Good morning, it's Paul here.

General election - Tory landslide 

I'm writing this at 00:42, so only a few results have come through so far. However, they're in line with expectations (!!) set by the exit poll which indicates a Tory landslide.

(Update at 05:14 - it's just been declared by the BBC that the Conservatives have officially won, with an overall majority.)

I'm extremely relieved, as the potential damage from a Marxist Corbyn Govt, would have clearly been utterly catastrophic for the economy & our investments, not to mention the country as a whole.

Sterling has strengthened further overnight - which makes imports cheaper (good for non-food retailers).

Removal of the political uncertainty (Corbyn was a bigger fear than Brexit, in my view), means that we could see some terrific rebounds in small cap shares in the next few days. I think we could see a lot of investors deploying their cash piles to buy small caps from the opening bell today.

I can foresee consumer confidence improving now (also good for retailers, and the housing market), plus backed-up deals & capex could now resume. This is the best possible election outcome in my view, and could be really bullish for bombed out small caps. Let's hope I'm right.

Expected timing - I've got to head into London, so this report will be short, and early - should be finished by 9:30 am. Therefore I won't have any time for reader requests today, I'm afraid. Friday is usually very quiet for news, so it shouldn't be a problem.

Update at 09:46 - today's report is now finished.

There are only 2 companies in my universe issuing updates today, so this is the agenda;

Amiad Water Systems (LON:AFS) - profit warning

Hollywood Bowl (LON:BOWL) - final results FY 09/2019

Amiad Water Systems (LON:AFS)

Share price:  220p (pre-market open - indicated opening price down 18%)
No. shares: 22.7m
Market cap:  £49.9m

Trading update (profit warning)

Amiad (AIM: AFS), a leading global producer of water treatment and filtration solutions, provides the following update on trading for the year ending 31 December 2019.

I last looked at this company here in 2013, so am a…

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