I Read The News Today Oh Boy! 8-Oct-2018

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 (