MrC's Smallcap Sweeps for Nov 2022

[MrContrarian]

Smallcap Sweep. 01-Nov-22
RNS rice pudding: read it before a skin forms

The Fulham Shore (FUL) branded pizzas will sell through 500 supermarkets this week. Trading in line. [SP=9.5 Cap=60m]
N4 Pharma (N4P) expanding patent claims in application for Nuvec. [SP=2.7 Cap=5m]
Westminster (WSG) guides FY22 rev one third below mkt exp and pretax loss half of FY21. Blames delay in getting a long-term, large-scale managed services contract. Cash will last to end 2023 barring further new large-scale projects. [SP=1.82 Cap=6m]
Norman Broadbent (NBB) guides FY-Dec Net Fee Income well above FY21. [SP=3.66 Cap=2m]
Osirium Technologies (OSI) Q1-3 bookings up 56% and ARR up 30%. Cash £0.32m. [SP=3 Cap=1m]
Mincon (MCON) Q1-3 rev up 25% and mostly organic. Positive about achieving an improved margin percentage in H2. In line? [SP=97.75 Cap=216m]
Quantum Blockchain Technologies (QBT) wins case against previous management and internal audit committee of Sipiem. Awarded €6.2m plus interest and €85k in costs. Defendants can appeal. [SP=1.37 Cap=14m]

In line: ECK
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 02-Nov-22
Falling into chasms in the ascent of Mt Avarice

Metro Bank (MTRO) profit on both an underlying and statutory basis, ahead of expectations, in Sept. "Whilst we remain watchful of economic conditions and continue to monitor our credit metrics closely, our book remains in good health." [SP=72.8 Cap=126m]
Sabien Technology (SNT) update on progress to create 'First Regenerative Green Oil system in the UK'. Co "believes it is probable that the Agreement will be completed, however there can be no guarantee. Subject to b.grn being able to secure sufficient finance and agree an EPC contract ". [SP=12.4 Cap=3m]
Bonhill (BONH) cuts guidance to rev £14.5m and EBITDA loss of c.£0.6m, from £15m and £0.35m. Blames "further softening in its markets and a reluctance by some clients to release further marketing spend in FY2022". Strong level of interest in formal sale process. [SP=3.5 Cap=4m]
Gama Aviation (GMAA) selected as preferred bidder for Wales Air Ambulance Charity contract. [SP=63 Cap=40m]
Zenova (ZED) Zenova FP Paint specified for main entrance facade of a Brighton hospital; encouraging signs for further NHS Projects. [SP=14.22 Cap=13m]
Malvern (MLVN) expects January's student intake for pathways to be significantly ahead YoY and mgmt budget. [SP=0.09 Cap=2m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 03-Nov-22
We apologise for the late arrival of this Sweep

CAP-XX (CPX) AGM stmt "Despite the slower than expected start to the year, there are indications that the order book is starting to bounce back and our outlook for full year revenue and adjusted EBITDA for the year ending 30 June 2023 remains in line with market expectations." [SP=3.7 Cap=19m]
Insig AI (INSG) cutting spending: "reducing revenue targets and, in turn, any associated costs of investment are now expected to result in an improved return on equity as well as higher operating margins." Also believes "no further working capital will be required to support the operations of the business in the short and medium term, as the business is expected to become cash flow positive from Q2 2023". [SP=18.5 Cap=20m]
Libertine (LIB) guides H1-Sep commercial revenue £0.6m (£0.1m). ""We are pleased to have delivered continued technical progress in the period with the completion of our performance validation prototype, which will now begin combustion testing with MAHLE Powertrain." [SP=14 Cap=19m]
Yourgene Health (YGEN) H1 trading. Co "has prioritised expanding market share in its core markets above near-term margin protection and therefore expects margins to remain below the 60% level previously forecast for the remainder of the financial year." [SP=3.62 Cap=26m]
IQE (IQE) wins three-year supply agreement from AWSC. No £££. [SP=41.6 Cap=335m]
Hansard Global (HSD) Q1-Sep new business £24.8m in Present Value of New Business Premiums terms, down 21% but flat from Q4'22. "The overall environment has remained challenging for investment and long-term savings plans. However, we are making good progress developing new distribution opportunities." [SP=40 Cap=56m]
Gattaca (GATC) FY-July. Guides FY23 in line. [SP=79 Cap=26m]

In line: XPD, DSW, KITW
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 04-Nov-22
I got plenty o'nuttin

DFS (DFS) AGM stmt: a more positive trend since early Sept, with order volumes growing relative to FY22 and FY19. [SP=124.4 Cap=299m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 07-Nov-22
Weapons-grade BS

Joules (JOUL) warns again with last 11 weeks behind mgmt exp. Blames economy and weather. Retail margin slightly behind expectations. Looking at fundraise, CVAs. Talks with Tom Joule and its lender on bridge financing. [SP=13.7 Cap=15m]
Marwyn Value Investors (MVI) a further Praesepe VAT reclaim in which the Master Fund has an interest agreed by HMRC. £3m of which 87% attributable to ordinary shareholders. 50% of the total gross claims agreed so far. [SP=102 Cap=58m]
Insig AI (INSG) £120k contract from an alternative investment manager. To complete by end Dec. [SP=17.5 Cap=19m]
Appreciate (APP) rec offer of 44p in paper (+ 0.8p div) from PayPoint. A 69% premium. [SP=26.35 Cap=49m]
National World (NWOR) invests $1.25m in The News Movement "as part of a strategic partnership to provide National World's audiences with high quality, fact-based, engaging news and useful information [yes, really] on platforms including TikTok, Instagram, YouTube, Twitter and Snap....The News Movement will produce news content for National World websites in addition to The News Movement's social platforms." Read it all on dumbingdown.co.uk [SP=20.25 Cap=53m]
Harland & Wolff (HARL) Judicial Review for the Islandmagee Gas Storage Project delayed to 16 Jan to due late submissions. [SP=6.2 Cap=11m]
Rosslyn Data Technologies (RDT) wins contracts for £1m over 5 years. [SP=0.89 Cap=3m]
ENGAGE XR (EXR) official launch of metaverse product, ENGAGE Link. "The launch completes the transformation of the Group into a metaverse technology company." Good luck with that. "The launch of ENGAGE Link is a huge moment for the Group blah blah blah" trill the CEO. [SP=13.55 Cap=41m]
AFC Energy (AFC) successful field trial of first prototype Methanol Fuel Tower with ACCIONA in Spain, generating on-site hydrogen from methanol. [SP=22 Cap=162m]
ATOME Energy (ATOM) non-binding MOU with Puma Energy Paraguay in relation to hydrogen in Paraguay. The companies "have expressed the non-binding wish to co-operate with a view to entering into one or more definitive agreements covering certain potential transactions" said Sir Humphrey Appleby. [SP=89 Cap=29m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 09-Nov-22
Dancing with wolves, and sharks

PCF (PCF) to commence withdrawing from the UK banking market "in the best interest of all stakeholders" after failing to raise funds. Will seek to delist. [SP=1.13 Cap=4m]
DFS (DFS) new CFO from 14 Nov. No mention of current one. [SP=137 Cap=330m]
Harland & Wolff (HARL) negotiating debt refinancing with increased limit. [SP=7.9 Cap=14m]
Purplebricks (PURP) GM requisitioned by investor to replace chmn with Harry Hill. No, not that one. What are the chances of that happening? [SP=11.4 Cap=35m]
SourceBio (SBI) proposes delisting and 115p tender offer. Co unable to raise money at a fair valuation, shares are illiquid. Expects to save £600k PA! [SP=107.08 Cap=79m]
Dignity (DTY) Q3 rev down 14%, U/L op profit down 68%. Deaths dwn 3%. Blames "a combination of factors, including fluctuations in the death rate, change in pricing strategy and introduction of a direct cremation service through Dignity's funeral network". Dignity will continue to refrain from giving guidance. [SP=445 Cap=223m]
Gym (GYM) trading 'resilient'. Membership up 17%, rev up 78%. Energy volumes are 63% hedged until the end of 2023. In line? [SP=123.6 Cap=220m]
SRT Marine Systems (SRT) small contract win to provide a national Coast Guard in SE Asia with an initial maritime monitoring system. To be completed prior to March. [SP=41.21 Cap=74m]
Windar Photonics (WPHO) appoints China distributor. [SP=7.9 Cap=4m]
Wynnstay Properties (WSP) H1 op income down 5%, EPS down 11%, div up 6%. In line? Well placed to "to acquire any suitable properties which may come to the market unexpectedly as a result of the current conditions." [SP=672 Cap=17m]
Smiths News (SNWS) says FY-Aug market expectations but adj EBITDA in line with last trading stmt. Outlook in line. FY div 4.15p (1.65p). [SP=38.8 Cap=96m]

In line: GHE, CSH, NXR
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 10-Nov-22
Decontaminating the putrid excrescence of London

Novacyt (NCYT) CEO scarpers. He is thanked. [SP=73.17 Cap=58m]
Kromek (KMK) $1.3m repeat order for D3M wearable radiation detector. [SP=7.8 Cap=34m]
Alfa Financial Software (ALFA) hikes FY-Dec rev and op profit guidance by c. £1.5m. Q3 rev up 25% to £25m. [SP=146 Cap=438m]
Biome Technologies (BIOM) guides FY22 rev marginally below mgmt exp but EBITDA loss as expected. Claims this is due to new cautious forecasting approach. FY23 in line. Substantial increase in orders from its second US client for biodegradable coffee filtration material. This growth continuing into FY23 is not included in FY23 mgmt exp. Has this serial disappointer turned the corner? Will it ever turn a profit? [SP=53.86 Cap=2m]
Powerhouse Energy (PHE) squeezes another RNS out of the tube of small and entirely expected progress. [SP=1.49 Cap=59m]
Ocean Wilsons (OCN) NAV $23.55/sh = £20.53 (June: £15.50) Wilson Sons doing well. [SP=875 Cap=309m]
Malvern International (MLVN) £200k placing at 8p, a 3% discount, principally to redeem loan notes. [SP=8.02 Cap=2m]
Manolete Partners (MANO) H1-Sep loss abysmal as expected due to write down of case values. Gross cash receipts £15.7m (£4.3m). New cases enquiries up 34%. Pilot with Barclays Bank aimed at recovering 'misappropriated' COVID Bounce Back Loans. [SP=260 Cap=114m]

In line: TTG
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 11-Nov-22
Flaccid Friday

Synectics (SNX) conditional sale of the business of SSS Management Services for £0.1m plus £0.1m contingent. Biz had £7m rev and operating profit of less than £0.1m. [SP=105.2 Cap=20m]
Driver Group (DRV) guides FY-Sept U/L pretax loss £0.3m before one-off Middle East reorganisation costs of £0.6m. Expects return to profit in Q1. [SP=28.89 Cap=15m]
Intelligent Ultrasound (IUG) £5.2m placing at 9.25p, a nil discount, to strengthen the balance sheet and provide additional working capital. [SP=9.3 Cap=25m]

In line: GFRD
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 14-Nov-22
Unreliable witness to corporate accidents

Global Ports Holding (GPH) signs 10 yr cruise port concession, its first in N America. [SP=80 Cap=50m]
Joules (JOUL) goes on the damaged goods rack as it appoints administrators. [SP=9.22 Cap=10m]
Mobile Streams (MOS) 5-year contract to be the exclusive provider of all NFTs for the leading female golfer in Mexico, Gaby Lopez. Pulls a $3.6m (net to MOS) 5 yr rev target out of its hole. Like announcing you're going to hit a ten under par before the clubs are out of the boot. [SP=0.17 Cap=7m]
Oxford Biomedica (OXB) sale and leaseback of Windrush Court facility for £60m, £5m better than guided. [SP=327 Cap=315m]
Wynnstay (WYN) guides FY beat as trading remains strong and JVs Bibby Agriculture and Wyro Developments substantially exceed performance expectations. Leaves next FY expectations unchanged. [SP=628.75 Cap=141m]
ME Group (MEGP) guides FY22 rev £256-262m and adj pretax £52-54m. Previously mgmt exp £257m and £47-50m resp. Net cash £38.2m and Oct. [SP=94.8 Cap=358m]
RUA Life Sciences (RUA) guides H1-Sep rev up 56%, ahead of mgmt exp. Loss £1.1m down 15%. [SP=32.5 Cap=8m]

In line: TLY, CBOX
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 15-Nov-22
There's no fuel like an old fuel

Quadrise Fuels International (QFI) extension of the "exclusive global collaboration and emulsifiers sales agreement" with Nouryon to 2025. [SP=2.15 Cap=30m]
CAP-XX (CPX) MARINE EDGE (even the name uses caps. Geddit?) has made its first orders of CAP-XX's supercapacitor modules for its PowerEdge system installations for cargo ships. Saves fuel. "The modules store and release the large amounts of energy generated from the periodical variations in engine loads induced by ocean waves." MARINE EDGE is an Israeli start-up with a one-page website. [SP=3.1 Cap=16m]
Pressure Technologies (PRES) £2m placing at 30p, a 6% discount, for working capital. Also £500k REX offer. [SP=NA Cap=NA]
Redcentric (RCN) H1 trading. Guides FY23 in line, FY24 rev and EBITDA ahead of mgmt expectations as the benefits of the acquisitions are realised. [SP=NA Cap=NA]
Morses '"it's not a" Club (MCL) funders have decided not to provide a peak trading advance against the Morses Club loan book for the period from now to 14 Feb. Co will constrain lending in both the HCC and digital divisions accordingly. [SP=NA Cap=NA]
Quantum Blockchain Technologies (QFI) update on progress in improving Bitcoin mining algorithms. [SP=2.15 Cap=30m]

In line: WIN
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 17-Nov-22
The London Crock Exchange

Cornerstone FS (CSFS) guides FY22 rev c.£4.3m, up 87%. In line? [SP=7 Cap=3m]
Harland & Wolff (HARL) details following yesterday's Gov't announcement of Team Resolute's (Harland & Wolff, Navantia UK and BMT) appointment as Preferred Bidder on the Fleet Solid Support contract. [SP=17.75 Cap=31m]
Water Intelligence (WATR) guides FY-Sep rev at the upper end of analyst expectations and profit in line. [SP=668 Cap=129m]
Ten Lifestyle (TENG) concierge programme for a Latin American bank upgraded from Medium to Large. [SP=46 Cap=39m]
Ilika (IKA) super-serial-dissapointer guides H1-Oct rev £0.2m (£0.2m), and EBITDA loss £4.5m (£2.7m) "due to the increase in operational costs associated with the commissioning of the Stereax manufacturing facility and an intensification of the Goliath development programme." Guides FY EBITDA loss c.£9m and cash at hand c.£14m. [SP=46 Cap=73m]
Crimson Tide (TIDE) £1m high-margin 3 yr contract with an existing retail client. More than doubles ARR of previous contract. [SP=1.97 Cap=13m]
Tekmar (TGP) re formal sale process: a preferred partner granted 60 day-period of exclusivity for due diligence and finalise its proposal on alternate debt or equity financing proposals. Does not prevent an offer being made by a third party. [SP=9.11 Cap=6m]
Finsbury Food (FIF) AGM stmt: first four months rev up 15.7%, continuing a 'robust performance'. [SP=90.2 Cap=118m]
Wynnstay (WYN) small acquisition. [SP=614.9 Cap=137m]

In line: KIE, BEG
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 21-Nov-22
Pod Point not on a charge

Pod Point (PODP) guides FY22 rev only c.£70m and adj EBITDA c.-£7m. Blames huge slowdown in sales of plug-in electric vehicles due to supply problems and also ending of charger grant in March. Outlook " we are prudently assuming that these supply chain and macroeconomic issues extend into 2023, and thus the Group expects full year revenues for 2023 to be in the region of £85 to £90m." [SP=75 Cap=115m]
Invinity Energy Systems (IES) 10 Invinity VS3 batteries sold to Taiwanese industrial equipment wholesaler. [SP=24 Cap=28m]
Northcoders (CODE) £2.1m placing at 300p, a 5% discount, to fund growth. [SP=301.5 Cap=22m]
Pendragon (PDG) PUSU deadline extension [SP=27 Cap=375m]
Real Good Food (RGD) £2.5m loan at 12.1%. [SP=0.94 Cap=1m]
Zinc Media (ZIN) guides FY-Dec rev £28m, ahead of market expectations and EBITDA in line. [SP=82 Cap=18m]
TT Electronics (TTG) buy-in of all UK pension liabilities giving an immediate £6m cash flow benefit. [SP=145 Cap=256m]
ENGAGE XR (EXR) commercial reseller agreement withb Lenovo for software platform ENGAGE and for metaverse production services targeted at Lenovo's enterprise clients. [SP=12 Cap=34m]
Accrol (ACRL) guides FY-Apr at least in line with market expectations (rev £213.5m and adj pretax £7.1m). Guides net debt c.1.5x EBITDA, ahead of expectations [SP=25.8 Cap=82m]

In line: SYS, FIH
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 22-Nov-22
Busting City heads in the vice of news

Clean Power Hydrogen (CPH2) Octopus Hydrogen has cancelled its order for an electrolyser due to production delays and a particular further potential issue with the design. [SP=40.07 Cap=108m]
DeepVerge (DVRG) organisational restructure of its environmental and life science divisions "to meet the growth in demand and maximise opportunities". Hopes to save £2m PA. [SP=1.96 Cap=15m]
Carr's (CARR) trading in line. FY results delayed due to independence reasons in the audit of 49% owned Carrs Billington Agriculture (Operations). [SP=111.5 Cap=105m]
Atrato Onsite Energy (ROOF) not affected by electricity generator windfall tax, due to long-term contracts. [SP=84.68 Cap=127m]
Van Elle (VANL) guides FY slightly ahead of market expectations.. Expects H1-Oct rev up 35% and pretax over £3m (£1.9m). Higher costs "substantially mitigated through contract price mechanisms as far as possible, however in some cases there is a lag in recovery". [SP=46.75 Cap=50m]
Altitude (ALT) guides FY-Mar materially ahead of current market expectations of rev £13.9m and adjusted EBITDA £1.2m. Cites "continued robust trading via expansion of its Services and Merchanting programmes". [SP=22.7 Cap=16m]
Solid State (SOLI) £9.8m further order from NATO Support and Procurement Agency. Expected to contribute towards market expectations for FY24. [SP=1235 Cap=140m]
Winkworth (WINK) guides FY-Dec rev above mgmt exp and pretax ahead of mkt exp £2.1m. Why not compare both to mkt exp? [SP=164 Cap=21m]
Crossword Cybersecurity (CCS) UK arm of defence and security company, Leonardo, has selected Rizikon for assessment of cyber risk in supply chain. No £££. [SP=20.02 Cap=19m]
t42 IoT Tracking Solutions (TRAC) sells Tetis tracking and monitoring units to Overhaul. "Initial two-year term and comprises a framework contract for Overhaul to order Tetis units and for t42 to provide software services." No £££. [SP=7.5 Cap=4m]
CML Microsystems (CML) guides FY-Mar ahead of market expectations. H1 rev up 22%. [SP=416.74 Cap=66m]

In line: FNX, KGH, IGP
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 25-Nov-22
Upbeat or beat up?

Devro (DVO) guides FY slightly ahead of mgmt expectations due to robust performance and foreign exchange tailwinds. [SP=308 Cap=516m]
LSL Property Services (LSL) guides FY profit c. same as 2019 due to reduced purchase numbers. [SP=224 Cap=236m]
LPA (LPA) guides H2 as predicted but small trading loss for FY-Sept. Pretax positive due to land sale. "Orderbook remains high at £28m." [SP=72.67 Cap=10m]
Omega Diagnostics (ODX) has now received the £4m deferred consideration from sale of CD4 business. [SP=3.93 Cap=9m]
Northern Bear (NTBR) H1-Sept rev up 13% but pretax down 2%. Outlook "While we are mindful that trading conditions may well become more challenging, our results in October were in line with management expectations and we have not seen any drop-off in trading to date". [SP=46.99 Cap=9m]
Caffyns (CFYN) H1-Sept rev up 7% but U/L pretax down 35%. Claims it's a "strong result considering the ongoing disruption to new car supply and current economic challenges. We have a substantial new car order book and used car sales continue to perform well." [SP=519.5 Cap=14m]

In line: SCS
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[WickedLester]

You missed this Devro news.

https://www.investegate.co.uk/saria-ned ... 00056228H/

· Under the terms of the Acquisition, Devro Shareholders will be entitled to receive:

for each Devro Share held: 316.1 pence in cash (the "Cash Consideration")

· The Acquisition values the entire issued and to be issued share capital of Devro at approximately £540 million on a fully diluted basis, implying an enterprise value of £667 million, equivalent to a multiple of 10.9 times enterprise value to EBITDA for the 52 weeks ended 30 June 2022.

I was thinking about buying some Devro shares a while back, yet another opportunity missed!

[MrContrarian]

Smallcap Sweep. 28-Nov-22
Perspiration for Inspiration holders

RM (RM.) conditional sale of RM Integris and RM Finance Business and related assets of its principal trading subsidiary, RM Education, for £12m plus £4m contingent. [SP=40.8 Cap=34m]
Advanced Oncotherapy (AVO) study showcases the potential superiority of LIGHT in treating breast cancer patients. It was a simulation study conducted by AVO. [SP=16.63 Cap=90m]
Hawkwing (HNG) the cash shell has received a statutory demand from a Convertible holder for the repayment of £2.2m. Co has received legal advice that the demand should not have been made. [SP=6.25 Cap=3m]
Inspiration Healthcare (IHC) warns rev will likely be down YoY and H2 EBITDA below H1's. Blames uncertainty in Ukraine and Thailand and China lockdown. [SP=84.6 Cap=58m]
Yu (YU.) guides FY-Dec rev, adjusted EBITDA and operational cashflow significantly above market expectations. Expects rev up 67%. [SP=336 Cap=57m]
C4X Discovery (C4XD) exclusive worldwide licensing agreement with AstraZeneca worth up to $402m for its NRF2 Activator programme. Lead focus on COPD. Pre-clinical milestone payments up to $16m ahead of the first clinical trial. [SP=20.61 Cap=52m]
Superdry (SDRY) confirms press reports that it is in negotiations with Bantry Bay Capital to replace the existing up to £70m asset-backed lending facility. [SP=127 Cap=104m]
Cerillion (CER) FY-Sept strong, as expected. "The market backdrop remains extremely favourable. The roll-out of 5G and digitisation, and the need to be able to react rapidly to changing market conditions, means that telecom companies continue to drive investment in enterprise software." [SP=1170 Cap=345m]

In line: BRCK
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 29-Nov-22
The outlook look-out

Safestyle (SFE) guides FY-Dec U/L pretax materially below market expectations due to weak demand. Demand has significantly improved in Nov so YE order book significantly ahead of mgmt exp. [SP=30.6 Cap=42m]
Titon (TON) guides FY-Sept in line. Current FY - exp rev in line but profit somewhat lower expectations. Titon Korea is expected to remain loss-making in FY22/23 due to the challenging market conditions. [SP=80.5 Cap=9m]
MTI Wireless Edge (MWE) c.$0.75m defence order, expected to be delivered in 2023. [SP=54.72 Cap=49m]
Costain (COST) partnering with Heathrow Airport to deliver its new investment programme, providing construction, consulting and digital capabilities, Co has been awarded its first commission. [SP=38.45 Cap=106m]
Supreme (SUP) H1-Sep. Guides FY ahead of market expectations. "Lighting division stabilising after a temporary setback, and pricing pressures beginning to ease." [SP=110.6 Cap=129m]
First Property (FPO) H1-Sept. NAV 48.34p/sh (43.88p). EPS 1.86p (5.85p). “price of debt to rise significantly from the lows created by loose monetary policy. A re-pricing of the property market is underway, and it is as yet unclear where this might settle.There is bound to be a period of weakness, but things should settle during 2023 as long as there are no other shocks to the system” [SP=23.74 Cap=26m]
Topps Tiles (TPT)-FY-Oct rev up 8%, adj pretax up 4%. Presumably in line with recent trading stmt. Outlook "robust" trading in the first eight weeks with Topps Tiles LFL rev up 3.4% (from 9% FY22) and other parts in line. Is 3.4% a miss then? [SP=40 Cap=78m]
Renalytix (RENX) publication of real-world evidence (RWE) in Primary Care and Community Health shows "KidneyIntelX bioprognostic test resulted in changed clinical decision making for patients in the early-stage of diabetic kidney disease". [SP=65 Cap=59m]


Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 30-Nov-22
Small Expectations

Zenova (ZED) guides FY rev below mgmt exp and loss broadly in line. Blames weak demand, "expects revenues it previously anticipated to be recorded in 2022 to be pushed into the following financial year". Launches FX500, a fire extinguisher for any type of fire. [SP=14 Cap=13m]
Strix (KETL) warns FY pretax will be only c.£23m due to China lockdowns hitting demand. Also global macro. [SP=128.03 Cap=280m]
Benchmark (BMK) placing and and retail offering in connection with proposed admission to Euronext Growth Oslo. [SP=37 Cap=260m]
LungLife AI (LLAI) US Medicare price set for LungLB® early lung cancer detection diagnostic. "This is a major commercial milestone for LungLB® and brings us closer to delivering the test to the people who need it most." [SP=105.25 Cap=28m]
D4t4 Solutions (D4T4) wins 2 contracts worth $6m total with ARR $0.6m. [SP=253 Cap=101m]
Eden Research (EDEN) organic certification for Mevalone and Cedroz in Greece. [SP=6 Cap=23m]
Alumasc (ALU) wins £7.3m contracts in Asia expected to be delivered over the next 12 to 24 months. [SP=147.1 Cap=53m]
Time Out (TMO) agreement to open a new Time Out Market in Riyadh, Saudi Arabia. [SP=39 Cap=131m]

In line: CMH
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian

[MrContrarian]

Smallcap Sweep. 01-Dec-22
Missives with misses

Creightons (CRL) H1-Sept poor. "We expect to hold our sales levels for the next six months before we start to build steadily again on a profitable business." [SP=37.5 Cap=26m]
Mortgage Advice Bureau (MAB1) guides FY-Dec adj pretax slightly below market expectations. Blames written business in October and November c.50% below expected levels. FY23 may be flat on FY22. [SP=562 Cap=322m]
Venture Life (VLG) £13m acquisition. Trading in line. [SP=27 Cap=34m]
Technology Minerals (TM1) first 19 tonnes of lead acid batteries recycled at Tipton by Recyclus, its 49% owned battery recycling business. "Recyclus plans to scale up its operations at Tipton while preparing to commence industrial-scale automated processing once it has received the final approval from the Environmental Agency." [SP=1.55 Cap=20m]
Windar Photonics (WPHO) new test order under distribution agreement with Vestas Wind Systems. [SP=23 Cap=13m]
ATOME Energy (ATOM) expansion of its flagship green ammonia production project in araguay from 60MW to 120MW. Remains on track to commence full production in the first part of 2025. [SP=120 Cap=39m]
Tribal (TRB) problems at the Nanyang Technology University contract mean substantially increased ongoing costs and lower rev. It is expected to make a c£12m over its life. Rest of co trading in line. Two new contracts worth £1.1m in ARR. [SP=55.75 Cap=118m]
Mobile Streams (MOS) yet another NFT contract: exclusive provider of all NFT content for the Extreme Fighting Championship. Not heard of it? It's a "sport entertainment phenomenon". [SP=0.14 Cap=6m]
Fox Marble (FOX) wins arbitration case against customer and wins €383k in damages plus £454k in costs. Each party has 28 days to submit corrections and seek to challenge the award. [SP=1.09 Cap=5m]
Pelatro (PTRO) warns $0.7-0.8m rev hit due to weak Rupee and order delays. "Rising interest rates globally have also negatively impacted the present value of some contracts." Guides FY EBITDA slightly below current market expectations.. [SP=19.5 Cap=9m]
James Halstead (JHD) AGM stmt: mixed. Production in Radcliffe has been affected by strikes. "This has not affected sales to any significant extent but has lessened our ability to take up some project opportunities." Cautiously positive about medium term prospects. [SP=196.5 Cap=819m]
Quantum Blockchain Technologies (QBT) previous management team of Sipiem appeals Venice Court’s judgment. [SP=0.94 Cap=9m]
James Latham (LTHM) H1-Sept. H2 has started with slightly weaker volumes and margins YoY. The supply chain has become easier. Shipping costs falling. [SP=1295 Cap=258m]
DeepMatter (DMTR) details of proposed delisting, placing etc. [SP=0.04 Cap=2m]

In line: LIKE, ESYS, TRT, DUKE
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

RNSs
http://www.investegate.co.uk/index.aspx?limit=-1

@MrContrarian