Morning all!

Accrol Group ( Accrol Group (LON:ACRL) ) – 19.5p – £38.1m – PER 27.9

Final Results For The 12 Months To End April 2018 – “A difficult year” with lots to blame.

These results look shocking, not even sure Rocky could make a comeback here. Stockopedia still classes this as a Highly Speculative Value Trap and I am (still) not really into investing in those. This is going on my Avoid list for now.

CentralNic ( CentralNic (LON:CNIC) ) – 52p – £88.7m – PER 14.0

Interim Results For The 6 Months To End June 2018 – Revenue up 5.5%, Gross Profit up 30.7% with Net Debt at £8.6m (H1 2017: Net Cash £7.7m). H2 weighting should see FY in-line.

First time I have looked at this and will remain Neutral for now whilst I do some more research.

Minds Machines ( Minds Machines (LON:MMX) ) – 7.35p – £58.5m – PER 21.0

Interim Results For The 6 Months To End June 2018 – Revenue up 22% with Gross Profit up 14%. Bit of a profit warning about FY expectations.

I will remain Neutral thank you very much!

Pelatro ( Pelatro (LON:PTRO) ) – 83.5p – £27.2m – PER 8.17

Interim Results For The 6 Months To End June 2018 – Revenue up 53% to $2.38m (H1 2017: $1.55m), PBT up 24% to $1.2m (H1 2017: $972,000), EPS at 4.4¢ (H1 2017: 5.1¢) – Due to IPO. Cash of $1.6m. Not sure what this is “Adjustment (credit) to reported profits in first half of approximately $517,000 due to change to IFRS 15 revenue recognition (expected largely to reverse in second half)”.

First coverage for me and looks great except for that last sentence above – Although trading is in-line with expectations. Neutral whilst I do some research here.

Trifast ( Trifast (LON:TRI) ) – 226.5p – £269.5m – PER 15.3

Trading Update – In-line.

Looks like there may be some value here at these levels but for now I will remain Neutral.

Fulcrum Utility Services (

My morning smallcap tweet: Redhall cannonball.

Crawshaw (LON:CRAW), Redhall (LON:RHL), Imaginatik (LON:IMTK), Simigon (LON:SIM)

Crawshaw (CRAW) H1 in line. Plans to sell online under a premium brand. Guides FY underlying operating loss of approximately £3m.
Redhall Group (RHL) guides FY materially below its previous expectations. Blames delays on a number of key projects outside of the Group's control and slower than expected operational efficiency gains
Imaginatik (IMTK) White knight investor (Vin Murria) pulls out of talks. Nomad resigns. Suspended tomorrow if no new nomad wishes to grab the poison chalice.
SimiGon (SIM) wins $1.1m contract from the Israeli Air Force for simulation trainers. The Contract has already been factored into management's expectations for the FY.