Morning all!

Anpario ( Anpario (LON:ANP) ) – 345p – £79.9m – PER 17.7

Trading Update For The 12 Months To End December 2018 – Expects to be in-line, Cash at £12.9m, up from £13.6m.

Still looks overvalued to me.

Brady ( Brady (LON:BRY) ) – 63.5p – £52.9m – PER 52.9

Trading Update For The 12 Months To End December 2018 – Revenue to be circa £23m and EBITDA £2.6m – Broadly in-line with consensus market expectations.

Going to keep this on my Avoid list for now.

Colefax ( Colefax (LON:CFX) ) – 520p – £51m – PER 13.4

Results For The 6 Months To End October 2018 – Revenue up 7.8%, PBT up 41%, EPS up 55%, Net Cash up from £9.5m to £11.1m and the Interim Dividend is up 4%. Cautious about H2 as confidence has slowed recently.

I still, perhaps wrongly, cannot bring myself to be more interested here.

Filtronic ( Filtronic (LON:FTC) ) – 6.6p – £13.8m – PER 42.4

Results For The 6 Months To End November 2018 – Revenue down to £10.4m (£12.8m last time), Loss of -£0.9m (£0.9m Profit last time) and Cash is down from £3.8m to £2.2m. Expects H2 to be broadly similar.

I will be not be getting involved here any time soon.

Luceco ( Luceco (LON:LUCE) ) – 53.2p – £85.5m – PER 10.6

Trading Update For The 12 Months To End December 2018 – In-line with Revenue down -2% to £164m with Net Debt at £32.2m (2x Adjusted EBITDA).

Still not for me and remains on my Avoid list for now.

Netcall ( Netcall (LON:NET) ) – 31.5p – £45m – PER 22

Trading Update For The 6 Months To End December 2018 – Trading in-line and expects Revenue of £11.4m (£10.7m last time) and Adjusted EBITDA of £2m (no last time figure). Revenues to be H2 weighted.

Again, to me, an unclear update so I just have to wait to see actuals.

Next Fifteen Communications ( Colefax Group (CFX) H2 rev up 8%. Expect H2 weighted FY but total rev below the 'exceptional' performance last year. US mkt confidence has slowed recently. How can confidence slow? It can fall.
SpaceandPeople (SAL) goes back to what it does best, warning on sales. Dec particularly bad. Guides FY pretax pre-excep loss £0.1m. Net cash down to £0.8m (£1.9m). Will maintain final div at 0.5p. "The Board is confident that new initiatives, cost cuts and anticipated new business wins will return the Group to growth in 2019 and beyond." I'm not.
Premier Veterinary Group (PVG) confirms related party secured loan of £3.85m with the onerous arrangement fee of £350k and 1% pcm interest. £1.5m to repay loan from same source. What's not to dislike?
ARGO Group (ARGO) warns of FY operating loss. Blames difficult trading conditions in emerging markets.
Brady (BRY) guides FY rev £23m and adjusted EBITDA c. £2.6m, broadly in line with consensus market expectations.