Good morning!

Sprue Aegis (SPRP) Meeting

Meet the management of Sprue Aegis (LON:SPRP) tomorrow (27 April 2016).

ShareSoc has arranged a meeting, as follows (click on the "Contact" link below to book yourself a place):

Sprue Aegis Business Review. The directors of Sprue Aegis have agreed to answer ShareSoc Members questions following the recent trading statement (profit warning) and after the results announcement on the previous day. This event will commence at 6.00 pm and last approximately one hour. It will be at the office of Tavistock Communications at: 131 Finsbury Pavement, London, EC2A 1NT. If you plan to attend please tell us by using the ShareSoc Contact page here: Contact - mention “Sprue Aegis Meeting” in the Comments box.

This seems an excellent idea. Well done to ShareSoc in taking the initiative. Well done also to SPRP management for being prepared to face private investors, and answer questions, so soon after a major profit warning. I'd like to see more such meetings, and maybe webcasts too, when difficulties arise at any company.

I often complain about the lack of specific information available to private investors, especially when there are problems at a company. SPRP is a very good example of how the bad news was actually handled very well - the company published specific guidance on its revised profit expectations, and has agreed to meet private investors to answer questions. ALL COMPANIES SHOULD DO THIS. Vaguely worded profit warnings, with no figures, are just totally unacceptable, which sadly is the norm from most companies.

Boohoo.Com (LON:BOO)

Share price: 48.75p (down 2.5% today)
No. shares: 1,123.3m
Market cap: £547.6m

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

Results y/e 29 Feb 2016 - these are sparkling results, as expected. It's even more remarkable when you consider that all the growth is organic. There are not many big organic growth small-mid caps around at the moment, on the UK market. So the ones we do have, like BOO, command a considerable premium valuation, rightly so.

I've gone through the figures carefully, and skimmed some of the narrative. The numbers are more important to me than the narrative. Although I always carefully scrutinise the outlook statement, which is the most important bit of narrative to always read carefully.

The figures look terrific to me, I'm very pleased.

Some key…

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