Good morning! Cupid (LON:CUP) have announced the results of the independent review of their operating procedures by accountants KPMG. Maybe it will serve its purpose, in bolstering confidence in the company & it's share price? Personally I'm not interested in investing in this space at all, having read about the underhand practices which seem to be prevalent in the online dating world.
The losses on my gold mining shares have sharply reduced this morning, as there was a good rebound in the price of Gold following the close of the UK stock market on Friday. It's bounced from around $1,200 to $1,240 (Edit: corrected now, apologies for earlier typo) , which will have a geared effect on producers, depending on where their cost of production sits. Who knows what will happen next, although it has been pointed out to me that there is an apparently huge short position in Gold, so short covering could fuel a rapid bounce, who knows?
I've had a quick skim through results for the year ended 31 Mar 2013 from Omega Diagnostics (LON:ODX), but they really don't look very good. Turnover rose 1% to £11.3m, but adjusted operating profit fell 22% to £0.78m. Adjusted EPS rose marginally to 1.3p, but was heavily flattered by a large tax credit.
They got a £4m Placing away post year-end, so that will have wiped out year end net debt of £0.7m and given them >£3m net cash. The £18.4m market cap at 16.8p seems to hinge largely on hopes for a better outlook from new tests to be introduced. It doesn't pay a dividend, so it's not really my cup of tea - I suspect this is the type of share that you would only buy if you met management and bought into the story, as the historic numbers don't impress at all.
For anyone who missed my Webinar last week with Ed, focussing on small cap stock picking, the recording is now available on the bottom RHS of this page. It seems to have been well received, so we'll be doing more of these!
There's nothing much else to report today, a very quiet day for news in my niche.
See you from 8 a.m. tomorrow.
Regards,…
