Morning all!

Low & Bonar ( Low & Bonar (LON:LWB) ) – 47.9p – £158.1m – PER 6.98

Interim Results For The 6 Months To End May 2018 – Revenue is up (slightly) but Profits have taken a circa 50% hit. The Interim Dividend has been maintained.

Although the Interim Dividend has been maintained, if it’s a softener, I doubt it’s enough – Remains on my Avoid list.

Air Partner ( Air Partner (LON:AIR) ) – 111.25p – £58.1m – PER 11.6

AGM Statement – Lots of mention of strong and growth but no mention of Revenue or Profit performance, or at least it wasn’t clear to me.

I sold out here after the accounting issue (which they intend to learn from!) and I don’t see anything in this statement to want to buy back in at present.

Alpha FX ( Alpha FX (LON:AFX) ) – 530p – £176.6m – PER 23.3

Trading Update For The 6 Months To End June 2018 – Revenue up 50%+ and confident of earnings for the FY to be in-line with expectations.

This update provides some confidence that the great Revenue increases will be reflected in EPS. I am tempted here and if I don’t take a position soon it will go on my Watchlist.

Swallowfield ( Swallowfield (LON:SWL) ) – 315p – £54.0m – PER 11.3

Trading Update For The 12 Months To End June 2018 – Broadly in-line, Revenues similar to last year with PBT to be significantly ahead of last year (due to growth in own brand sales). Net Debt at £11m – Expecting it to reduce significantly in the new financial year!

This was on my Watchlist at the 310p level and although we’re there now, I am just not convinced by this update (which I was waiting for) – I am going to go Neutral here and see what the actual results (profits) look like and how that Debt is handled.

Safestyle ( Safestyle UK (LON:SFE) ) – 49.7p – £41.1m – PER 8.20

Trading Update – Revenues to be below…

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