Good morning!


Tracsis (LON:TRCS)

Results are out this Weds, for this interesting group of companies with niche products/services targeting the rail industry. I interviewed the CEO just after results a year ago, and have set up another interview this Thu morning.

My interviews are interactive, so the idea is that readers can submit questions in advance. I can't promise to ask all of them, but will select the best questions, and bunch together similar questions into one. The deadline for submitting questions is midnight on results day, so that gives you time to digest the figures first.

To submit a question, please either message me via Stockopedia, or add a reply to this article.


Waterman (LON:WTM)

(at the time of writing, I hold a long position in this share)

CEO interview - just to flag up that I published an interview with Waterman's CEO yesterday. A transcript is also available for the hard of hearing, or those who just prefer to read, rather than listen to the audio.

He sounded upbeat, and the UK commercial property sector appears to be buoyant right now, so there should be good read-across for other companies active in the same area.

I should add that a major shareholder, Ruffer, appears to be drip-feeding stock into the market.


Zotefoams (LON:ZTF)

Share price: 355p (up 0.7% today)
No. shares: 43.8m
Market cap: £155.5m

Q3 trading update - there's a fair bit of detail, but no specific comment on performance against market expectations. The final paragraph reassures that they're probably in line, but if so, why didn't they actually say so?

The business is trading well and we have strong order books in all three of our business units for the final quarter of this year.  Whilst being mindful of the potential impact of economic conditions the Company continues to expect 2015 to be another year of progress and remains confident about the long-term prospects for the business.

Reading between the lines, it sounds like they're not terribly confident about the medium term, but are confident about the long-term. So I feel the above comments are hinting at potential problems, or at least covering themselves in case problems do emerge.

Increased capacity - note that the "major investment" in more production capacity at their Kentucky plant, is expected to start production…

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