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Keyword results: shares avoid

TRX
TRX

Tissue Regenix – “product launch” & “distribution agreement”, ramptastic?

Regenerative medical device company Tissue Regenix (TRX) states “following the successful launch of VNEW with ARMS Medical in September 2021, we are very pleased to be continuing our partnership and launching the VNEW Fascia Lata allograft for surgical procedures to support tissue”. So what of a share price response slightly lower to 0.575p?
CAR
CAR

Carclo – already anticipating ‘limited headroom on its interest cover covenant’, now a contract cancellation!

“Contract Cancellation” announcement from Carclo (CAR), which includes that the contract was “expected to deliver incremental sales of between £10m and £15m annually for the life of the contract with the board's most recent expectation being that production volumes would start building from the last quarter of the current financial year”. So what of a current share price response down approaching 9% at 13p, a £9.5 million market cap?
IXI
IXI

IXICO – “a strong set of financial results”, Really?

Medical analytics company IXICO plc (IXI) has announced what it emphasises as “a strong set of financial results… strong balance sheet supports the execution of our renewed five-year strategic plan”. So what of a share price response currently approaching 6% lower at 27.5p, to give a £13.2 million market cap?
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The comedy continues at Moonpig Group

Before we get onto the continuing comedy at Moonpig (MOON), some good news out today for GSK (GSK) and Haleon (HLN) shareholders with some observations about the Zantac (ranitidine) litigation which has hassled both the latter two shares over the last few months.
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VIC
VIC

Victorian Plumbing – full-year results, how’s the “growth journey” now?

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?

GHH
GHH

Gooch & Housego – full-year results vindicate prior caution here

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 – notes re-financing and market share “opportunities” but also a written business collapse

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?

CyanConnode – ‘a world leader’ only updating vaguely and only on revenue?

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?

Pelatro – warns on trading, and what about the balance sheet?

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”.

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One more for the chocolate, rather than Hotel Chocolat, fans

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.

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Strix – another profit warning, argues “a strong balance sheet” but is it?

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!?

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SUP
SUP

Supreme – “a solid trading performance” and “ahead of market expectations”. Really?

‘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?

TON
TON

Titon Holdings – “Trading Update” again, profit (lack of) warning again

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.

RM
RM

RM plc – proposed disposal, ‘continuation of transformation strategy’?

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?

Windar Photonics – “a strong financial position to facilitate the delivery of the order book”?

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 – how “delighted” to be with new collaboration?, how strong is the recovery now?

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?

LPA
LPA

LPA Group – full-year trading update, pressures on trading easing or to continue?

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?

TGP
TGP

Tekmar – renewal of existing facility and financing arrangements, but they insufficient looking ahead?

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?

Best of the Best – trading and expansion progress?, will it sustainably deliver this time?

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?

DIA
DIA

Dialight – emphasises “positive” trading momentum, but how positive and how’s the outlook?

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?

Byotrol – boardroom changes but any changes to concerns on financial performance?

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?

ALT
ALT

Altitude Group – “materially ahead of current market expectations”…but what does that mean at the bottom-line?

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?

OSI
OSI

Osirium Technologies – hopefully my 6 warnings since early July heeded, massively discounted bailout (for now) equity raise

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!?

Northcoders – “pleased to announce” placing for “growth strategy”?

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?

Pod Point Group – “trading statement”, how’s that “dream” on IPO into a reality going?

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?

TheWorks.co.uk – ‘Oops, we forgot about £4 million of debt’… and for a week!

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.

Everyman Media – after prior directorship confusion, another “Directorate Change”

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?

TGP
TGP

Tekmar – proposed investment for “an ambitious plan for growth”, or needed anyway?

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?

MCB
MCB

McBride – AGM trading update, is trading sufficiently improving?

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?

G4M
G4M

Gear4music – interims, how much “confidence” does its latest update really give?

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?

TheWorks.co.uk – half-year trading update, how “resilient” is its performance?

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”?

SMV
SMV

Smoove – interims, “to build on the successes of the first six months”? Er…

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?

Malvern International – placing to redeem loan notes…and what of the other liabilities?

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?

Biome Technologies – shares soar on Q3 trading update, but how’s the cash trajectory?

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?

GYM
GYM

Gym Group – argues now its “offer will be even more compelling and attractive”. Is it?

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?

CMH
CMH

Chamberlin – full-year results state “solid financial base”, so why also an “objective of strengthening the balance sheet”?

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?

Gattaca – full-year results argue “well placed for the future”, so why further share price decline?

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.

Bonhill – another trading warning, just how “strong” is the formal sale process level of interest?

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?

AXS
AXS

Accsys Technologies – “pleased to announce”…a stop to current Tricoya site activity?

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?

FUL
FUL

Fulham Shore – still “in line with management expectations”…but for how long?

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?

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Likewise – having less than five weeks ago stated “the group is well placed”… now a profit warning!

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?

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NWT
NWT

Newmark Security – emphasises current year trading improvement, but how sustainably?

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?

CloudCoCo – argues “strong strategic and commercial progress”…but if EBITDA is bullshit earnings, what is “Trading EBITDA”?!

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?

Virgin Wines – full-year results argue “resilience”… but it’s financial downgrades AGAIN

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.

ALT
ALT

Altitude Group – how “excellent” is its half-year “period of growth”?

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?

ETP
ETP

Eneraqua Technologies – contract wins & order book excitement, but net cash generation?

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?

SUP
SUP

Supreme plc – how ‘pleasing’ really is its first half performance?

‘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.

TWD
TWD

Trackwise Designs – “pleased to announce”…a lower production volumes agreement?

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?

G4M
G4M

Gear4music – half year trading update, how much of an achievement is ‘in-line with recently updated expectations’?

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?

Luceco – profit warning and is the likely overall customer destocking really “unchanged”?

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”?

RBG
RBG

Revolution Bars – argues “exciting and transformative” acquisition, is it?

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.

DX
DX
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DX Group – shares restored to trading, two years corporate governance shambles “concluded”?

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?

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CyanConnode – ‘a world leader’ “delighted” to raise £0.5 million?!

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”.

MJH
MJH
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MJ Hudson Group – expected “audit adjustments”, the vanity of revenue and manipulated bullshit earnings of Adjusted EBITDA?

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?

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TET
TET

Treatt – full-year ‘in line with expectations’…though those were materially reduced less than 2 months ago!

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?

DIS
DIS

Distil – interims, being cautious of the trading and financials correct?

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.

ANG
ANG

Angling Direct – interims state “pleased to have continued to grow sales”… but not anymore?

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.

Thruvision – emphasises revenue growth, but what about the prior comparative and cash flow?

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?

PYC
PYC

Physiomics – again a “Contract Award”, again attempted ramptastic?

“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?

SmartSpace Software – interims, sufficient liquidity to reach net cash generation?

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?

ETP
ETP

Eneraqua Technologies – interims emphasise revenue growth…so what about the bottom-line?

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?

MRK
MRK
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Marks Electrical – states “confident of achieving our full year targets”…as paid-for researcher slashes forecasts. Hmmm!

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?

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Bonhill – further updates, it’s certainly not a ‘pleased to announce, robust’ performance now!

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?

IGE
IGE

Image Scan – warns on trading but argues “retain our optimistic outlook for the future”. Really?

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?

VIC
VIC

Victorian Plumbing – “trading ahead of market expectations”. What, previously massively lowered ones?

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?

NET
NET

Netcall – full-year results, are the ‘growth opportunities’ sufficient?

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?

TPT
TPT

Topps Tiles – “positive progress from all parts of the group”. Er, what about the Topps Tiles brand like-for-like sales decline?!

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?

TPX
TPX

TPXimpact – director share purchases to try to reassure the market rather than of real conviction?

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?

PYC
PYC

Physiomics – “pleased to announce” contract award, attempted ramptastic?

‘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?

CCT
CCT

Character Group – does a latest trading update provide the stabilisation I previously said was required?

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?

TPX
TPX

TPXimpact – ‘digital transformation’ provider struggling with its own transformation!

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?

SCE
SCE
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Surface Transforms – announces another discounted equity raise. For further capacity needs?

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?

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XPF
XPF

XP Factory – interims, was there any positive financial news?

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?

INS
INS

Instem – interims, emphasises revenue increase and adjusted profit… but what about cash?

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.

CNC
CNC

Concurrent Technologies – I having previously warned on its order delivery ability, what do interims say?

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.

CCS
CCS

Crossword Cybersecurity – after previously stating it was “strengthening its working capital… on the back of a positive H1”, a discounted placing (natch!)

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?

SRT
SRT

SRT Marine Systems – AGM trading update, how “material” is the half-year improvement?

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
SRT

SRT Marine Systems – following full-year results, what of the share price fall?

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?

SUP
SUP

Supreme plc – “remains in line with market expectations”… but that really an achievement?

‘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?

CKT
CKT

Checkit – interims argue “accelerating its plan to achieve profitability”, but how’s the sales cycle?

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?

TND
TND

Tandem – interims, reduction in discretionary consumer spending biting?

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.

PREMIUM CONTENT

For me to figure out Dunelm…I am really going to have to visit one of its stores

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?

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CNS
CNS

Corero Network Security – interims emphasise “strong ARR and new business growth”, but what about the bottom-line?

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?

Hotel Chocolat significantly exits the USA – “strong and distinctive D2C brand”?

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?

AXS
AXS

Accsys Technologies – “trading update”, operational and financial troubles remain?

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?

BKS
BKS

Beeks Financial Cloud – “trading update and first Exchange Cloud customer”… but what about cash flow and the contract win already announced?

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?

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Best of the Best – CEO and others so “optimistic and excited” by 'strategic move' they sell £10 million of shares at a discount!

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”?

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XPF
XPF

XP Factory – acquisition of Boom Cardiff and trading (non-)update!

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?

HDD
HDD

Hardide – equity raise. You were warned! Should it be “pleased to announce”?

Surface coating technology company Hardide plc (HDD) states that it “is pleased to announce” that it has successfully completed a fundraising. Should it be?

Bonhill – interims, a ‘pleased to announce, robust’ first half. Really?

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.

TRX
TRX

Tissue Regenix – interims, robust financial and operational performance?

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?

Verici Dx – interims, was the fundraise for accelerated progress or to avert cash crunch ahoy?

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.

AMTE Power – another “Directorate Change” having only listed in March last year?!

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?

Biome Technologies – grant funding, but still how’s the balance sheet?

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?

INS
INS

Instem – “largest ever” contract, but what about the overall financial picture?

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?

FUL
FUL

Fulham Shore – “trading is resilient”, but what is to come?

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 – strategic review, for growth reasons or not?

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?

Malvern International – half-year trading update, “positive about the outlook”. Really?

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?

CyanConnode – is further significant underlying cash burn a ‘successful result’ then?

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?

Immotion – pre-close trading update, again just how “strong” is the trading?

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?

Smartspace Software – emphasises “strong revenue growth”, so why a further share price fall?

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?

TPG
TPG

TP Group – publishes delayed results, contract renegotiations and refinancing needed!

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.

CTA
CTA
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CT Automotive Group – from “excited by the opportunities ahead” to profit warning in less than 8 months. ANOTHER AIM IPO Roll-Call of Shame

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?

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CKT
CKT

Checkit – argues “accelerating its plan to achieve profitability”, but what does that actually mean here?

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?

Digitalbox – trading “significantly ahead of the company's expectations”, so why a share price fall?

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?

HSW
HSW

Hostelworld – interims emphasise “strong month on month growth”, but what does that mean financially?

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%?

ROO
ROO
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By all means have a Deliveroo delivery a couple of times a year…but don’t buy the shares!

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.

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FAB
FAB

Fusion Antibodies – ramptastic patent application announcement, cash sufficient for current requirements?

Fusion Antibodies (FAB) has announced it “continues to work on next generation antibody discovery, and we see significant opportunities in this field… has submitted a patent application in respect of the company's bispecific designs for antigen display”. What of a current approaching 15% share price rise on the back of this to above 100p?

Cordel – “delighted by another major contract win in the UK”, but how major is it?

Transport data technology group Cordel (CRDL) states that it is “delighted by another major contract win in the UK”. So what of the shares currently responding approaching 24% higher to 6.5p?

Nexus Infrastructure – I having previously questioned if its confidence was justified, what of a latest “trading update”?

Previously writing on utilities, civil engineering and energy infrastructure company Nexus Infrastructure (NEXS), last year with the shares at 175p I noted the particularly eSmart Networks trajectory looked interesting but the possible trading recovery required and pre-Covid performance concerns saw these shares only on the watchlist. They last closed at 167p, and why are they currently down to 145p on the back of a “trading update”?

Gama Aviation – states “progressing towards securing the new credit facilities required”. Is it?

Aviation services company Gama Aviation (GMAA) has issued a trading update stating that it “has delivered a solid trading performance in the first half of the year. H1/22 revenues are in excess of $130m (H1/21 $106.4m), up by over 20% on the same period last year… The recovery in activity and revenue growth is expected to continue through the second half of the year with full year Adjusted EBIT expected to remain in line with management expectations”. So what of a share price down from 66p earlier this year at 56.5p?

TheWorks.co.uk plc – “trading update”, I right to have been sceptical of it being able to deliver further sales growth?

Previously writing on arts, crafts, toys, books and stationery retailer TheWorks (WRKS), in May with the shares up to 57p I noted reckons can deliver further sales growth… but consumer pressures starting to bite?. The shares last closed at 46.5p and today a further “trading update”.

INS
INS

Instem – “delighted with the continued successes of our organic and acquisitive growth strategies”. Er!

Describing itself as “a leading provider of IT solutions to the global life sciences market”, Instem (INS) states that it “announces a positive trading update for the six months to 30 June 2022”. How positive?

FLX
FLX

Falanx – argues “far greater” order pipeline, but what about the bottom-line?

Cyber security group Falanx (FLX) has issued a trading update noting full-year organic revenue growth of circa 14% and “the pipeline is not only much larger in terms of financial value but also has a high level of advanced prospects”. So what of a current approaching 22% share price rise to 0.70p?

STM
STM

STM Group – ‘believes profit expectations will be met’, so why the further share price fall?

Financial services group STM (STM) has issued a “Board Changes and Trading Update” including “we will be making a number of appointments in the coming months to refresh the board around the future strategy of the group” and, with “the pipeline remains encouraging”, that it believes full-year profit expectations will be met. So what of a current more than 8% lower share price to 22p, a circa £13 million market cap?

RTC
RTC

RTC Group – interims, is the share price fall justified?

Previously writing on engineering and technical recruitment group RTC (RTC), in March with the shares down to below 30p I concluded the financials including cash burn and near term difficulties meant I certainly continued to avoid. So what now with “pleased to announce” results for the first half of 2022 and the shares at 21.5p?

RMV
RMV
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The world of Rightmove continues to get trickier

In early May I observed that “The Rightmove (RMV) CEO is wise to exit stage left after over 16 years”. The rise and rise of online property porn has been such a huge focus for the average adult over the last twenty of so years. We are - after all - genius new home selectors, ranked only just below the “Location, Location, Location” presentation Gods. So why are Rightmove shares down year-to-date?

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Virgin Wines – “a strong, stable and resilient business model”. Er, what about the financial downgrades then?

Online wine retailer Virgin Wines UK (VINO) has issued a trading update for its year ended 30th June 2022 emphasising “a strong, stable and resilient business model, coupled with disciplined customer acquisition, that delivers market leading profitability”. So why are the shares currently down a further more than 7.5% to 67p on the announcement?

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Everyman Media – “record half year sales and EBITDA”, but how impressive is it?

Premium UK cinemas group Everyman Media (EMAN) has announced “record half year sales and EBITDA… the pipeline for H2 2022 and 2023 is well progressed with a minimum of six further venues contracted to open”. So what of the shares currently moving up to 111p?

TGP
TGP

Tekmar – “continuation of our recent contract momentum”, but what about the balance sheet?

Describing itself as “a leading provider of technology and services for the global offshore energy markets”, Tekmar Group (TGP) has announced “a significant new contract award to supply 100 Cable Protection Systems for use on multiple offshore wind farms in the Shangdong and Guangdong provinces of China”. What of a current more than 5% higher share price response to 11.375p?

TON
TON

Titon Holdings – my prior caution justified; trading warning

Previously writing on ventilation systems and window and door hardware company Titon Holdings (TON), in May with the shares at 75p I noted supply chain, inflationary and consumer pressures and economic activity uncertainty saw me continue to avoid. The shares last closed at 82.5p but are currently back to 75p, a £8.4 million market cap, on a “trading update”.

FUL
FUL

Fulham Shore – “not seen any shift in customer demand”, but it to come?

Previously writing on Franco Manca and The Real Greek restaurants company Fulham Shore (FUL), in December with the shares at 16.75p I questioned whether the ‘ahead of expectations’ justified the valuation. The shares last closed at 11.5p but are currently up to 12.5p on full-year results, so what’s the situation now?

Luceco – half-year trading update, how are the ‘results challenges’ now?

Previously writing on manufacturer and distributor of wiring accessories, EV chargers, LED lighting and portable power products Luceco (LUCE), in May with the shares down to around 145p I concluded I’d await clear evidence of suggested improvement before reconsidering from avoid. So what of now a half-year trading update with the shares at 111.4p?

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The world turns upside down for Hotel Chocolat shareholders!

I am trying to remember the last time I went to a Hotel Chocolat (HOTC) shop. If my memory is correct, it was in the Boxing Day 2019 sale. I cannot remember if I regarded its 50% off prices as cheap or not, but suffice to say it would have felt a bit cheaper than buying before Christmas. I tell you what else has fallen by (nearly) 50% this morning: Hotel Chocolat’s share price! So, what’s been going on at the “Chocolate Gifts & Luxury Presents” company whose “three guiding principles have taken us to over 150 chocolate shops, cafe's, restaurants and even a cocoa estate hotel”?

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Cordel – trading update, how “great” should confidence be for the year ahead?

Previously writing on transport data technology group Cordel (CRDL), in February with the shares falling below 9p I concluded that my prior ‘growth trend’ and cash burn concerns looked to remain valid. So what of now a trading update and the shares currently further lower towards 6p?

AGY
AGY
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Allergy Therapeutics – argues “significant clinical progress”, so why the further share price fall?

Allergy Therapeutics (AGY) has issued a trading update for its year ended 30th June 2022 emphasising “effective cost controls implemented alongside the group's significant clinical progress” and “in 2023, sales are expected to return to their previous near double-digit growth levels”. So what of a current share price response to 17p, approaching 7% lower?

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DPP
DPP

DP Poland – emphasises “strong sales performance”, but what about the bottom-line?

DP Poland (DPP), with the exclusive right to develop, operate and sub-franchise Domino's Pizza stores in Poland, states it is “delighted to see the strong sales performance achieved in the first half of 2022 continuing” and is “confident we will emulate the success of the brand in other markets”. But what’s the detail?

DIS
DIS

Distil – trading slump, stated to ‘largely reflect’ UK business “remodelling”. Why are we only told now?!

Previously writing on alcoholic drinks company Distil (DIS), in April with the shares at 1.4p I questioned ‘pleased to announce campaign to further build RedLeg spiced rum, how’s the balance sheet now?’. The shares last closed at 1.35p but are currently 1.15p, a £7.9 million market cap, on the back of a trading update, so what’s the position now?

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My instincts on PageGroup shares remain unchanged from 1276 days ago!

Back in early 2019 I observed that “you are not 'bonkers' anymore for buying PageGroup (PAGE)...just overly hopeful”. I guess that has proved to be an alright call on the recruitment business, as the stock dropped quite a lot during the early days of COVID-19, rallied back last year, and is currently sitting at a share price below the January 2019 level. How wonderfully dull. So what does today’s “Q2 and H1 2022 Trading Update” tell us?

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RTN
RTN
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Restaurant Group – excitable announcement but real life (and its shares) remains tricky

It is over two years since I wrote about Restaurant Group (RTN) back in June 2020 HERE but despite the world of deep COVID-19 challenges for any restaurant company having improved, the company’s shares are still down over a third since then. And, if you are a fan of the company, don’t even think about the mere 80% share price fall over the last five years. Good job I have never rated it. What is getting the company all excited earlier today?

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System1 – trading “headwinds”, and more of them to come?

Previously writing on marketing decision-making platform group System1 (SYS1), in February with the shares down to around 250p I concluded that they could offer some value but at this valuation I’d still want to see some clear overall delivery towards future expectations. Having last closed at 310p, what of a current 268p share price on the back of latest updates from the group?

Hostmore – “in line with the expectations” set out in May, so what does that mean?

American-themed casual dining brand 'Fridays', cocktail-led bar and restaurant brand '63rd+1st' and fast casual dining brand 'Fridays and Go' company Hostmore (MORE) has issued a half-year trading update emphasising “guidance for the full year remains unchanged, with LFL revenues for the period since 23 May 2022 in line with the expectations set out in the trading update issued on 26 May”. So what of a share price of 35p, comparing to more than 40p in May?

SAL
SAL

SpaceandPeople – trading recovering, but is the balance sheet sufficient?

Retail, promotional and ‘brand experience’ company SpaceandPeople (SAL) has announced “trading during H1-22 continued to recover… confident that this will continue into the traditionally busier second half of the year”. So what of a current share price response to 112.5p, up 12.5%?

TGP
TGP

Tekmar – contract win and cash collection, but are they sufficient?

Energy technology and services group Tekmar (TGP) is pleased to announce a “significant” new contract for an offshore wind farm project and emphasises it “builds on the encouraging contract momentum we have established, highlighted by the record order book of £20.1m we announced with our first half results”. So what of a current share price soaring up towards 12p?

PYC
PYC

Physiomics – hiring of new staff to translate to increased revenue? It looks to need to!

Biopharma technology company Physiomics (PYC) has announced its year ended 30th June performance “in-line with market expectations” and expected increased revenue this year. So what of a current share price response more than 5% higher to above 3p?

KMK
KMK

Kromek – Smiths Detection distribution agreement, but what about financials?

Radiation and bio-detection technology group Kromek (KMK) is “delighted to partner with Smiths Detection… to deliver our solutions to customers across North and South America”. So what of a share price response currently approaching 8% higher towards 10p?

SmartSpace Software – trading update, hybrid working confidence?

Previously writing on ‘smart’ buildings and commercial spaces software company SmartSpace (SMRT), in February with the shares up to 73.5p I concluded that with the financial uncertainty and the valuation I continued to avoid. What now, following a trading update and the shares up in response, though currently 58p?

IQG
IQG

IQGeo – emphasises “important project” selection, but how do the financials look now?

Previously writing on geospatial software group IQGeo (IQG), approaching a year ago with the shares at 122p I concluded the valuation looked challenging. The group has today though announced “Global top 5 telecom operator selects IQGeo” and what of the shares sparking higher towards 140p?

STG
STG

Strip Tinning – “Glazing Contract Wins for EV”, just how “significant” is the new ‘nomination’?

Strip Tinning (STG) “is pleased to announce it has secured a significant new 5 year nomination with BMW for its Glazing division, underlining Strip Tinning's position as a leading supplier of specialist connectors to the Glazing sector for all classes of automotive vehicles manufactured worldwide”. With the shares currently responding more than 6% higher to 105p, just how “significant” is the new nomination?

Immotion – AGM update, just how “strong” is the trading?...

Previously writing on ‘immersive entertainment’ group Immotion (IMMO), with the shares rising above 6p in August last year I concluded that financial factors had seen me remain cautious and that with the market cap above £25 million I continued to avoid. So what of today a “pleased to provide” AGM trading update... and the shares at 3.7p?...

Microsaic Systems – “pleased to announce” trading update. Er, what about ‘profit’ & cash?

Microsaic Systems (MSYS) has issued a “pleased to announce” trading update, emphasising that “the launch of the Microsaic Services Division, earlier this year, has resulted in an uplift of 40% in revenues” and “a healthy order book for H2 2022 which is the strongest ever going in to the second half”. So what of a current little changed 0.08p share price, circa £5 million market capitalisation?...

XPF
XPF

XP Factory – “AGM Statement”, how’s the bottom-line result and balance sheet now?...

Previously writing on a “trading update” from XP Factory (XPF), in January with the shares at 30.5p I questioned what about the bottom-line result and balance sheet? Today an AGM Statement from the company – and the shares currently further down to below 18p. So what’s the situation now?...

Pelatro – “AGM Statement”, what about the recent RNS Reach announcements & broker change?...

Software for customer marketing company Pelatro (PTRO) has issued an AGM Statement including that “contracts announced in the last month in both the telco and the non-telco space demonstrate our continuing success in building the group's recurring revenue base… we are confident of delivering a performance in line with expectations for 2022”. So what of a share price of 27.75p, down from above 40p last Autumn?...

Various Eateries – interims, how’s the ‘building up’ going?...

In September 2020 Various Eateries (VARE) listed on AIM stating it “has successfully raised £25 million… at a price of 73 pence per ordinary share… The net proceeds will principally be used to advance the group's plans to roll out its Coppa Club and Tavolino brands and to fund future activities, possibly including acquisitions”, with founder director Hugh Osmond adding “I helped to build up PizzaExpress out of the UK recession of the early 1990s; we will build up Various Eateries out of the devastation caused by this current crisis”. So what of now-announced results for its half-year ended 3rd April 2022... and a current 48.5p share price?...

TWD
TWD

Trackwise Designs – after a further shameful fundraise, “trading update” share price slump...

Describing itself as “a leading provider of specialist products using printed circuit technology”, Trackwise Designs (TWD) has issued a trading update including that it “expects to deliver FY22 adjusted operating profit, and adjusted profit before tax, in line with market expectations… Cash of £3.2m has been received this month relating to asset financing for capital equipment now on site and commissioned at Stonehouse… will significantly increase Trackwise's production capacity to meet expected demand for Improved Harness Technology across its target markets”. So why currently a more than 18% share price fall below a 50p share price?...

FNX
FNX

Fonix Mobile – shares sales “in order to satisfy strong institutional demand”. A few issues...

Fonix Mobile (FNX) has announced that “selling shareholders… have successfully sold a total of 6,666,667 placing shares at a price of 150 pence per placing share… in order to satisfy strong institutional demand”. If it says so!...

TND
TND

Tandem – recent revenue growth & argues “well placed to ultimately drive growth”, so why further share price decline?...

Sports, leisure and mobility equipment group Tandem (TND) has issued an AGM Statement including on revenue “for the last 7 weeks we were approximately 8% ahead against the comparative period” and “we are well placed to ultimately drive growth, particularly in all forms of e-powered transportation”. So what of a share price currently a further more than 16% down to 250p, a £13.5 million market capitalisation?...

Bonhill – ‘Business Disposal & Trading Update’, “pleased with the performance”?

B2B media group Bonhill (BONH) has announced a “Business Disposal & Trading Update” including that it is now “pleased with the performance… excited by the opportunities and financial performance that the new streamlined business presents”. So what of the shares at 6p, down from above 10p early this year?...

Tasty plc – share price performance tasty for the CEO, not for other investors!...

Previously writing on ‘Wildwood’ and ‘dim t’ casual dining restaurants company Tasty (TAST), in March with the shares at 5.5p I noted that, with performance having benefitted from pent-up demand, disposable income and staycation drivers, it will be interesting how optimistic about even sales performance it is sensible to be now. The shares are now below 4p... and today from the company a “Directorate Changes and Conversion of B Shares” announcement.

TPG
TPG

TP Group – results delay and extension ‘in view of covid impact’. Er...

TP Group (TPG) has issued an “Extension to Publication of Results”-titled announcement and the shares are down from 2.5p to currently 1.85p in response. So what’s going on?...

Cake Box – full-year accounts now also have a ‘technical compliance issue’!...

Specialist retailer of cream cakes Cake Box (CBOX) has announced it will publish full-year results on 27th June following an end of year audit process which has raised “an issue” in terms of the Companies Act 2006 and past dividend payments. Hmmm!

FTC
FTC

Filtronic – “set to exceed market expectations”, but what about the bottom-line and outlook?...

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?...

ANP
ANP

Anpario – AGM update, how much so can it “continue with the profitable development”?

Manufacturer of natural sustainable animal feed additives Anpario (ANP) has made an AGM statement including arguing a “good” sales performance and noting sales price increases, overheads being closely managed and that it is excited by the potential of both existing and new products, along with that a “broad range of products, geographic diversity and strong financial position makes for a robust business and gives us confidence in our ability to navigate the current uncertainties and continue with the profitable development of the company”. So why a current more than 10% lower share price response to 530p?...

DSG
DSG

Dillistone – AGM trading statement, was previous share price fall justified?...

Previously writing on recruitment software and services group Dillistone (DSG), a year ago with the shares falling to 22p I concluded management, recovery, Talentis and overall balance sheet uncertainties meant I continued to avoid. What now following an AGM update... and the shares currently up to 22.5p?...

TGP
TGP

Tekmar – “may not have the necessary cash to make all the required investment to deliver fully the turnaround strategy”. Uh oh...

Previously writing on Tekmar Group (TGP), in November with the shares at 53p I concluded to avoid ( ‘contract award’… but how significant and how’s the financial position?). The shares last closed at 39p and are now slumping below 30p, so what’s going on?...

Pelatro – “pleased to announce” contract win, I wonder why...

Marketing software company Pelatro (PTRO) “is pleased to announce that it has been selected by an African telco to provide its mViva Campaign Management Solution… helped us penetrate the growing African market further”. What of a share price response currently a few percent higher towards 28p?...

Insig AI – data and research agreement, what about the share price response?...

“Data science and machine learning solutions company” Insig AI (INSG) “is pleased to announce that it has signed a data partnership and research agreement with Blurred Global - a strategy advisor on ESG positioning and corporate communications… that work with FTSE 350 corporations”. So what of a current more than 5% share price rise to above 40p?...

COM
COM

Comptoir Group – full-year results, is “great confidence” justified?

Lebanese and Eastern Mediterranean restaurants group with the Comptoir Libanais and Shawa brands, Comptoir (COM) is “pleased to report on the group's annual results for the 52-week period ended 2nd January 2022… look to 2022 and beyond with great confidence” – and the shares have currently responded more than 40% higher towards 8p.

INX
INX

i-nexus Global – interims, is it really ‘a leading provider’ looking to the future with confidence?...

Previously writing on self-described “a leading provider of cloud-based Strategy Execution software solutions designed for the Global 5000” i-nexus Global (INX), in September I concluded it looks to be forget working capital for growth plan, it’s lack-of-sales-revenue cash crunch ahoy… natch still bargepole / sell. What of now half-year results?...

RBN
RBN

Robinson – “inline with expectations”… but what does that mean?...

An AGM statement from plastic and paperboard packaging manufacturer Robinson (RBN) commences, “Group sales in the first four months of the year are 22% ahead” and includes “profits are ahead of the first four months in 2021… profits in the 2022 financial year (excluding the uplift from the profits on disposal of properties) are expected to be inline with expectations, being comfortably ahead of 2021”. So what of a currently unchanged 80p share price?...

Hostmore – from “delivering on our goals” to warning on trading in just over two months...

In mid-March Hostmore (MORE) emphasised “strong financial performance, in our maiden results as a publicly listed company… the growth of the group… delivering on our goals to the benefit of all stakeholders, including our loyal shareholders”. Today a trading update and the shares currently more than 15% lower in response towards 42p...

PEN
PEN

Pennant International – 2021 results, is its 2022 “increasing confidence” justified?

Pennant International (PEN) has announced its 2021 “second half was stronger, generating an EBITA profit of £0.2m” and “the current year has started well. In March 2022, we finally secured the Major Programme for Boeing Defence United Kingdom Limited… the board views prospects for 2022 with increasing confidence”. So what of a current 36.5p share price, down more than 6%?...

VEL
VEL

Velocity Composites – trading update, how’s the balance sheet now?

Aerospace and high-performance composite material kits company Velocity Composites (VEL) has announced a trading update including that it “is pleased to report that Velocity's sales for H1 FY22 are in line with management expectations at £5.9 million (H1 FY21: £4.4 million)… look forward to the future with confidence in the long-term prospects”. The shares have currently responded up towards 20p, though are still well down on levels of early this year.

Pelatro – argues “substantial order book and good visibility over revenues”, but what about net cash generation?

Previously writing on marketing software company Pelatro (PTRO), in January I questioned “in line with expectations”. It now “is pleased to announce today its audited results for the year ended 31 December 2021”, so what’s the story?...

TheWorks.co.uk plc – reckons can deliver further sales growth… but consumer pressures starting to bite?

Arts, crafts, toys, books and stationery retailer TheWorks (WRKS) has issued a full-year trading update including “trading performance… well ahead of pre-COVID levels… net cash of £16.3m… Dividend re-instated; the board expects to recommend a dividend of approximately 2.4 pence per share alongside its FY22 results in September and maintain a progressive dividend policy thereafter”. With though also the EBITDA forecast only “reiterated”, what of a current more than 13% increased share price to 57p?...

Accrol – ‘successfully navigating inflationary pressures and well positioned’. Really?...

“Trading Update - FY22 in line with expectations”-titled announcement from tissue converter group Accrol (ACRL) sounds good given the current macro climate. So what of a current 26p share price?...

Fulcrum Utility Services – “trading update”, turns loss-making on even adjusted EBITDA basis

Fulcrum Utility Services (FCRM) states in a trading update that its “core multi-utility contracting business has remained relatively unaffected by… the UK energy market has continued to experience considerable turbulence”. So what of a current 7.3p share price, down nearly 20%?...

CNC
CNC

Concurrent Technologies – “order book increased”… but what about order delivery ability?

Previously writing on Concurrent Technologies (CNC), in January with the shares at 88p I concluded cautiously. The shares last closed at 87p but are currently below 80p on the back of full-year 2021 results.

TON
TON

Titon – interims, supply chain challenges to start to ease?...

Previously writing on ventilation systems and window and door hardware company Titon Holdings (TON), in February with the shares at 80p I noted it’s further margin pressure ahoy and continue to avoid. The shares last closed at 90p but, on the back of results for its half-year ended 31st March 2022, are currently down to 75p.

HSW
HSW

Hostelworld – “recovery… across all destinations and demand segments”, but what does it mean financially?...

Hostel market-focused online travel group Hostelworld (HSW) has announced an AGM update including “performance to date has been stronger than we had initially expected… we are seeing the recovery continue across all destinations and demand segments. In particular, booking demand into Europe, our largest destination in 2019, has almost fully recovered to 2019 levels with some markets exceeding 100%… trips from the US and Canada into European destinations at 2019 levels”. So what of a share price rising above 86p?...

Best of the Best – “pleased” with performance against most recent guidance. Should it be?...

Online competitions company Best of the Best (BOTB) states it “is pleased… revenue performance for the period has been consistent with the market guidance issued at the time of its interim results on 19 January 2022, with pre-tax profits slightly ahead”. What does that mean re. a share price currently up to 440p?...

SUP
SUP

Supreme plc – McColl's ‘clarification’, “continues to trade well”?...

Previously writing on consumer goods manufacturer, supplier and brand owner Supreme plc (SUP), in April the shares were down to 155p. They’ve recently though fallen further to 135p and it now announces a clarification on McColl's, a seller of its products.

Midwich – ‘in line and look forward with confidence’, but what does that mean financially?...

AV distributor to trade Midwich Group (MIDW) has made an AGM statement including that “trading in the first four months of the current year has been in line with the board's expectations and we look forward with confidence”. What of a share price currently slightly higher in response at 582p and therefore a £517.3 million market cap?...

FAB
FAB

Fusion Antibodies – trading update, cash sufficient for “current requirements”?...

Fusion Antibodies (FAB) has announced a trading update for its year ended 31st March 2022 and that “the number of customer enquiries being received for all of the company's services remains strong, and in H2 of FY2022 the company strengthened its commercial team”. So what of a current 67p share price?...

CMH
CMH

Chamberlin – property sale and leaseback, for growth strategies or not?...

Castings and engineering company Chamberlin (CMH) is “pleased to announce” it has exchanged contracts for a property sale and leaseback with £1.25 million of proceeds. What of a share price response up towards 5p?...

Luceco – states results challenges “previously highlighted”. Were they?...

Manufacturer and distributor of wiring accessories, EV chargers, LED lighting and portable power products, Luceco (LUCE) has announced “Q1 2022 revenue was 3% lower than Q1 2021”, though states that is with it having “previously highlighted the challenge of repeating 2021's record results, which delivered adjusted operating profit more than double pre-COVID 2019 levels, including a particularly strong H1 2021 performance”. So why a current share price response to around 145p, more than 25% lower?!...

DRV
DRV

Driver Group – CFO appointment, but is there to be a significant second half improvement?

Professional services consultancy to the construction and engineering industries Driver Group (DRV) “is pleased to announce the appointment of Charlotte Parsons to the board as Chief Financial Officer, with effect from 20 July… as the company executes on the delivery of its strategic plans for growth and of sustainable long-term value creation for our investors”. So what’s the outlook from a current 27p share price?...

Vianet – “pleased to confirm the strong recovery”, so why a further share price fall?...

Data and business insight technology group Vianet (VNET) states it is “pleased to confirm the strong recovery in the group's revenues through H2, with full year turnover expected to be up 55% to almost £13.0m… Operating profit is anticipated to be £2.2m… we are excited about our sales pipeline”. So what of a current further share price fall to 90p?...

Insig AI – “pleased to announce” contract win & update, but what about funding?

Insig AI (INSG) “is pleased to announce that a London based alternative investment manager with in excess of $1 billion of assets under management has signed a development contract to deliver a centralised cloud-based data infrastructure”. With also a trading update and board changes, what of a current 28.5p share price?...

PREMIUM CONTENT

Schroder UK Public Private Trust (Former Woodford Patient Capital) – 2021 Results And Why The Shares Have Much Further To Fall

The Schroder UK Public Private Trust (SUPP) (formerly Woodford Patient Capital Trust, WPCT) announced its full year results for calendar 2021 on Thursday. The headline was that NAV was, after the company’s three-monthly recalculation with regard to its unlisted dross, 48.08p – strongly up from 35p at FY20. So good news?

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Bonhill – 2021 results & fundraise, how was the balance sheet?...

Previously writing on B2B media group Bonhill (BONH) I noted that it proposed to raise approximately £1.1 million at 5.5p per share via a placing and open offer it stated “for working capital purposes” but I suggested to avert cash crunch ahoy. Now further fundraising detail along with calendar year 2021 results.

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