Good morning!

I'm giving Paul a break after a couple of mammoth weeks on the job here.

His top holding has announced a trading update, and there are plenty of other stories for us to digest.

I'm not sure how far I'll get, but these are all the small-caps I noticed which made announcements this morning.

Finished at 5.20pm: Made it as far as APTD. 

Not covered today:

In the world of big-caps, Fevertree Drinks (LON:FEVR) announced revenue growth of 10% - "below the Board's expectations, primarily reflecting subdued Christmas trading in the UK".

Fever-tree's margins have also declined, and it says 2019 earnings will be 5% below those of 2018.

That is not baked into any public forecasts I can see, and I would therefore expect to see significant selling pressure on the stock this morning.

Long-term prospects are probably still excellent, I think - I've been thinking about buying into it for a while, and will be checking to see how far it falls today!



Sosandar (LON:SOS)

  • Share price: 28.25p (pre-market price)
  • No. of shares: 163 million
  • Market cap: £46 million

Trading update

I'm happy for Paul and other holders of this share:

Revenue for the full year on track to be ahead of market expectations  

But the loss for the year will also be higher then expected:

Given the upfront cost of acquiring new customers against the benefit over the lifetime of the customer, the Company expects this investment to result in the net loss for the full year…

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