLM), “the UK’s #1 homewares retailer, with a growing presence in the furniture market” HERE. Maybe I have better things to do, but I still have failed to visit one of its 175 “mainly out of town, with many offerings made-to-measure blind, curtain, shutter and accessories fitting service, and cafes” stores across the land. I guess that was wise as the shares are now down c.45% year-to-date (albeit still remaining a few percent above the early April 2020 COVID-19 low). How has trading been recently?
Corero Network Security (CNS) emphasises a “record H1 performance underpinned by strong ARR and new business growth”. What’s the detail and what of a 10.5p share price, still down from above 14p as recently as May?
Describing itself as “a premium British chocolate maker with a strong and distinctive D2C brand”, Hotel Chocolat Group (HOTC) has announced that, whilst it “continues to explore the future development of wholesale opportunities in the US market… the group has decided to cease US direct to consumer sales via its website and exit the in-country warehousing and fulfilment support arrangements”. Just how “strong and distinctive” is the brand then?
Sustainable wood company Accsys Technologies (AXS) has issued a trading update commencing “continuing strong demand… the introduction of an Energy Price Premium to sales prices from May 2022 continues to help the group manage the cost impact of volatile and elevated gas prices in Europe”. So what of a share price on the back of it currently more than 12% lower at 78p, though still an above £161 million market cap?
Financial markets cloud computing and connectivity group Beeks Financial Cloud (BKS) has announced “a record trading performance in the year, delivering growth on the prior year and in line with upwardly revised market expectations” and that the first customer for its newly launched Exchange Cloud offering is ICE, the world's largest exchange group and owner of the New York Stock Exchange. So what of a share price currently up to 156p?
On June-announced results for its year ended 30th April 2022 with the shares around 400p, Best of the Best (BOTB) stated it “look to the medium and long term with confidence as we push towards a return to steady growth”. So what of now a “Letter of Intent and Strategic Investment”?
Describing itself as “a leading UK experiential leisure business operating the Escape Hunt and Boom Battle Bar brands”, XP Factory (XPF) states that it provides an update on progress and that it has acquired Boom Battle Bar Cardiff. So what of a current 12.75p share price, £19.2 million market cap?
Surface coating technology company Hardide plc (HDD) states that it “is pleased to announce” that it has successfully completed a fundraising. Should it be?
Previously writing on B2B media group Bonhill (BONH), in June with the shares at 6p I concluded that it would be interesting to see the full half-year picture with the underlying cash burn. It has now announced results for the first half of 2022...and the shares are at 5.25p.
Previously writing on company which describes itself as “a leading medical device company in the field of regenerative medicine” Tissue Regenix (TRX), in January I questioned “robust financial and operational performance”. So what of now results for the first half of 2022?
Previously writing on transplant platform company Verici Dx (VRCI), in June with the shares down to 26p I questioned was the “fundraise to… continue the accelerated progress” or to avert cash crunch ahoy?. Now half-year results... and the shares currently further down to 17.5p.
Describing itself as “a leading manufacturer of battery cells for specialist markets”, AMTE Power (AMTE) states that it “is pleased to announce that… Alan Hollis has been appointed to the board… has a 20 year public company track record of developing and executing profitable growth strategies within engineering and manufacturing businesses with turnovers ranging from £4m-£200m”. So what of a current more than 3% lower share price response towards 70p and a £25 million market cap?
Describing itself as “a leading bioplastics and radio frequency technology business”, Biome Technologies (BIOM) has issued a “Grant funding from Innovate UK” announcement including emphasising that it is “to support a collaborative development project with ANPOLY Inc of South Korea to improve shelf life performance of food packaging… could represent an important addition to the business's product range in due course and will bring benefits to manufacturers, consumers and the environment”. So what’s the detail?
Instem plc (INS) has issued a “$12m five-year agreement with Leading CRO”-titled announcement and emphasises it “the largest ever received by Instem”. So what of a current share price response up to 660p?
Franco Manca and The Real Greek restaurants company Fulham Shore (FUL) has issued an update emphasising “trading is resilient and running in line with management expectations… our customers are attracted by our high quality ingredients and great prices”. So what’s the outlook in the context of a current 11.25p share price?
System1 Group (SYS1) has announced the appointment of Conrad Bona as a non-executive director, stating “his experience will further strengthen the board's skillset and will contribute to our future success”... though along with a “Review of strategic options”. So what’s going on?
Previously writing on antimicrobial company Byotrol (BYOT), in March with the shares up to 3.15p I questioned the overall performance despite it arguing a significant improvement in product sales. So what of now-announced results for its year ended 31st March 2022?
Learning and skills development programmes company Malvern International (MLVN) states that it “is pleased to provide a trading update for the six months ended 30 June 2022, ahead of announcing its interim results in the first half of September” and “we remain positive about the outlook for the company”. So what’s the detail and what of a current 0.10p share price?
Yesterday CyanConnode (CYAN) emphasised a “largest-ever order” but I noted ramptastic over financial detail again. So what of now results for its year ended 31st March 2022?
Previously writing on ‘immersive entertainment’ group Immotion (IMMO), in June with the shares at 3.7p I questioned just how “strong” is the trading?. Does now a “Pre-Close Trading Update” help?
Describing itself as a “leading provider of 'Integrated Space Management Software' for smart buildings and commercial spaces”, Smartspace Software (SMRT) states it “is pleased to announce a trading update for the six month period ending 31 July 2022”. So why have the shares currently responded to the announcement down 6.5% to 43.5p?
Previously writing on consulting, software and technologies group TP (TPG), in June with the shares down to 1.25p I noted worsening confidence and results delay. The shares last closed at 1.875p, but are currently back below 1.5p following the delayed 2021 results announcement.
Describing itself as “a leading designer, developer and supplier of interior components to the global automotive industry”, CT Automotive Group (CTA) has issued a trading update headlined “Revenues ahead in H1, production recovery gaining momentum”...and the shares have responded to currently 115p, more than 22% lower! So what’s going on?
Previously writing on provider of business technology jargon(oops) an “intelligent operations platform for the deskless worker” Checkit plc (CKT), in February with the shares down to 46p I noted it increasing costs with it already cash burn aplenty and how long to wait for a meaningful positive revenue and bottom-line swing?, avoid / sell. The shares last closed at 29p and now a trading update emphasising “successful transformation into a subscription business… Cash at 31 July 2022 was £19.5m… in light of market conditions, the board is accelerating its plan to achieve profitability”... and the shares currently at 27.5p?
Digital media company which owns ‘Entertainment Daily’, ‘The Daily Mash’ and ‘The Tab’, Digitalbox (DBOX) has announced a trading performance “significantly ahead of the company's expectations” and on “the acquisition of the web and mobile platform assets of TVGuide.co.uk Limited, announced in May… expects this to enhance… revenue performance and profitability”. So why a current share price response to 11.25p, more than 6% lower?
Hostel market-focused online travel agent Hostelworld Group (HSW) states that it “is pleased to announce its interim results for the six-month period ended 30 June 2022… strong month on month growth… in the absence of any further deterioration in the macro-economic climate, disruption to airline schedules, or escalation of the conflict in the Ukraine, we expect to be EBITDA positive in H2”. So what of a current share price response to 90p, down almost 5%?
Back in April I wrote about “The continuing madness of Deliveroo” (ROO) HERE. I am sure there are a bunch of shareholders (and users) of the online food delivery company who are excited to see a c. 3% rise in the company’s shares today. But don’t forget it is still down a mere 52% year-to-date! And if you purchased last year’s IPO, I offer you my commiserations.