Morning all!

Blancco Technology ( Blancco Technology (LON:BLTG) ) – 86p – £55.0m – PER 23.5

Interim Results For The 6 Months To End June 2018 – Revenue up just 2% but looks like the Loss is much less than last time - Excited about the future!

The PR agency for this company should be shot – This remains on my Avoid list as I just can’t understand the results, ever. Who cares that you are “excited about the prospects ahead”, more people care about whether you will be on track to meet or exceed expectations or not – And, perhaps, what they are. Most people are “excited about the prospects ahead”, rant over!

Hotel Chocolat Group ( Hotel Chocolat (LON:HOTC) ) – 337.5p – £378.0m – PER 32.3

Preliminary Results For The 12 Months To 1st July 2018 – Revenue up 11% to £116.3m (2017: £105.2m), PBT up 13% to £12.7m (2017: £11.2m), EPS up about 12% to 8.8p (2017: 7.8p), Annual Dividend will be 1.7p (2017: 1.6p).

I still can’t see why people are paying up for this on a PER of 30+, I remain Neutral until it’s at least half this price.

Swallowfield ( Swallowfield (LON:SWL) ) – 310p – £53.1m – PER 11.6

Final Results For The 53 Weeks To End June 2018 – Revenue down 3.5% but Adjusted PBT is up 37% to £5.0m (2017: £3.6m) and Adjusted EPS is up 31% 23.2p (2017: 17.7p). The Annual Dividend will be 6.2p (2017: 5.2p), up 19%. Net Debt is up to £11.8m (2017: £3.6m).

I remain tempted here, but Neutral for now.

Altitude ( Altitude (LON:ALT) ) – 93p – £51.6m – PER 13.9

Interim Results For The 6 Months To End June 2018 – Revenue slightly lower, Loss slightly higher. Outlook seems a little cautious.

I remain Neutral not wishing to pay up for “jam tomorrow” here.

Animalcare ( Animalcare (LON:ANCR) ) – 215p – £129.0m – PER 15.2

Interim Results For The 6 Months To End June 2018 – Looks like Revenue is up 6% or so and…

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