Morning all!

Bioventix ( Bioventix (LON:BVXP) ) – 3220p – £165.5m – PER 32.2

Results For The 12 Months To End June 2018 – Revenue up 21% to £8.8m, PBT up 19% to £6.9m, Cash up £0.8m to £7m, Second Interim Dividend of 36p (2017: 31p) and a Special Dividend of 55p (2017: 40p).

Another one of my casualties from waiting for pullbacks and not paying up (have now gladly changed this approach)! Remains on my Watchlist.

Codemasters Group ( Codemasters Group (LON:CDM) ) – 176.5p – £247.1m – PER 14.9

Trading Update For The 6 Months To End September 2018 – FY to be in-line.

First coverage for me, I will go Neutral here while I look into what “in-line” is forecast to look like – Gross margin here is 88.5% and they have a decent amount of Cash too, so looks healthy enough.

EasyHotel ( easyHotel (LON:EZH) ) – 101.5p – £148.1m – PER 50.8

Trading Update For The 12 Months To End September 2018 – In-line.

On a PER of 50.8 this now looks more reasonably priced (it was 70+ last time I looked) but I will remain Neutral for now.

Reach ( Reach (LON:RCH) ) – 65.6p – £196.3m – PER 1.76

Q3 Trading Update – Expects FY to be in-line (PBT between £132.1m to £133.9m).

It’s very cheap and the yield stands at 9% here. The risks to me are the HUGE Pension Deficit and the terminal decline of the print sector. I remain Neutral but with £130m or so in PBT and the push to digital revenues this may well be the bargain of the year, perhaps!

Sopheon ( Sopheon (LON:SPE) ) – 908p – £92.0m – PER 23.0

Q3 Trading Update – Expecting FY to exceed current market expectations.

Sadly remains on my Watchlist since 367p, less than a year ago – One of the reasons I have moved away from waiting for pullbacks. Remains on my Watchlist until I finally decide to pay up here, perhaps today!

Angling Direct (

My morning smallcap tweet: finnCap whacks Ackers.

French Connection (LON:FCCN), CAP XX (LON:CPX), Hydrodec (LON:HYR), Akers Biosciences Inc (LON:AKR), Sopheon (LON:SPE), Amino Technologies (LON:AMO)

French Connection (FCCN) confirms it is up for sale. I hold.
CAP-XX (CPX) Giant component co TDK will licence a family of CAP-XX's patents for supercapacitors. Joins Murata and AVX.
HydroDec Group (HYR) £10m placing and £2.8m open offer at >=75p post 100:1 consol. A 42% discount. Cash needed for working capital, R&D...
Akers Biosciences (AKR) finnCap gives the wobbly biomedical co 3 months notice and cracks the whip. finnCap will resign immediately unless whole Board of Directors attends an 'AIM Rules briefing' hosted by finnCap. Never seen that before. CEO resigns, replaced by non-board consultant. Agrees to pay $930,000 to US co Pulse Health to settle lawsuit. Will focus business on Particle Immuno-Filtration Assay.
Sopheon (SPE) expects FY to exceed market expectations from finnCap and Progressive.
Amino Technologies (AMO) warns FY adj pretax only $11.5m = £8.8m (£11.2m). Blames disappointing orders and and higher than expected component prices.