Results

Eagle Eye Solutions – from “confident” of sufficient headroom, to John Lewis ‘pump’, to...

Published 9 hours ago

In March I questioned whether the balance sheet of Eagle Eye Solutions (EYE) was sufficient despite the company stating it was confident of sufficient headroom to support its current strategic ambitions. It is now “pleased to confirm… 2,666,667 ordinary shares have been conditionally placed… at a price of 225.0 pence per placing share to raise approximately £6.0 million (before expenses)”. Hmmm…

Plastics Capital – placing to help “satisfy increasing demand”, but also dividends ‘suspended’. Hmmm…

Published 1 day ago

“Placing to raise £3.74 million” announcement from Plastics Capital (PLA), including to enable it “to satisfy increasing demand for the group's products and thereby accelerate organic growth”. With also a relatively limited 4.5% discount to the prior 122.5p closing share price, sounds reasonable enough. But what’s that? It is to “be augmented by the decision of the board to suspend dividend payments for at least the next two scheduled payments”. Hmmm...

Petrofac – shares crash further on update on SFO investigation

Published 2 days ago

An “Update on Serious Fraud Office Investigation and Board Change” announcement from Petrofac (PFC) sees the shares currently crashing further in response...

PhotonStar LED – results see CEO McKenzie claim “steady progress”, so why are the shares a further more than 7% lower?

Published 3 days ago

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

Aeorema Communications – 1:01pm “Trading Update” announcement. Uh oh…

Published 4 days ago

Aeorema Communications (AEO) has followed a 12:43pm profit warning ah sorry, “Trading Update” announcement, in December with a 1:01pm “Trading Update” announcement today. I’ll give you whatever odds you want on this being good news…

Infrastrata – cash crunch & sack-the-board General Meeting ahoy… so it’s strategic review time!

Published 5 days ago

Having bought itself some time by declaring an initial sack-the-board General Meeting requisition “invalid” (a revised, valid requisition announced by it at an attempted ‘no one watching o’clock’, 5:15 pm, on Friday), Infrastrata (INFA) has this afternoon made a “Review of stategic options & project update” announcement...

Revolution Bars – from ‘platform to be confident about our prospects’ to profit warning in less than 3 months

Published 8 days ago

“Trading Update” announcement from Revolution Bars (RBG). With the shares having been falling from above 210p earlier this week, what the chances that it is positive news?...

Plexus Holdings – another warning as conditions remain “challenging”

Published 11 days ago

“Trading Update” announcement from Plexus Holdings (POS) includes early that “although Plexus continues to pursue a number of specific opportunities in the North Sea and overseas, where discussions are progressing well, some of these are taking longer than anticipated to conclude” and that “a number of encouraging new contracts are currently being negotiated and are now likely to be concluded early in the next financial year, to June 2018”. Uh oh…

RhythmOne – argues “returns to full-year underlying profitability”, but it’s again net cash burn…

Published 11 days ago

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

Photonstar LED – thanks Nigel & a few more things…

Published 23 days ago

Nigel Somerville commented earlier on how for those suckered in by the Photonstar LED (PSL) ramparoonie, it’s now mega-dilution ahoy (monster-discount placing shares representing a 19.8% increase in the issued share capital). I thank Nigel for the kind words – and make a further few points…

Hayward Tyler – Takeover Panel extension, loan repayment can again kicked slightly further down the road

Published 29 days ago

Engineering group Hayward Tyler (HAYT) has updated on its bank facilities and that, at its request, the Takeover Panel has consented to an extension of the deadline for a possible offer for the company by Avingtrans plc…

PhotonStar LED – shares 'roof it' on a “proposed roll out” announcement. Hmmm…

Published 29 days ago

Shares in PhotonStar LED (PSL) are currently roofing it on the back of a “Proposed roll out of Halcyon IoT platform” announcement. Let’s review…

Richoux – review as shares crash on full-year results announcement

Published 30 days ago

I looked at Richoux Group (RIC) in October – review as shares soar on appointment of founder and former CEO of Prezzo – and today note the shares currently more than 27% lower, at 20p, on the back of a results announcement for the company’s year ended 25th December 2016...

Hayward Tyler – does trading update support recently stated “good progress”?

Published 37 days ago

Last week I questioned stated “continued good progress” by Hayward Tyler (HAYT), with it having produced a profit warning as recently as 20th February. The following updates with the shares currently on the rise, at around 55p, on the back of a trading update the company “is pleased to provide” for its year ended 31st March 2017…

Lombard Risk Management – emphasises ahead of expectations, but what about sustainable cash generation?

Published 38 days ago

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

Westminster Group – emphasises “pleased” & placing “oversubscribed”. Hmmm…

Published 38 days ago

Westminster Group (WSG) “is pleased to announce a placing” (to raise a gross £1 million at 10p per share) and “the conversion of the balance of the convertible loan notes issued to Darwin Capital Ltd eliminating the facility”. The shares have though responded more than 15% lower…

Gattaca – from confident of profit “in line” to 10-15% below expectations in 10 weeks

Published 44 days ago

Engineering and technology recruitment company, Gattaca (GATC) has updated that “the board has reviewed its outlook for the remainder of the year to 31 July 2017 and now believes that profits for the year will be approximately 10-15% below its prior expectations”. Uh oh…

Hayward Tyler – reports “continued good progress”, what about the February profit warning?

Published 45 days ago

Hayward Tyler (HAYT) has announced £3.7 million of new order wins, emphasising these “in addition to those already announced in March as evidence of our ability to convert our strong pipeline into order intake”. Hmmm, this follows a profit warning as recently as 20th February though…

Inspirit Energy – half-year results claim “adequate resources”. Really?...

Published 47 days ago

Having featured in the ‘New Year bury bad news stakes’ and with questions having been raised about CFO Nilesh Jagatia, I note shares in Inspirit Energy (INSP) remain in the doldrums following half-year results announced on 31st March. I also note the announcement was made at 9.49am. An attempt to miss the usual 7am RNS scrutiny?...

DP Poland – 2016 results emphasise strong sales & roll-out, BUT…

Published 61 days ago

The 2016 calendar year results announcement from the company with the exclusive right to develop, operate and sub-franchise Domino's Pizza stores in Poland, DP Poland (DPP) is headlined; “Accelerated store roll-out and strong like-for-likes drive sales volume and improved contributions from corporate stores and commissary”. Hmmm, let’s take a closer look…

Flowgroup – energy supply business disposal & microCHP boiler production updates

Published 64 days ago

Writing last month on Flowgroup (FLOW) I noted the shares down below 6p, having been 25p+ less than a year ago. Having fallen further, to sub 4p, they have currently recovered to 5p following a couple of recent announcements…

Solid State – full-year trading update, what does “broadly in line” mean here?

Published 65 days ago

Specialist electronic equipment manufacturer and components distributor Solid State (SOLI) has made a “Trading Update” announcement – and the following reviews with the shares currently more than 10% lower, at around 450p, in response…

WYG – from “good forward visibility” in December to now a profit warning from the 2016 AIM Awards ‘Best Investor Communication’ winner!

Published 65 days ago

“Trading Update” announcement from WYG plc (WYG). Should be ok as the company’s December half-year report emphasised “a sound platform from which to deliver a full year performance in line with current market expectations”, with “good forward visibility” (as well as noting its “winning the Association for Consultancy and Engineering's Best UK Business Performance Award for a large firm and the AIM Awards Best Investor Communication Award”). Er, what? The shares currently down approaching 20%, at just over 100p?!?...

DX Group - boardroom change General Meeting requisition follows recent planning & trading despair

Published 66 days ago

With planning despair following trading despair recently, there is now a boardroom change General Meeting requisition at DX Group (DX.)…

Earthport – interims argue ‘confidence in continued growth & prospects’, but include a net cash generation warning

Published 67 days ago

Cross-border payments network company Earthport (EPO) is “pleased to announce” results for its half year ended 31st December 2016. This is with stated “highlights” including 5 million transactions (prior year corresponding period: 2.7 million) and payment volume of $7.80 billion (prior year corresponding period: $3.95 billion) – and CEO Hank Uberoi emphasising “confidence in our continued growth and prospects”. Why then are the shares currently more than 8.5% lower, at 24p?...

Audioboom – BOOM! Discounted fundraising follows bullish ‘KPI’ update earlier this month

Published 67 days ago

Noting the balance sheet position (and related-party transactions) suggested continued caution, I previously updated on spoken-word audio platform company Audioboom (BOOM) earlier this month as the shares were recovering above 3p on the back of a “First Quarter KPI Update” announcement. Now BOOM – it’s discounted placing ahoy!...

CAP-XX – interims argue “excellent progress”, but financials look CrAP (XX)

Published 68 days ago

Self-described “world leader in the design and manufacture of supercapacitors, which considerably extend the performance of batteries”, CAP-XX (CPX) has announced results including that it “has again made excellent progress over the six months to 31 December 2016 and beyond in building on and refining its strategy”. Sounds positive. What? The shares currently 16% lower, at 8.5p?!?…

CyanConnode – ANOTHER funding!, just how frequently does it require support on ‘journey to commercialisation’?

Published 71 days ago

CyanConnode (CYAN) is “pleased to announce” a successful equity raise of 1,906,912,392 new shares at 0.17p each. Hang on, haven’t I already heard similar since previously reviewing in August?...

Ilika – CEO argues “growing confidence in our licensing model”, but in reality it’s forecasts slashed

Published 71 days ago

Self-described “pioneer in materials innovation and solid-state battery technology”, Ilika (IKA) has followed recent “Toyota Funds Collaboration with Ilika” and “Collaboration with Galvani Bioelectronics” announcements with a “Trading update” commencing with that such deals “are resulting in a strong ramp-up of revenue relative to 2015/16”. Good, good… You what? The shares currently down circa 15%, approaching 40p?!?...

Seeing Machines – interims include “multi-sector strategy continues to gain momentum”, but also “reduced expectations”. Er…

Published 72 days ago

“Seeing Machines (SEE), the AIM listed technology company with a focus on operator monitoring and intervention sensing technologies and services is pleased to announce its unaudited financial results for the six months to 31 December 2016” and CEO Ken Kroeger is “pleased with the progress towards the achievement of our long-term goals as our multi-sector strategy continues to gain momentum”. Good, good… er, what? The shares currently more than 15% lower in response?!?...

Zinc Media – emphasises EBITDA profit for "first time in recent years", so why are the shares materially lower?...

Published 72 days ago

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

Kalibrate Technologies – interim results show how ‘bullshit earnings’ were the previously announced EBITDA

Published 73 days ago

After a profit warning in January, CEO of Kalibrate Technologies (KLBT), Bob Stein, is “pleased to report our results for the six months ended 31 December 2016. Hmmm. The shares have responded lower, back below 60p…

Eagle Eye Solutions – interim results & Europe partnership, balance sheet “sufficient”?

Published 74 days ago

Having previously emphasised caution on digital promotions technology company Eagle Eye (EYE), I note the shares currently circa 6% higher today at 145p on the back of results for its half year ended 31st December 2016 and a partnership to deliver digital loyalty solutions in Europe with retail marketing company TCC Global…

7digital – completion of share placing, broker updates

Published 75 days ago

Following its 2016 results, digital music and radio services group 7digital (7DIG) has successfully placed 34,769,239 new shares at 6.5p to raise a gross approximately £2.26 million and house broker, finnCap, has updated on the company's manoeuvrings...

eServGlobal – argues breakeven ahoy after 2016 “turnaround”. Hmmm…

Published 75 days ago

Having recently recovered to comfortably above 7p, shares in eServGlobal (ESG) are currently sliding back towards that level despite an AGM Statement including “we expect sufficient order flow in H1 to support our outlook of breakeven in the core business in the 12 months to 31 October 2017, and progress by HomeSend remains consistent with reaching a breakeven point during this calendar year”

Goodwin – 2:15pm ‘Interim Management Statement’ a cause for alarm?

Published 77 days ago

Previously writing on engineering company Goodwin (GDWN) in September with the shares at 1980p, I concluded that the energy industry environment saw me cautious and avoiding the shares. They were little changed on the prior 1895p close before an “Interim Management Statement” announcement at 2:15pm. A cause for alarm?...

7digital Group – 2016 results argue “good progress” & “ideally positioned”, so why are the shares lower?

Published 78 days ago

Digital music and radio services group, 7digital (7DIG) has announced results for the 2016 calendar year, including that this “was a year of good progress… as we delivered on our commitment to reach operating profit by the year end” and that it “is ideally positioned to capitalise on the continued growth of streaming in 2017 and beyond”. So why are the shares currently approaching 7% lower, at 6.75p?...

Portmeirion Group – looking through the 2016 results spin…

Published 79 days ago

Shares in Portmeirion, Spode, Royal Worcester, Wax Lyrical and Pimpernel homewares group Portmeirion (PMP) are currently slightly lower despite it “delighted to be reporting an eighth consecutive year of record revenue”, this up by £8 million (11.7%) to £76.7 million…

Dialight – 2016 results review as share price recovery continues

Published 81 days ago

Previously writing on LED lighting technology company Dialight (DIA) I noted somewhat of a share price recovery to 759.5p, but that ahead of the results for the 2016 calendar year I avoided. The following now reviews post those results – and with the shares having risen further…

Audioboom – claims “impressive KPI performance”, but what about cash?

Published 85 days ago

Shares in spoken-word audio platform company Audioboom (BOOM) are currently recovering above 3p on the back of a “First Quarter KPI Update” announcement. Hmmm, let’s take a look…

BATM – March 2017 announcement of “delay in revenue” (& profit warning) for 2016!?!...

Published 85 days ago

Earlier this week, BATM Advanced Communications (BVC) announced “an update on trading for the year ended 31 December 2016”. This includes notice of “certain expected revenue streams falling outside of the period”. And this hasn’t been announced until March 2017?!?...

Molins – 2016 results, argues “confident” so why are the shares down?

Published 86 days ago

An early this year recovery in shares in Molins (MLIN) is currently continuing to reverse on the back of its announcement of results for the 2016 calendar year…

Hayward Tyler – further extension of debt repayment, what of funds recently raised?

Published 87 days ago

My previous update on engineering group Hayward Tyler (HAYT) noted “repayment of £2.4 million of short term banking facilities, currently extended to 28 February”. The following updates with the shares currently further below 40p on the back of an “Update on banking support” announcement...

Volex – updates that “profitability has improved”, but what about cash generation?

Published 89 days ago

Having previously concluded it understandable that they remain below 40p, I note shares in Volex (VLX) currently rising above this level on the back of a “Trading Statement” announcement…

Monitise – reckons half-year results demonstrate transformation programme working. Hmmm…

Published 93 days ago

A half-year results announcement from cash guzzler (Oops sorry, “digital technology group specialising in financial services”), Monitise (MONI) emphasises “our transformation programme is nearing completion, and continued half on half EBITDA profitability demonstrates that it is working”. Hmmm, EBITDA is though of course bullshit earnings, so what’s the real story?...

AO World – claims ‘delight’ at directorate change, so why announced at ‘no-one watching o’clock’?

Published 93 days ago

Yesterday saw an attempted ‘no-one watching o’clock’ (4:36pm) “Directorate Change” announcement from AO World (AO.). The following reviews with the shares currently more than 3% lower today, below 150p…

Hotel Chocolat – strong half-year results & “confident of further progress”, but are the shares a buy?

Published 94 days ago

Having to-date been sceptical on shares in chocolatier and retailer Hotel Chocolat (HOTC), I note they currently higher on the back of results for the company’s half-year ended 25th December 2016...

OneView – as shares soar on “Multi-Million Dollar” agreement, caveat emptor?

Published 94 days ago

Shares in OneView Group (ONEV) are currently soaring ahead on the back of a “Multi-Million Dollar Cloud-Based Hosting Agreement”. With I previously having been bearish here and the ramptastic use of “Multi-Million Dollar” in the announcement title, does this remain a case of caveat emptor?...

Hayward Tyler – second half weighting, though not ‘as expected’…

Published 96 days ago

An update from engineering group Hayward Tyler (HAYT) commences that, “as expected”, there is proving to be a second half weighting “with aggregate order intake of £24.3 million secured in the four months to 31 January 2017… and a significant increase in the order book to £52.2 million”. Sounds promising… but what? “The board now anticipates reporting lower revenue for the financial year ending 31 March 2017”?!?...

Driver Group – full-year loss & bailout fundraising. “Renewed confidence”?

Published 99 days ago

Driver Group (DRV) has announced self-admitted “disappointing” results for its year ended 30th September 2016 and a bailout fundraising, though argues that stakeholders should soon be able to “look forward to the future with renewed confidence”. Hmmm...

Tracsis – “pleased to provide” half-year trading update, so why are the shares slumping?

Published 101 days ago

Provider of software and services for the traffic data and transportation industry, Tracsis (TRCS) “is pleased to provide” a trading update for its half year ended 31st January 2017. Why then have the shares currently responded more than 13% lower, towards 400p?...

Surface Transforms – claims “successful six months”. In response… the shares slide...

Published 102 days ago

Surface Transforms (SCE) has announced results for the six months ended 30th November 2016, claiming “a tough, albeit exciting and successful six months”. The shares have responded… approaching 7% lower, towards 20p. Hmmm…

BrainJuicer – 2016 results, emphasises “strong performance” & “confident”. BUT…

Published 106 days ago

Marketing and market research group BrainJuicer (BJU) has announced results emphasising “strong performance in the first half of 2016 continued over the second six months” and “we are pleased with the continued progress across the business and remain confident in its long-term potential”. However, the shares have responded lower to sub 700p…

Flowgroup – “welcomes” UK government announcement, surely this market promising again for it then?, Er…

Published 107 days ago

Flowgroup (FLOW) has ‘welcomed’ an announcement following government Feed-in Tariff review, adding it believes the statement is “the result of significant co-ordinated industry pressure, in which the company played a key role”. Good, good, the UK market promising again for it then? Er…

Flowgroup – “pleased to announce” update, but bailout placing to be required?

Published 108 days ago

Flowgroup (FLOW) “is pleased to announce that it expects to announce its results for the year ending 31 December 2016 during May 2017. The company expects its trading results to be in line with analysts' forecasts”. Hmmm, so why are the shares currently down a further more than 8%, below 6p, having been 25p+ less than a year ago?...

Entu – trading update states ‘in line’, so why are the shares approaching 9% lower?

Published 109 days ago

“Trading Update” announcement from Entu (ENTU) opens with that adjusted EBITDA “is expected to be within the range previously announced” and that exceptional costs relating to planned cost-saving processes are also expected to be “in line with management's previous expectations”. So why are the shares currently approaching 9% lower, towards 23p?...

Accesso – why just 1.5% share price rise for profit “ahead of expectations”?

Published 110 days ago

Shares in leisure industry technology provider Accesso (ACSO) are currently a further 1.5% higher, above 1550p, on the back of a trading update including that for 2016 the company “expects to be ahead of expectations with respect to profitability” and “a strong start to 2017”...

Eagle Eye Solutions – having questioned whether it was cash crunch ahoy... “Extension of credit facility”

Published 110 days ago

While an update last week from digital promotions technology company, Eagle Eye Solutions (EYE) claimed “confidence in the group's prospects”I questioned whether it was cash crunch ahoy. There is now an “Extension of credit facility” announcement...

Vislink – “Completion of Disposal”, deferred consideration within 45 days?

Published 113 days ago

Vislink (VLK) has announced that it has changed its name to Pebble Beach Systems Group (PEB) following ‘completion’ of the disposal of its hardware division, with “in accordance with the terms the deferred consideration is due to be paid within 45 days of completion”. Hmmm...

Zamano – from ‘focus on maximising cashflow from existing business’ to ‘winding down business lines’ in just over 2 months!

Published 113 days ago

Having stated in September that it “continues to focus on M&A activity and pursue higher value-added business” and then in November that it “has decided to cease all ongoing M&A discussions and focus on maximising cashflow from the existing business”, Zamano (ZMNO) has now updated that “the board believes that it is necessary for the company to take the decision to formally wind down the existing business lines in order to protect the cash position on the balance sheet”!?!

Surface Transforms – claims “strategically important” contract win, but how’s the cash burn?

Published 113 days ago

Manufacturer thus far of largely jam tomorrow Oops, of carbon fibre reinforced ceramic brake discs, Surface Transforms (SCE) has announced what it describes as a “strategically important” contract win – and the shares have responded approaching 10% higher, to 23.5p. BUT…

Anpario – “adjusted profit performance in line”, so why are the shares on the slide?

Published 114 days ago

A trading statement from producer of natural feed additives for animals, Anpario (ANP) includes that the company “delivered a strong and improved second half revenue and adjusted profit performance in line with market expectation”. So why are the shares currently on the slide?...

Earthport – “trading statement”, why no update on progress to cash flow positive target?

Published 115 days ago

Payment network company Earthport (EPO) has updated that it “is encouraged by the recent developments within the company, particularly in relation to the increasing transaction and aggregate payment volumes being placed through Earthport's platform by its clients”. However, with the shares recovering from sub 13p hit last year to now approaching 25p (although still down from more than 45p as recently as September 2015), is a circa £120 million market cap justified?...

Adgorithms – claims trading “in line”, so why are the shares crashing again?

Published 115 days ago

Online advertising software company Adgorithms (ADGO) has updated that it “continues to execute its stated growth strategy and expects trading for the year ended December 2016 to be in line with management's expectations”. So why are the shares currently 25% lower, at 16.5p?...

Eagle Eye Solutions – claims ‘confidence in prospects’, but cash crunch ahoy?

Published 115 days ago

Digital promotions technology company, Eagle Eye Solutions (EYE) has updated that during its half year ended 31st December 2016 it “has continued to trade well delivering revenue… ahead of market expectations”. But what’s that? A swing into a net debt position. Uh oh…

Card Factory – trading statement sees return of like-for-like’s, wonder why they went away?

Published 121 days ago

Having previously noted on Card Factory (CARD) slowed sales growth & where are like-for-likes?, I now note “Trading Statement” and “Directorate Change” announcements from the cards and gifts retailer...

Kalibrate Technologies – profit warning from leading 'bullshit earnings' exponent

Published 123 days ago

Shares in provider of bullshit earnings (Oops sorry, “provider of strategy and technology services to the global fuel and convenience retail industry”), Kalibrate Technologies (KLBT) are currently more than 18% lower, at 57.5p, on the back of a “Trading Update” announcement. Profit warning AHOY!...

Braemar Shipping Services – follows August’s profit warning, with another…

Published 124 days ago

Previously writing on Braemar Shipping Services (BMS), I suggested that holding, at the then 370p, was only for the very brave or very patient and that I’d avoid. Hopefully that was heeded as another “Trading Update” announcement today is another profit warning – and sees the shares currently down towards 250p…

BrainJuicer – more detailed trading update sparks shares further higher

Published 126 days ago

With a trading update last month having sent shares in market research group BrainJuicer (BJU) higher above 500p, a further update has now helped them to 675p…

Biome Technologies – trading update, sales struggle against even recently reduced guidance

Published 127 days ago

Shares in Biome Technologies (BIOM) have retained a slight recovery above 100p following a 2016 “Pre-close Trading Statement, though “the board expects the loss before interest, tax, depreciation and amortisation… to be similar to the level achieved in 2015”

Bonmarche – trading update emphasises expectations unchanged, BUT…

Published 127 days ago

Shares in women's value retailer Bonmarche (BON) are currently recovering more than 7.5%, to 85p, on the back of a trading update which notifies of 3.3% sales growth in the 13 weeks ended 24th December and that “the company's financial position remains sound and the board's expectation for the full year is unchanged”. However,…

Portmeirion – ‘slightly ahead of expectations’ & “record revenues” not as positive as they’d seem…

Published 128 days ago

PortmeirionSpodeRoyal Worcester and Wax Lyrical homewares group Portmeirion (PMP) “is pleased to confirm that it expects profit before taxation for the year to 31 December 2016 to be slightly ahead of market expectations”. BUT…

GAME Digital – claims “pleased” with performance over peak weeks, BUT…

Published 129 days ago

Previously writing on GAME Digital (GMD) with the shares at 67p, I concluded bearishly HERE. The following updates with the shares currently down further, at sub 60p, on the back of an “AGM Statement and Trading Update” announcement…

WANdisco – one quarter does not an investment make, but offers some encouragement for shareholders…

Published 131 days ago

Shares in ‘big data’ software company WANdisco (WAND) are currently continuing a recovery – this on the back of a concluding trading update for 2016...

SIG – trading update review as shares rise

Published 134 days ago

Shares in building products distributor SIG plc (SHI) are currently recovering approaching 11%, above 100p, on the back of a “Trading Update” announcement…

CloudCall – Trading Update emphasises positives, but it remains cash burn ahoy!

Published 136 days ago

Integration of telephony systems into existing customer relationship management software-focused CloudCall (CALL) is “pleased to announce” a full-year trading update – and the following reviews with the shares currently more than 17% higher, at 76p, in response…

SpaceandPeople – as warned, profit warning ahoy!

Published 138 days ago

Updating on the previous announcement from SpaceandPeople (SAL), I warned that half-year results suggest it’ll be profit warning ahoy! And now…

Crawshaw – argues “we continue to be encouraged”, the market isn’t…

Published 141 days ago

Fresh meat and food-to-go retailer, Crawshaw (CRAW) has updated on trading including “we have continued to build on the progress noted in our last update with the improvements in sales and customer numbers being maintained through December as planned” and “we continue to be encouraged by the customer response to the recent changes we've made”. So why are the shares currently approaching 8% lower, at 23.5p?...

Hayward Tyler – “pleased to announce” an issue of loan notes, I bet it is…

Published 156 days ago

Having recently required a “£3 million increase of committed banking facilities and relaxation of financial covenants”, Hayward Tyler (HAYT) is now “pleased to announce” an issue of loan notes…

Pittards – not a wonderful time of the year here AGAIN, profit warning…

Published 157 days ago

This does not seem to be a wonderful time of the year for leather goods producer Pittards (PTD). In 2014, there was shocking news it didn’t tell of, last year a 23rd December “materially below” expectations profit warning and this year we now have a “Situation in Ethiopia and Trading Update” announcement. As you may have guessed, it ain't good...

Digital Barriers – another contract announcement. Rampity, ramp?

Published 159 days ago

Following contract wins announced at the start of the month, Digital Barriers (DGB) is now “pleased to announce that it has secured a $2.1 million contract for its unique ThruVis standoff threat detection camera”. The shares are currently up a tad to 36.5p in response, but…

Molins – seeks to emphasise “positive” recent order intake, but for this year it’s another profit warning

Published 166 days ago

After August “Half-year Report” announcement = Profit Warning from Molins (MLIN), we now have a “Trading update” announcement which is a further profit warning – seeing the shares down from my bargepole conclusion at 53.5p to a current sub 50p…

BrainJuicer – “above current market forecasts” trading update, but value in the shares?

Published 168 days ago

Market research group BrainJuicer (BJU) has updated that it is “confident” of profit for the 2016 calendar year “above current market forecasts” - sending the shares more than 8% higher towards 540p…

Waterman Group – positive AGM statement, but…

Published 169 days ago

Engineering and environmental consultancy group Waterman (WTM) has updated on performance in conjunction with its AGM – and the following reviews with the shares presently 3% higher at 84p…

John Lewis of Hungerford – full-year results, “fifth consecutive year of sales growth” BUT…

Published 171 days ago

Specialist kitchen manufacturer and retailer John Lewis of Hungerford (JLH) has announced results for its year ended 31st August 2016 – including a “fifth consecutive year of sales growth, which exceeded £8 million for the first time”. However…

CAP-XX – was pleased with commercialisation progress, now lower prices in ‘response to customer demands’. Hmmm…

Published 171 days ago

Having in its October full-year results announcement been “pleased with the progress made in commercialising our small and large supercapacitor products”, CAP-XX (CPX) has now announced it has “responded to the demands of our international customer base… significant production cost savings on its supercapacitor solutions for both passenger vehicle and heavy vehicle automotive applications”. Hmmm…

Dialight – now targeting “materially ahead of expectations”. But…

Published 171 days ago

LED lighting technology company, Dialight (DIA) has updated that “following a good November performance and looking forward to the prospects for December, the group is now targeting an underlying EBIT (including FX) for the year ending 31 December 2016 materially ahead of expectations”. But…

Aeorema Communications – 12:43pm “Trading Update”. Uh-oh…

Published 173 days ago

A 12:43pm “Trading Update” announcement from live events agency Aeorema Communications (AEO). Clearly not scheduled – and thus clearly unlikely to be positive…

James Halstead – AGM statement notes FX benefits & ‘confidence in prospects’, so why are the shares down?…

Published 176 days ago

Writing on commercial flooring company James Halstead (JHD) in August I concluded that the circa 426p per share valuation deterred me. The shares have recently risen towards 500p but despite now updating that “the fall in the value of Sterling following the referendum vote of June has contributed to increased margins on our overseas sales, increased competitiveness and positive growth” and noting confidence “in the prospects of the company going forward”, the shares are currently approaching 6% lower today, back towards 450p...

Scholium Group – half-year results admit non-delivery of the expected return on increased capital…

Published 177 days ago

I previously warned on rare books and collectibles group Scholium (SCHO) on the back of an October trading statement – and the shares are currently further lower, at 34p, on the back of the results announcement for the company’s half-year ended 30th September 2016…

Crawshaw – claims “good progress restoring sales momentum”. Hmmm…

Published 179 days ago

Last updating on fresh meat and food-to-go retailer, Crawshaw (CRAW) in September as the shares fell below 35p I particularly noted a first 7 weeks of the second half -15.8% like-for-like sales setback. With the company noting a further share price decline towards 20p, there is now a further “Trading update”

Hayward Tyler – “momentum is continuing to build”, but it needs to…

Published 179 days ago

Engineering group Hayward Tyler (HAYT) has recently been “pleased to announce a series of contract wins, totalling in excess of £4.5m which… confirm that momentum is continuing to build”. However, the shares remain down on the year at a current 83.5p…

Filthy 40 China Africa: restructuring EGM Circular released, correction and apology, but value at the current price?

Published 181 days ago

The details have been announced: out of cash ShareProphets AIM-China Filthy Forty play China Africa resources (CAF) is proposing to divest its existing asset to its shareholders by way of an in specie special dividend (apparently valued at 1.75p per share) to leave a clean (and rather empty) cash shell. New money is coming in at just 2.17p a share, with a new board, a new business model and a new set of advisers. Against an IPO price of 40p a share back in 2011, China Africa has been a stunningly poor company. Things look set to change for the better, although the maths suggests that the current share price is still well ahead of events. 

Zamano – attempted ‘no one watching o’clock’ “business update”. Uh-oh…

Published 182 days ago

Uh-oh. A Friday, 3:39pm “Business Update & Strategy/Board Changes” announcement. I’ll give you whatever odds you want on this being good news from mobile messaging, marketing and payments company Zamano (ZMNO)… It ain’t…

Gattaca – a buyer as shares have continued to fall, but worth following?

Published 183 days ago

Previously writing on engineering and technology recruitment group, Gattaca (GATC) I noted that the full-year numbers suggested compelling value, but questioned whether the shares actually were. Some buying has now been announced, with the shares having slipped further from the just below 300p of my previous update…

Hornby – turnaround progress any smoother than half year results issuance?

Published 184 days ago

Hobby products company, Hornby (HRN) announced results for the six months ended 30th September 2016 at 7am claiming “good progress with turnaround plan”. This didn’t though extend to the announcement itself - as the financial tables weren’t included! A replacement announcement was then made at 09:41 – does the company's turnaround progress look smoother? …

Ilika – it was discounted fundraising ahoy, what now?

Published 185 days ago

Materials innovation and solid-state battery technology-focused, Ilika (IKA) has announced that results for the six months ended 31st October 2016 “are expected to show total revenue for the period of £330k (H1 2015: £254k)”, but also “notifications of intent to award three new grants” and “a notification of intent to award a commercially-funded materials development programme” – and the shares are currently approaching 6% higher to 45p in response…

Westminster Group – having emphasised ‘elimination’ of Darwin Capital convertible loan notes in September, guess what…

Published 185 days ago

Having included as a ‘Key Point’ in its September-announced half year results statement “Darwin Convertible Loan Note debt reduced during period and eliminated shortly afterwards”, Westminster Group (WSG) is now “pleased to announce” £1.2 million of convertible loan notes… with Darwin! The following updates with the shares currently falling back well below 20p in response...

Card Factory – emphasises “sales growth”, but it's slowed & where are like-for-likes?

Published 193 days ago

I wrote on Card Factory (CARD) in August with the shares then at around 300p – concluding I could understand the share price decline and to avoid. The following updates with the shares currently at 260p on the back of a third quarter trading update…

Castings – half-year results show profit hit, to get hit further?

Published 197 days ago

On the back of an August AGM Statement from Castings (CGS) with the shares at circa 428p, I noted there looking an increased risk of short-term share price pain. The following updates on the back of the company’s Half-year Report, with the shares currently sub 400p…

Sepura – Hytera confirms takeover talks, though emphasises “preliminary stage” & “significant uncertainties”…

Published 199 days ago

Shenzhen Stock Exchange-listed Hytera Communications has updated on its “Possible offer for Sepura plc” (SEPU) – and the following updates with shares in Sepura currently sliding back below 20p…

Ten Alps – results “extremely disappointing”, but reckons to now be profitable. Sound familiar though?

Published 199 days ago

Shares in Ten Alps (TAL) have continued to fall on the back of results for its year ended 30th June 2016, which noted “a disappointing and painful period for the group”, but also that “hard decisions have been made and remedial actions taken to structure the business for success”. Hmmm...

Getech – results claim “continued prospects for profitable trading”, shares again tumble…

Published 200 days ago

Specialist exploration data and petroleum systems studies and evaluations provider, Getech (GTC) has announced results for its year ended 31st July 2016, including axing the dividend as oil prices remained “low and volatile”. The following reviews, with the shares currently more than 11.5% lower on the day, at 26.5p…

Gattaca – full-year numbers suggest compelling value, but is it?

Published 205 days ago

Shares in engineering and technology recruitment group, Gattaca (GATC) are currently 15% lower today, at sub 300p, despite a results announcement emphasising “profits in line with market expectations”. Hmmm…

Biome Technologies – further update post “significant” June profit warning, recovering or not?

Published 206 days ago

Having commenced June at 177.5p, shares in bioplastics and advanced radio frequency systems technologies company Biome (BIOM) slumped towards 80p in early July on the back of a “significantly behind current market expectations” Trading Update announcement. The shares have recovered somewhat to commence this month at above 110p – though we now have another “Trading Update” announcement…

Gaming Realms – claims “maiden profitable quarter”, but was it really?...

Published 206 days ago

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

T. Clarke – attempted ‘no-one watching o’clock’ announcement of “financial irregularities”

Published 207 days ago

Shares in T Clarke (CTO) are currently down approaching 6%, at sub 60p, despite there no news announced by the company today. Hmmm. What’s that though? A 4:37pm (post market-close, attempted ‘no-one watching o’clock’) announcement yesterday; “Re: Investigation”...

CAP-XX – tax rebate received… but needed to repay line of credit facility...

Published 208 days ago

“Further to the company's announcement of 4 October 2016, the board of CAP-XX (CPX) is pleased to announce that it has received an Australian Government R&D tax rebate of A$1.537m”. The following updates with me having previously commented here on the company looking to need to focus on ensuring it has a sustainable financial basis

eg solutions – claims another “landmark” contract win. Hmmm…

Published 211 days ago

eg solutions (EGS) has followed what it considered a “landmark contract win” with a leading “technology disruptor”, with what it describes as a “first landmark contract in Asia Pacific”. The following reviews with the shares approaching 6% higher, at 46.5p…

Eckoh – announces US contract wins, but how material?

Published 215 days ago

Eckoh (ECK) “is pleased to announce that it has recently secured three significant contracts in the US worth over $2.5m in total over the next three years… Our trading performance at the end of the first half of the year has been strong and we remain confident that the revised market expectations for this financial year will be achieved”. Revised market expectations? Oh yeah…

Michelmersh Brick – reckons fundamentals “strong”, but it’s a profit warning…

Published 218 days ago

“We are Michelmersh Brick Holdings plc (MBH): we are ‘Britain's Brick Specialist’”. You are Michelmersh Brick Holdings plc, you’ve just issued a profit warning…

NCC Group – “Trading update” announcement a profit warning or not?, what day is 31 November 2016?

Published 219 days ago

Cyber security and risk mitigation group NCC (NCC) has updated on four month to 30th September organic revenue growth of 21% in an announcement that also includes that “rate of growth in profitability will now be more biased towards the second half of the year than initially expected, but remains in line with the board's expectations”. Hmmm...

Hayward Tyler – disappointing H1, but reckons still to meet full year expectations. Hmmm…

Published 219 days ago

Shares in specialist engineering group Hayward Tyler (HAYT) currently trade more than 10% lower, heading towards 80p, despite a trading update announcement including “management is positive in the group's ability to meet full year market expectations”. Hmmm…

Hotel Chocolat – “pleased” with full-year results, but valuation tasty?

Published 220 days ago

Hotel Chocolat (HOTC) co-founder and CEO, Angus Thirlwell emphasises “I am very pleased with our performance since we were admitted to trading on AIM in May this year. Our results are strong, the Hotel Chocolat brand has continued to strengthen and we have made good progress with our three strategic priorities of investing further in our British chocolate manufacturing operations, growing our store estate and developing our digital offering”. Let’s take a look…

Hardide – investment for growth or just keeping the lights on?

Published 221 days ago

I wrote on provider of advanced surface coatings for a wide range of engineering components, Hardide (HDD) in June – ‘half-year results dire, cash crunch & thus (explicitly) fundraising ahoy!’. I now update on developments on the back of a trading update from the company today…

Carclo – after dividend failure, an acquisition & placing…

Published 225 days ago

Having recently cancelled its full-year dividend after the ex-dividend date, specialised plastics company Carclo (CAR) has now announced an acquisition! (along with a trading update and placing)…

Grafenia – trading update reckons “market expectations remain achievable”. Hmmm…

Published 225 days ago

Having previously reviewed Grafenia (GRA) with the shares at 9.5p in August, I note they currently 13.5% lower today, at sub 9p, on the back of a “Period End Trading Update and Notice of Results” announcement…

Renold – trading update, recovery from February profit warning woe?…

Published 225 days ago

Following a February profit warning, supplier of industrial chains and related power transmission products, Renold (RNO) has updated on its six months ended 30th September and its ‘STEP 2020’ strategic plan…

GAME Digital – full-year results, is this a sustainable proposition?

Published 226 days ago

Following an August pre-close trading update which saw its shares lower to sub 70p, I now update on GAME Digital (GMD) with the shares falling to 67p on the back of its full-year results announcement…

Mirada – shares soar on half-year trading update, but does it tell the full story?

Published 226 days ago

Having recently been declining, shares in digital technology company Mirada (MIRA) were the top gainer yesterday – up 26% to 4.25p – on the back of a “Trading Statement” announcement. Let’s take a look…

Surface Transforms – full-year results; management ‘confident’ and ‘excited’, market response less so…

Published 229 days ago

Developer and manufacturer of carbon ceramic products for the brakes market, Surface Transforms (SCE) “is pleased to announce its preliminary results for the year ended 31 May 2016”. The shares are currently 7.5% lower, at below 25p, in response…

Progility – “pleased to present results”, shares down approaching 40% in response...

Published 231 days ago

16 Sep 2016: “Progility plc (PGY), the Professional Services, Healthcare and Communications firm… intends to publish its full year results for the period to 30 June 2016 in the week commencing 26 September 2016”27 Sep 2016: “the company now intends to publish its final results, for the year ended 30 June 2016, on or before 7 October 2016”07 Oct 2016, 11:06am: “Final Results” announcement. All sounds a bit disorganised… and the shares slumped by 39% lto 1.6p, despite Executive Chairman Wayne Bos being “pleased to present Progility's results for the twelve months to 30 June 2016”.

CAP-XX – full-year results, talks CrAP (XX)…

Published 235 days ago

Having previously updated sceptically on supercapacitor and energy management systems company CAP-XX (CPX), I note it is now “pleased to announce its audited results for the year ended 30 June 2016”. Let’s take a look…

Zamano – mobile network operator changes, again TIMBERRR!

Published 239 days ago

Having earlier this year gone from “positive performance in revenue & profit” to group contribution margins “lower”, Zamano (ZMNO) stated in late August half-year results “we anticipate an improvement in operating performance during H2 2016 thanks to H1 advertising spend and continuing strong UK sales performance”. Now, it's updated that this anticipated improvement “will not be achieved”. And there’s worse...

NWF Group – AGM trading update reckons outlook “remains in line”, but is a profit warning ahoy?

Published 240 days ago

An AGM trading update from UK agricultural and distribution group NWF (NWF) includes that “the board's outlook for the year remains in line with its expectations”. The shares are currently 5% lower, at sub 150p, in response. Hmmm…

Alternative Networks – offers only vague near year-end profit warning attributed to EU referendum of more than 3 months ago! ...

Published 242 days ago

UK business IT and communications service provider, Alternative Networks (AN.) has made a “Trading Update” announcement including under a first bullet point “some project completions will be delayed beyond the year end”. Uh-oh…

Brady plc – review as it’s boardroom change ahoy

Published 246 days ago

Having chatted to him in May, I was surprised to see an announcement earlier this month that “after nine years Gavin Lavelle has decided to pursue new opportunities and has stepped down as CEO” of Brady plc (BRY). The company has now also announced that founder Dr Robert Brady has stepped down as a non-executive director. Hmmm…

eg solutions – half year results show marked declines… & so emphasise lashings of jam tomorrow

Published 247 days ago

Having warned in June that “first half trading performance and cash generation will be lower than previously anticipated”, eg solutions (EGS) has now announced the results for its half year to end July 2016…

NetDimensions – do half year results offer positives following July warning?

Published 247 days ago

Having warned in July of “delays in deal roll-outs affecting revenue growth”, NetDimensions (NETD) has now announced results for the first half of 2016…

Bonmarche – profit warning, performing poorly in all weather...

Published 248 days ago

Womens value retailer Bonmarche (BON) has announced it has followed a “generally poor summer season” with “extremely poor” trading in September – stated to be “largely as a consequence of the unseasonably hot weather which has not favoured sales of our new autumn ranges”. Hmmm…

Judges Scientific – interims show earnings down & suggest more such woe to come

Published 249 days ago

Half-year results from scientific instruments company Judges Scientific (JDG) include Chairman Alex Hambro “pleased to be able to report, for the eleventh consecutive year, record revenues and dividends”. The shares are currently more than 9% lower, at sub 1300p, in response. Hmmm…

Adgorithms – is again “pleased to report”, but again the shares head materially lower…

Published 250 days ago

Adgorithms (ADGO) “is pleased to report half year results for the six months ended 30 June 2016. In the period, the company delivered revenues of $8.7m, and adjusted gross profit of $2.2m”. Sounds promising, but what? The shares currently down 25% to sub 20p. Hmmm...

Crawshaw – following a more than 8% share price fall yesterday, a profit warning today! …

Published 254 days ago

“Trading update” announcement from fresh meat and food-to-go retailer Crawshaw (CRAW) includes in the first paragraph “suppressed footfall patterns caused by a combination of the international football, adverse weather and Brexit… persisted”. Uh-oh…

Goodwin – a 2:40pm “Interim Management Statement” = intra-day profit disappointment

Published 254 days ago

Following Sepura, the intra-day profit disappointment continued (although to a much lesser degree) with a 2:40pm announcement from engineering company Goodwin (GDWN) – this including notice of a current year first quarter (to 31st July) pre-tax profit down £0.75 million from the corresponding 2015 period, to £3.05 million...

Driver Group – confirms a second half year return to profit, so why are the shares crashing again?

Published 255 days ago

Construction and engineering industries consultancy group Driver (DRV) “is pleased” to confirm a return to profit during the second half of its year ending 30th September on turnover expected to be roughly 7% ahead of that recorded at the interim stage. The following though reviews, with the shares currently more than 11.5% lower, at 42p...

EU Supply – does “Renewal of agreements” announcement merit the further share price gain?

Published 255 days ago

Shares in EU Supply (EUSP) are again on the rise – currently more than 8.5% higher at 11.125p – on the back of a “Renewal of agreements” announcement. Let’s take a look…

Eagle Eye Solutions – “strategic board changes to capitalise on future growth opportunities”. Hmmm…

Published 259 days ago

With its shares having fallen from over 200p in February (when I noted scepticism HERE) and 164p in June (when I warned again HERE) to sub 100p, digital promotions technology group Eagle Eye Solutions (EYE) has now announced “strategic board changes to capitalise on future growth opportunities”. Hmmm…

Monitise – FY results, claims “positive” client response, but then admits contracts taking longer to conclude than anticipated! …

Published 261 days ago

Monitise (MONI) has announced results for its year ended 30th June 2016 emphasising “substantial improvement” in second half operating figures and “FINKit®, our new business unit which enables banks and financial services organisations to transform their digital services, launched during the year generating initial revenues in the second half of FY 2016, and received a positive response from current and potential clients and partners”. Sounds good…

Eckoh – CEO & Chairman buy shares, but of how much financial significance are these in context? …

Published 261 days ago

Following the shares having fallen more than 27.5%, to 35.5p, when I wrote on a “Trading Update” (i.e. profit warning) announcement from Eckoh (ECK) last week HERE, they had since continued falling – closing on 6th September at 32.5p. Now, “the company announces that on 7 September 2016, Nik Philpot, Chief Executive Officer of Eckoh, and Chris Batterham, Non-Executive Chairman of Eckoh, have both increased their shareholdings in the company”

EU Supply – half-year results, working capital looks tight…

Published 262 days ago

Having risen from just above 4p in the first half of June, shares in e-procurement SaaS provider, EU Supply (EUSP) are holding steady above 10p currently post its results for the first half of 2016…

Eck-oh no! – profit warning from Eckoh, hopefully my previous warning heeded…

Published 267 days ago

Previously writing on Eckoh (ECK), with the shares above 40p just over a year ago, I warned that a Benjamin Graham ‘Margin of safety’ – “available for absorbing the effect of miscalculations or worse than average luck” e.g. an earnings miss or negative change in stock market sentiment – looked to continue to not really exist here. Hopefully this warning was heeded as the shares are currently more than 27.5% lower today, at 35.5p, on the back of a “below market expectations” ‘Trading Update’ (i.e. profit warning) announcement…

Stilo International – why are the shares materially down again on a results announcement?

Published 268 days ago

Shares in Stilo International (STL) currently trade more than 9% lower today, at just over 7p, on the back of the company’s half year results announcement. This follows them also having fallen by more than 14% following the company’s announcement of 2015 results in March. Hmmm…

Carclo – trading “positive”, but full-year dividend now likely to be non-existent!…

Published 269 days ago

An “Update on trading and dividend” from specialised plastics company Carclo (CAR) commences “the board is pleased to announce that the group has continued to trade well in the current financial year”. Sounds promising, but wait, the shares are currently down more than 10% to around 140p. So what’s the twist?…

Braemar Shipping Services – “Trading Update”, results “will be materially lower than 2016”. Uh-oh…

Published 270 days ago

“Braemar Shipping Services plc (BMS) provides the following trading update, further to our AGM Trading Update on 30 June 2016”. Not ‘pleased to provide’, just “provides”, Uh-oh...

Pressure Technologies – “Update on Recent Trading” = Another Profit Warning…

Published 270 days ago

Having initially warned of further downside risk with the shares at 166p HERE, I note shares in Pressure Technologies (PRES) are currently more than 11% lower today, at 140p, on the back of an “Update on Recent Trading”

Rex Bionics – results statement notes “a number of important milestones”, but what about the financials?

Published 274 days ago

Robot technology to enhance the mobility of wheelchair users-focused Rex Bionics (RXB) has announced results for its year ended 31st March 2016 and that this “has been a period of broad progress across all areas, and we are pleased to be able to report to shareholders on the achievement of a number of important milestones during the period”. Hmmm…

Zamano – initial “Highlights” of half year results positive, so why are the shares further down?

Published 275 days ago

zamano (ZMNO) has announced results for the first half of 2016, with a first two “Highlights” of “sales increased by 80.2% to €18.748M” and “zamano continued to improve its balance sheet position, with cash of €7.430M at 30 June 2016”, so why are the shares currently further lower below 10p? …

LoopUp Group – shares to loop up or down following AIM IPO?

Published 275 days ago

“LoopUp Group plc (LOOP), a global software-as-a-service provider of remote meetings, is pleased to announce… admission of its ordinary shares to trading on the AIM market… The reception from investors… reinforces our belief that our differentiated product, business model and plans for the future provide the foundation needed to deliver on our potential as a public company”. With the shares currently at 112.5p, up from a 100p admission price, let’s take a look…

Cyan – a “world leader” adopting a model “similar to ARM Holdings plc”. Really?!? …

Published 277 days ago

Self-declared “world leader” in technical jargon to describe what it does (Oops, I meant “in narrowband RF mesh networks for Omni Internet of Things communications”), Cyan (CYAN) has announced results for the first half of 2016 – noting its “financial performance reflected the increasing maturity of our offering and relationships” and that it’s “excited by the group's growth prospects”. Hmmm…

365 Agile – from ‘excitement’ & ‘confidence’ to proposed cash shell in less than 3 months (& a year from listing)! …

Published 278 days ago

21 Aug 2015: “365 Agile ((365), formerly known as Iafyds plc) is pleased to announce the commencement of dealings in its ordinary shares… at a price of 75 pence… following the reverse takeover of 365 Agile Limited”06 June 2016: “the board is excited by the multiple prospects afforded by the Internet of Things space”Today: the shares currently more than 20% lower, at 26.5p, with the board having “reassessed its strategy to develop a meaningful business in the Internet of Things space”. Hmmm…

Filthy 40 China fraud Aquatic Foods: “Technical administrative delay” sees dividend postponed.

Published 284 days ago

Oh dear, oh dear. This does not look good. ShareProphets AIM-China Filthy Forty China fraud Aquatic Foods Group (AFG) has announced that it hasn’t paid its full-year dividend of 0.7p per share due to a “technical administrative delay”. Is that because there isn’t any cash?

Card Factory – “as convinced as ever of the strong growth prospects”, but recent performance “lower than our normal levels”. Hmmm…

Published 289 days ago

A trading update for the six months ended 31st July 2016 from Card Factory (CARD) notes “we remain as convinced as ever of the strong growth prospects for the business”, though describes a trading performance “lower than our normal levels”. Hmmm...

Grafenia – review as shares crash back having soared in Q2

Published 290 days ago

I previously wrote on Grafenia plc (GRA) on the back of a February profit warning – noting that I hope readers heeded my previous calls to sell or avoid at much higher prices than the then 8.5p and, whilst wishing new CEO Peter Gunning the best of luck, I retained that stance on the shares - see HERE. They subsequently recovered to more than 16p, but are now back at 9.5p following a recent AGM Statement...

Cloudcall – told ya; from ‘clearly enough cash to reach break-even’ to placing in less than 5 months!

Published 290 days ago

Synety, now Cloudcall Group (CALL), - 22 Mar 2016: “clearly shows us having enough cash to deliver this company to break-even without the need to raise further funds”05 Aug 2016: “Interim results announcement… Proposed Placing to raise up to £3.77m”. Hmmm...

Utilitywise - Flattery from the company for Brendan, but will he be able to rectify the red flags ahoy?

Published 291 days ago

With a business model which has seen red flags ahoy noted and recent performance “weaker… than we would have liked” (sorry, in order to help the company ‘realise its considerable potential’), Utilitywise (UTW) has announced the appointment of Brendan Flattery as CEO, effective 1st October 2016…

Gulf Marine Services – do contract win & contract extension signal turnaround?

Published 291 days ago

Shares in Gulf Marine Services (GMS) have initially reacted modestly positively to an announcement of a contract win and contract extension – with CEO Duncan Anderson emphasising the developments reflect “our strong client relationships, leading operational expertise and flexibility”. The following reviews – with I having previously concluded sceptically here...

Utilitywise – wariness vindicated as company updates on “weaker overall performance than we would have liked”

Published 292 days ago

“Utilitywise (UTW), the leading independent utility cost management consultancy, today provides an update on trading for the year ended 31 July 2016. The group expects to report significant revenue growth in the period with revenues of at least £82m (£69.1m 2015)”. Sounds promising, so why are the shares currently a further 6.5% lower, heading towards 133p? ...

Portmeirion – half year results (following profit warning), does forward confidence look merited?

Published 296 days ago

Following its recent profit warning“Portmeirion Group (PMP) is pleased to announce its performance for the six months ended 30 June 2016”. Hmmm…

zamano – from “positive performance in revenue & profit” to group contribution margins “lower” in less than 3 months…

Published 296 days ago

Provider of interactive applications and services to mobile devices, zamano (ZMNO) “is pleased to issue an Interim Management Statement in conjunction with its Annual General Meeting”“Pleased to issue” - should be good then, wait, what? The shares are currently down approaching 17%, to 10p, on the back of it? Hmmm…

GAME Digital – expects to report adjusted EBITDA ‘within range’, so why are the shares still further down?

Published 297 days ago

“Pre-Close Trading Update” announcement from GAME Digital (GMD) includes that it “expects to report an Adjusted EBITDA for the 53 weeks ended 30 July 2016 within the range of current market expectations”, though the shares are currently approaching 5% lower, at sub 70p, in response. Hmmm, let’s take a look...

Flowtech Fluidpower – acquisition & a penultimate paragraph profit warning

Published 298 days ago

Flowtech Fluidpower (FLO) opens an announcement today with that it “is pleased to announce the further strengthening of its product offering in the hydraulics sector through the acquisition of Triple Six Limited, and provide an update ahead of the release of the company's half-year results”. The shares are currently 5% lower, at 105p, in response. Hmmm…

Northbridge Industrial Services - “is pleased to issue”… a profit warning...

Published 299 days ago

Industrial equipment provider Northbridge (NBI) “is pleased to issue the following pre-close trading update in advance of its interim results for the six months ended 30 June 2016, which are scheduled to be released on 29 September 2016”“Pleased to issue”. Good, good, but what’s that?, the shares currently down more than 11% on the back of the announcement? Hmmm…

Ebiquity – relying on some improved performance to achieve FY expectations, future profit warning?

Published 304 days ago

Marketing analytics company Ebiquity (EBQ) has released a half year trading statement including that its “Marketing Performance Optimization practice has generated significant growth across all markets”, though that overall company performance is only “broadly in line with” (i.e. slightly behind) market expectations. The following reviews, with the shares currently 3% lower at 115p…

Sprue Aegis – H1 operating loss lower than feared, but what about the full-year and outlook?

Published 309 days ago

I commented on home safety products supplier Sprue Aegis (SPRP) in April as its shares were crashing on the back of a profit warning plus - see HERE. The following updates with the shares currently up today, to 181.5p, on the back of a trading update ahead of late September-expected results for the first half of 2016...

DP Poland – trading update emphasises “confidence”, but what about valuation?

Published 312 days ago

Last commenting on the company with the exclusive right to Domino's Pizza stores in Poland, DP Poland (DPP), I was sceptical of the valuation (and management greed). However, a “Trading Statement” announcement today sees the shares further higher. Hmmm…

Christie Group – hopefully my warning was heeded, as it’s now profit warning ahoy!

Published 313 days ago

On a 15th June AGM statement from provider of professional business services and stock & inventory systems and services, Christie Group (CTG) I concluded that “there looks significantly elevated risk here. As such, at this juncture this looks one to avoid. Sell.” Hopefully this was heeded as a “Trading Statement” announcement today includes that “operating profit for the year ending 31 December 2016 is likely to be lower than previously expected”...

BrainJuicer – half-year trading update notes “generally encouraging” top-line growth, BUT…

Published 316 days ago

Market research agency, BrainJuicer (BJU) has announced “generally encouraging” top-line growth and that half year “operating profit increased by some 41%” BUT…

DX Group – 9:14am “Trading Update and Board Change”. Hmmm…

Published 317 days ago

Parcels, mail and logistics group DX (DX.) has announced a strangely timed (9:14am) “trading update for the year ended 30 June 2016, including its proposed new central hub and contract with Her Majesty's Passport Office. In addition, it reports a change to its board of directors”. Hmmm…

Samuel Heath & Sons – results a spin-free pleasure to read, bar post-Brexit vote outlook warning

Published 317 days ago

Firstly to thank the eponymous Chairman of builders’ hardware and bathroom products manufacturer, Samuel Heath & Sons (HSM) for a management statement which was a, most rare in these times, spin-free pleasure to read. However, the statement includes an outlook warning…

Orchard Funding – from “pleased with how the business has grown since flotation” to “below market expectations” in less than 3 months

Published 319 days ago

1st July 2015: “Orchard Funding Group (ORCH)… is pleased to announce its flotation today on the London Stock Exchange's AIM market… will enable the business to grow to its full potential and become a leading lender in the insurance premium finance and professions finance market”14th April 2016: “we are pleased with how the business has grown since flotation”Today: “the company's trading performance for the current financial year is expected to be below market expectations”. Uh oh…

Surface Transforms – annualised revenues of £10m-£12m in sight. Er, not quite…

Published 320 days ago

Carbon ceramic brake discs company, Surface Transforms (SCE), has announced a “Pre-Production Technology Development Agreement”, including “expected annualised revenues after start of production reaching approximately £10m-£12m on mature volumes”. The shares are currently up approaching 9%, to 18.75p, in response. Hmmm – let’s take a look…

Portmeirion – you were warned & it’s now profit warning ahoy

Published 324 days ago

On a May AGM update from AIM-listed homewares group, Portmeirion (PMP) I concluded, with the shares at 1155p, that “the risk/reward trade-off now certainly looks to have swung to the former at this juncture. This suggests the shares currently to be avoided” - see HERE. Hopefully this was heeded as it’s now profit warning ahoy and the shares are heading towards 850p…

Brammer – having been in post for 18 years, CEO doesn’t last long after recent profit & debt warning

Published 324 days ago

Having announced “unchanged” expectations at its 13th May AGM, Brammer (BRAM), which describes itself as “Europe's leading distributor of quality industrial maintenance, repair and overhaul products, informed on 29th June of a “reduced level of profitability”, seeing that “the group will be close to its net debt/EBITDA bank covenant at the period end”. Now it’s “Directorate Change” ahoy! …

Newmark Security – from “look(ing) forward to updating the market further” to profit “significantly less” in less than 2 months

Published 325 days ago

Having on 18th May been “pleased to provide” a trading update, “delighted to announce several new client wins” and “look(ing) forward to updating the market further at the time of the group's full year results”, security systems provider Newmark (NWT) today just “provides” a trading update. Uh oh…

Forterra – from anticipating “a shortfall in brick supply” to plant mothball proposals in less than 3 months

Published 326 days ago

Having IPO’d in April, brick and other masonry products producer, Forterra (FORT) has updated that “profit for the first half is in line with management's expectations”, but that “given current economic uncertainty and sufficient brick inventory levels, the board has reviewed the current production plan...”

Gulf Marine Services – clients are “seeking cost efficiencies”, Uh oh…

Published 326 days ago

Provider of support vessels to the offshore oil, gas and renewable energy sectors, Gulf Marine Services (GMS) has released an “Operational and Trading Update” commencing that clients in the Middle East are “seeking cost efficiencies as a result of the challenging low oil price environment”. Uh oh…

Plastics Capital – after interim numbers failed to impress, what about the full-year?

Published 327 days ago

Having sold on the Nifty Fifty subscription site last year at above 100p, the following updates on Plastics Capital (PLA) with the shares currently at 93p following results for its year ended 31st March 2016…

Clarkson – another from “heavier weighting to the second half” to 'material' profit warning

Published 327 days ago

“Trading Update” from shipping services company Clarkson (CKN) includes notice early of “deterioration in freight rates” reflecting an “increase in global economic uncertainty and the continuing imbalance between supply and demand in shipping and offshore”. Uh oh…

Stadium Group – post profit warning directors purchase shares - do we care?

Published 337 days ago

Following its recent profit warning, Stadium Group (SDM) has announced director share purchases – but how much store should be put into these? …

Stadium Group – EU referendum day profit warning

Published 338 days ago

“Significant progress continues to be made in transitioning Stadium (SDM) from an electronic manufacturing services company to a design-led technology business… However, … in the electronic manufacturing services business, sales are showing a quicker than expected decline” - and more bad news follows…

Purplebricks – full-year results, increased loss… but Australia here it comes!

Published 345 days ago

Purplebricks (PURP), the hybrid online and 'local property expert'-based estate agent, has announced results for its year ended 30th April 2016, noting that “we continue to scale and anticipate that the UK business will move into profit in the current financial year” and that it is to launch in Australia. With the shares currently slightly lower, at 130p, in response, the following reviews…

Christie Group – AGM statement, relying on second half year recovery. Hmmm…

Published 346 days ago

Shares in provider of professional business services and stock & inventory systems and services, Christie Group (CTG) are currently trading lower on the back of an “AGM Statement” announcement. Let’s take a look…

Aukett Swanke – half-year results, blaming Brexit uncertainty. Hmmm…

Published 354 days ago

International practice of architects, interior designers and engineers, Aukett Swanke (AUK) has announced results for the six months ended 31st March 2016 and is “pleased to report another period of profitability”. The shares are currently down 18%, at 5.125p, in response though. Hmmm…

Goals Soccer Centres – placing & strategic review conclusions, can it drive future growth though?

Published 358 days ago

Having recently noted boardroom change aplenty but questioned trading change at Goals Soccer Centres (GOAL), the company has now announced completion of a strategic review, resulting in that “four strategic priorities have now been set”, and a 100p per share, £16.75 million (gross) placing. These are targeted to “help strengthen the group's market leading position, improve ROCE and increase value for shareholders over the longer term”. Hmmm...

Starcom – review following recent share price gains

Published 360 days ago

Though currently slipping back today, a still circa 3.5p share price of Starcom plc (STAR) compares to 1.25p hit post the company’s announcement of results for 2015 in March and a 1.5p per share placing later that month. Hmmm, what’s happening here?

Crossrider – “Board Changes including appointment of CEO”, but what else?

Published 360 days ago

Recent profit-warning issuing creator of digital advertising platforms, Crossrider (CROS) has now made an announcement entitled “Board Changes including appointment of CEO”. The new CEO also follows the March departure of Koby Menachemi “to pursue other opportunities”, but who is it and what are the other board changes?

Portmeirion – shares down 9% despite AGM update including “we expect profit before tax to be in line”. Hmmm…

Published 372 days ago

AIM-listed homewares group encompassing the Portmeirion, Spode, Royal Worcester and Pimpernel brands, Portmeirion (PMP) concludes an AGM update that “we expect profit before tax to be in line with market expectations for the full year”. The shares have though responded currently approaching 9% lower, at 1155p. Hmmm…

Synety Group – contract win, “a resounding endorsement for our technology”?

Published 376 days ago

Integrator of telephony systems into existing software, Synety Group (SNTY) has announced what its CEO, Simon Cleaver, considers “a resounding endorsement for our technology”. The shares have though currently responded just 1.4% higher to 72.5p. Hmmm…

accesso – over a month later, we’re told founder’s shareholding info incorrect & more…

Published 379 days ago

Technology provider to the leisure and entertainment markets, accesso (ACSO) has updated that “the announcements made by the company on 5 April 2016 and 6 April 2016 incorrectly stated Mr Sim's (founder and now employee who retired from the board in March) total beneficial interest” (in the company’s shares). Hmmm…

Solid State – trading update post shares being trashed by MoJ contract termination

Published 393 days ago

Two months after a Ministry of Justice contract termination trashed its shares (see HERE), Solid State (SOLI) “is pleased to announce that trading results in respect of the year ended 31 March 2016 at the group's core businesses are expected to be in line with market expectations”. Hmmm...

Strat Aero – another fundraising = natch, shares a top faller again

Published 402 days ago

Despite claiming that a gross £400,000 of funds raised last week “will help us deliver on our objective to establish Strat Aero (AERO) as the go-to-provider of UAV enabled technology to the commercial, educational and military sectors”I noted continuing concerns on funding as the shares slid from approaching 2p to 1.5p. Today the company “is pleased to announce… it has raised a further £477,250 (before expenses) by way of an additional placing”. Hmmm…

Strat Aero - W. Hulsey Smith again hits back as his counterclaims are filed

Published 403 days ago

I previously updated on drone company Strat Aero (AERO) post a £400,000 placing and it announcing that it had “received a defence and counterclaim from W. Hulsey Smith” but “intends to vigorously pursue its claims against Mr. Smith and believe his counterclaims and purported defence to be without merit” - see HERE. Smith has now again hit back…

Sprue Aegis – “Trading Statement” = a profit warning plus

Published 404 days ago

Smoke and carbon monoxide alarms and accessories company Sprue Aegis (SPRP) has released a “Trading Statement” including that “challenging trading conditions in France, principally due to overstocking, and weaker sales in Germany, due to product certification delays, are likely to significantly adversely impact the group's expected results for this year” as well as that it “has recently identified an issue in certain batteries supplied by a third party supplier that may cause a premature low battery warning chirp in certain of its smoke alarm models sold in the UK and in Continental Europe”. It’s a profit warning plus…

Strat Aero – litigation now flying, receives defence and counterclaim from Hulsey Smith

Published 407 days ago

Previously commenting in February on drone company Strat Aero (AERO) with its shares at 3.75p, I noted a somewhat rampy tone and that the latest developments were possibly a precursor to fundraising ahoy - see HERE. Much has happened since - and a further development today sees the shares currently more than 13% lower...

Adgorithms – “now evident that 2016 will be a year of transition and investment”, what was 2015 then?

Published 408 days ago

After a material profit warning less than four months after its 11th June 2015 £27 million AIM listing, online advertising software company Adgorithms (ADGO) has announced results for the year and that “it is now evident that 2016 will be a year of transition and investment”. What was 2015 then?

Alternative Networks – trading update, it reckons “positive indicators”, I maintain caution

Published 409 days ago

Having previously futilely attempted a ‘no one watching o’clock’ profit warning (sorry, “Trading update”), UK business IT and communications service provider, Alternative Networks (AN.) has now updated with what it reckons are “a number of positive indicators” - and so also at a more conventional hour, natch…

Tricorn Group – revenue warning & worse to come?

Published 410 days ago

Tricorn (TCN), which describes itself as a “manufacturer and specialist manipulator of pipe and tubing assemblies to niche markets worldwide in the Energy and Transportation sectors”, has released a “Trading Statement” including that revenue “is lower than anticipated at the time of the group's interim results announcement released on December 2nd 2015 and reflects further slowing in demand from key markets, particularly within the Energy division”. Hmmm…

Plexus Holdings – does recent order news suggest recovery from January profit warning?

Published 435 days ago

Shares in Plexus Holdings (POS) are a significant faller today despite its latest announcement being a “Well Order Signed with Det norske, Norway” and this following an announcement of a “Russian Licence Agreement” and that its “Malaysian JV Wins First GBP0.9M Well Order”

Goals Soccer Centres – 2015 results, relegation form

Published 439 days ago

Having most recently warned on shares in Goals Soccer Centres (GOAL) in January HERE, the following updates on today’s self-declared “disappointing” results for 2015…

Alternative Networks – futility of attempted ‘no one watching o’clock’ “Trading update” again shown

Published 456 days ago

A 5:06pm “Trading update”, Uh oh. A 24th February such announcement from IT and telecommunications provider, Alternative Networks (AN.) commenced that “the group's Advanced Solutions business continues to make good progress following the completion of the integration of the acquisitions made in 2014…”. Oh, ok. “… This has recently been offset by significant ongoing pressures in our mobile business”. Uh oh, here we go…

Solid State – shares trashed by MoJ contract termination

Published 457 days ago

Shares in provider of design-in and manufacturing services to those acquiring industrial technologies, Solid State plc (SOLI) are currently circa 33% lower, at around 350p, on the back of an announcement that the company has been informed of a Ministry of Justice decision to terminate its contract for electronic monitoring hardware. Is the share price response too harsh a sentence or not? …

Grafenia – hopefully my previous calls on this heeded; it’s another profit warning

Published 458 days ago

“Trading Update” announcement from Grafenia plc (GRA) commences “Post the last market update, trading has been more challenging in the company's domestic channels. Our markets have never been more competitive, with established players, aggressive pricing from new European entrants and domestic commercial printers diversifying into the trade print sector”. Uh oh…

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