Morning all!

Avingtrans ( £AVG ) – 240p – £75m – PER 19

Results For The 12 Months To End May 2019 – Revenue up 34% to £105.5m (£78.9m), Adjust PBT £5.3m (£2.4m), Adjusted Diluted EPS 14.9p (8.4p), FY Dividend 3.8p (3.6p).

Acquisitions seem to be integrated well but I do remain cautious here on them trying to do too much too quickly – Even though it still looks like reasonable value.

Judges Scientific ( £JDG ) – 3440p – £214m – PER 18

Results For The 6 Months To End June 2019 – Revenue up 9%, Adjusted PBT, EPS and Interim Dividend up 20%+. FY Adjusted PBT and EPS to be ahead of expectations.

Always looks overvalued to me but always seems to outperform.

Porvair ( £PRV ) – 620p – £284m – PER 25

9 Months Trading Update – In-line.

The forecasts I see still represent single digit growth here (Revenue and EPS) so I don’t see value at this price.

Strix ( £KETL ) – 165p – £313m – PER 12

Interim Results For The 6 Months To End June 2019 – Revenue up 2.5%, PBT up 4.6%, Diluted EPS up 1.8%, the Interim Dividend is up 13%. FY remains in-line.

Still looks about fairly valued around this level to me.

Warpaint London ( £W7L ) – 51p – £39m – PER 5

Interim Results For The 6 Months To End June 2019 – Revenue up 2.9%, made a loss, the Interim Dividend is maintained. FY outlook unchanged.

Disappointment again and further validates why it’s always cheap.

As always, all comment most welcome!

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