Good morning, it's just Paul here today, because Jack is busy with other things today.

Today's report is now finished. I'm about to check out of the Melia Mare Hotel (in Madeira) and relocate to a little Airbnb apartment further to the west of the island, for another week. Pictures to follow on Monday! Have a lovely weekend.

Agenda -

Paul's Section:

Smartspace Software (LON:SMRT) - profit warning, with guidance for FY 01/2022 lowered considerably. Not a very convincing growth story now, with growth having slowed. Difficult conditions re return to office delays are blamed.

Nexus Infrastructure (LON:NEXS) - FY 9/2021 trading update says its in line with expectations, but no figures on profitability are provided. Lack of broker notes available, leaves me in semi-darkness. Large order book, of over 2 years revenues. I don't have enough information to form a proper view on this, but based on broker consensus numbers, it doesn't look cheap.

Sig (LON:SHI) - this building products distribution group sounds positive, beating expectations, but that means it's barely above breakeven. Looks a poor quality business, with erratic performance, and little to nothing to attract me to the shares. Harsh, but true.

Zytronic (LON:ZYT) - an encouraging improvement in H2, back to profitability. Cash pile is almost half market cap.

Explanatory notes -

A quick reminder that we don’t recommend any stocks. We aim to cover trading updates & results of the day and offer our opinions on them as possible candidates for further research if they interest you. Our opinions will sometimes turn out to be right, and sometimes wrong, because it's anybody's guess what direction market sentiment will take & nobody can predict the future with certainty. We are analysing the company fundamentals, not trying to predict market sentiment.

We stick to companies that have issued news on the day, with market caps up to about £700m. We avoid the smallest, and most speculative companies, and also avoid a few specialist sectors (e.g. natural resources, pharma/biotech).

A key assumption is that readers DYOR (do your own research), and make your own investment decisions. Reader comments are welcomed - please be civil, rational, and include the company name/ticker, otherwise people won't necessarily know what company you are referring to.

Paul’s Section

Smartspace Software (LON:SMRT)


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