Morning all!

Codemasters Group ( Codemasters Group (LON:CDM) ) – 238p – £333m – PER 18.7

Trading Update For The 12 Months To End March 2019 – Trading continues to be strong (anticipates Revenue of £71m and Adjusted EBITDA of £18.5m (ahead of market expectations).

Would still like to see those actuals before making any call on this quite recent IPO.

Instem ( Instem (LON:INS) ) – 306p – £49.7m – PER 19.3

Results For The 12 Months To End December 2018 – Revenue up 8% (to £22.7m), PBT £1.7m, Adjusted Fully Diluted EPS of 15.5p with Net Cash at £3.6m. Confident for 2019.

Still quite like this and still watching for a break-out above 325p, remains on the Watchlist for now.

Iomart ( iomart (LON:IOM) ) – 349p – £378m – PER 16.6

Trading Update For The 12 Months To End March 2019 – Expects Revenue of £104m (£97.7m last time) and Adjusted PBT of £25.3m (£24m last time). Confident going forward.

Expectations are not mentioned but this looks like a slight miss to me – I don't see value here at present.

Low & Bonar ( Low & Bonar (LON:LWB) ) – 17p – £117.3m – PER 6

Trading Update (For The Period Since End November 2018) – Not going so well, FY performance to be impacted, no real guidance other than Q1 Revenue is below last year and managements expectations. Every man and his dog to blame.

Remains on my Avoid list for now.

Renew Holdings ( Renew Holdings (LON:RNWH) ) – 402p – £303m – PER 10.2

Trading Update For The 6 Months To End March 2019 – In-line and expects to meet FY expectations.

Still reckon this looks fairly priced around the 400p level. 

As always, all comment most welcome!

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