Let’s see what the cat dragged in today, shall we? Some exciting results today, mostly of the positive kind.


Fenner (LON:FENR) +3.9% Revenues and PBT down, but dividend increased by 7%, improving order levels in “conveyor solutions” (fancy conveyor belts, to you and me) in North America, pressure in Australia, strong trading elsewhere. Personally, I thought FENR offered a mediocre trading opportunity, but it is increasingly looking like my assessment was wrong.

Virgin Media Inc (LON:VMED) +0.0% 2013Q1 results out, and markets seem indifferent. Revenues up 4%, but big increases in operational and free cashflow. I mentioned VMED back in January as an interesting special situation opportunity. Too bad I didn’t put my money where my typewriter was, because shares have risen from 2413p to 3230p. Better luck next time.


N Brown (LON:BWNG) +3.9% Market very much likes what the catalogue and home shopping company had to offer. I had mentioned BWNG in the past, and I know that there are some people who are interested in the shares, and have done exceptionally well out of them. Well done! I just wish I was one of them. It’s trading, and not talking, that counts! total revenues are up 6%, and operating progits up 3%. Within that, e-commerce sales are up 15%, and their USA sales are up 75%. “We are pleased to announce significant progress in the business. Online sales have maintained their strong upward momentum, our customer base has strengthened significantly and we have made good progress in the USA”. So, CEO alan White seems well chuffed with the results. Anecdotally, I bought a pair of shorts out of a catalogue from Premier Man about a week ago. The shareholder I know recommended that buying about 1500 pairs was an appropriate order quantity! My verdict is this: Premier Man offer the right quality clothing at the right price. Make of that what you will.

Trading Statements

Barclays (LON:BARC) -1.4% as at writing, although they were up earlier. I really can’t be bothered ploughing through their RNS, so I’ll paraphrase from Motley Fool: 25% fall in Q1 results, largely due to restructuring costs. An interesting special situation, and on the balance of probabilities, I think it will outperform the market over…

Unlock the rest of this Article in 15 seconds

or Unlock with your email

Already have an account?
Login here