Morning all!

DX Group ( DX (Group) (LON:DX.) ) – 9.51p – £54.6m – PER n/a

Preliminary Results For The 12 Months To End June 2018 – Revenue up slightly (which is slightly ahead of market expectations), the Loss is also smaller than market expectations.

I remain Neutral here as it’s just too complicated for me – Way too much going on.

Revolution Bars ( Revolution Bars (LON:RBG) ) – 125p – £63.5m – PER 8.64

Interim Results For The 12 Months To End June 2018 – LFL Revenue down -0.6%, Operating Loss of £3.0m, the Final Dividend is maintained at 3.3p and pre-booked Christmas sales are up 20.3% (woo hoo!).

A strange set of results and some of the commentary is strange too, for example “H2 impacted by … the FIFA World Cup” – At least it seems like Christmas will not impact further! Why hold a stock when the main reason is the hope of a potential bid? Still guilty of the occasional school-boy error I continue to hold, just!

SCS ( SCS (LON:SCS) ) – 199p – £79.6m – PER 8.18

Preliminary Results For The 12 Months To 28th July 2018 – A strong year. Revenue up (slightly), Gross margin up (slightly), EPS up 14%, loads of Cash (£48.2m) and the Total Dividend is up 10.2%. Trading this year, so far, is in-line.

This looks almost decent enough to get involved for that juicy yield now (7%+), I am going to switch this up from Neutral to my Watchlist.

Treatt ( Treatt (LON:TET) ) – 482p – £281.4m – PER 25.3

Trading Update For The 12 Months To End September 2018 – In-line.

Based on forecasts I still can’t see the justification for a PER of 25 here – I remain Neutral.

As always, all comment most welcome!

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