Morning all!

Lighthouse ( Lighthouse (LON:LGT) ) – 37.5p – £47.9m – PER 22.0

Trading Update For The 6 Months To End June 2018 – In-line.

2017 growth was excellent but looks like Revenue in 2018 and 2019 will see just a small rise with EPS growth of 10% each year. On a PER of 22.0 this seems at best fairly priced here – I will take this off my Watchlist for now and go Neutral.

Bango ( Bango (LON:BGO) ) – 162p – £113.5m – PER 33.6

Trading Update For The 6 Months To End June 2018 – 4th year of at least doubling End User Spend (£220m H1 2018 vs £92m last time). A strong first half and expecting a strong second half, now fully funded to reach profitability (no mention of when but operational costs now seem to be stable and capable of handling $5bn per year).

Looks like less of a gamble than it used to be. Will remain on the side-lines and keep an eye out for updates here.

As always, all comment most welcome!

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