Morning all!

First of all, please note, there is a Parity PEG Price Report Mello May 2019 Special covering over 20 companies presenting at Mello this week available here (free sign up required to access).

Unlikely to be any updates from me until next Tuesday as I will be at Mello and then in London until then.

Hope to see many of you there.

1Spatial ( 1Spatial (LON:SPA) ) – 36p – £36m – PER 80.9

Results For The 12 Months To End January 2019 – Revenue up 4.1% (to £17.6m), Loss of -£1.8m (£-1.6m last time).

Still not enough here to get me more interested at present.

CML Microsystems ( CML Microsystems (LON:CML) ) – 292p – £50m – PER 12.2

Trading Update For The 12 Months To End March 2019 – Revenue to be down -11% (to £28m), PBT circa £3m, Net Cash at £12.8m. First few weeks of the new trading year has similar headwinds to preceding few months.

I remain on the side-lines, looks potential for another warning, perhaps!

Eckoh ( Eckoh (LON:ECK) ) – 40p – £102m – PER 32.2

Trading Update For The 12 Months To End March 2019 – In-line, Net Cash at £8.3m (£3.6m last time), excellent sales pipeline.

There's a lot to like here but I notice negative EPS growth forecast for 2019E with 2020E still being lower than 2018A – I remain on the side-lines for that reason alone.

Ideagen ( Ideagen (LON:IDEA) ) – 128p – £295m – PER 24.7

Trading Update For The 12 Months To End April 2019 – Strong, expects results to be marginally ahead of market expectations.

Based on a small beat on the current estimates I have, seems about fairly priced here – Will keep an eye out for revisions.

Michelmersh Brick Holdings ( Michelmersh Brick Holdings (LON:MBH) ) – 97p – £89m – PER 12.8

AGM Statement – Robust, confident FY will be in-line.

I still believe forecasts are for negative EPS growth in 2020E. Could be tempted here if those forecasts are revised.


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