Morning all! 

Camellia (CAM) – Was expecting an update today but could find none, here are some quick notes I made – This is a company engaged in agriculture, banking and financial services, engineering, food service and investment. It’s a company that makes a profit, then doesn’t, a company with a low ROCE, a tiny Dividend and one that has gone nowhere in 5 years (check the chart - Always worth a look at the 1 year and 5 year chart in my view). I have no interest in companies like this until I read an update that might make a difference, something that might get it out of that 5 year rut.

CPPGroup (CPP)Half Year Report To End June 2017 – This company is engaged in the provision of assistance products such as Card Rescue, Card Protection, Identity Safe, Phonesafe and Travel Assistance. The Annual figures are really hit and miss, mainly miss, for me. Falling Revenues, Loss/Profit/Breakeven (2014 – 2016), sporadic ROCE. It does have cash and this report mentions that this is “the first period of growth in over five years”. Stockopedia doesn't like it much (with a Stock Rank of 35) and neither do I - Could be more interesting if the next report is a second period of growth (one swallow does not make a summer and all that!).

Macfarlane (MACF)Interim Results For 6 Months To End June 2017 – This company which is engaged in the designing, manufacturing and distribution of packaging products has been on my radar all year to be honest. Always quite fancied It around the 60p mark with a, say, 50p Stop. There’s quite a lot to like, rising Revenues, Profits, EPS, a ROCE of 15%, a decent well covered 3% Dividend. Any downside is that 20% of Mkt Cap Net Debt but the ROCE of 15% means that’s less scary to me.  Based on the fact it’s doubled in the past 5 years and it’s on a PER of 10 I wonder why I am not involved here from the 60p area (I've had my chances).  This update is actually as one would expect, a 10% rise in Revenue, 26% rise in PBT, a 9% increase in the Interim Dividend, EPS up 13.4% and Net Debt…

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