Morning all!

Alumasc (ALU) – WAS EXPECTING AN UPDATE BUT COULD NOT ONE SO HERE’S MY NOTES – This "building products, systems and solutions company" has Cash (about 10% of Mkt Cap), pays a nicely covered Dividend of 4%+, has an ROCE of almost 20% and it has healthy Revenue and Profit growth (since 2014). On a PER of 7.75, this looks good value, for the sector, at this level.

Batm Advanced Communications (BVC)Interim Results 6 Months To End June 2017 – Stockopedia doesn’t like this "Israel-based company engaged in the development, production and marketing of medical products, as well as data communication products" much, with a Stock Rank of 44. And, I have to say, I don’t either. I just look at those annual figures and see falling Revenues - Which are at least (usually) accompanied by falling losses. Unsurprisingly, the ROCE is negative and there is no Dividend.  It does seem there’s enough Cash to absorb ongoing losses for some time – But, after 5 years I may have given in by now.  From an investment perspective, the 5-year chart shows zero progress.  These lacklustre results report a 10% increase in Revenue LFL and a 200% increase in Loss Per Share - Not sure this will be the tail-wind these shares need!

Gym (GYM)2017 Interim Results (6 Months) To End June 2017 – A "company which operates 97 gyms across the UK that are open around the clock". Revenue is up 18.8% this year with EPS and PBT up about 40% each - Quite impressive! The Interim Dividend is also up 20%. It opened 6 new gyms in H1 2017 (2 already opened in H2 – Expecting to hit more than 15 for the full year of 2017). It increased membership numbers by 19.8% to 508,000.  Since floating 2 years ago at 200p the share price has fluctuated between 150p and 250p, it’s currently around the float price. Revenues (and gym openings and membership numbers) do seem to be rising nicely (including forecasts) and it’s clearly moved from loss making into a Profit.  The current PER is 24 (perhaps a little rich) but, this could be worth a punt - If you believe in the 24 hour gym growth story - With 500,000 members already, I'm not so sure!

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