Good morning! Paul here. I didn't manage to finish yesterday's report, so thought I'd resume reporting on a few more companies from yesterday. Graham is putting together a separate report for today's results - which will be quite short I think, as there's not much of any interest.


Purplebricks (LON:PURP)

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

Audiocast - for a bit of fun, I've decided to record an audiocast today with Lucian Mears, a well-known bear, who I've got a lot of time for. I'll publish it on my QualitySmallCaps.co.uk website later. EDIT: Here is the link.

The share price is certainly dropping heavily at the moment. Although it's difficult to know how much of that is the impact of negative publicity from bears, or how much is due to the general profit-taking in growth shares at the moment?

I feel that the bears do actually have some valid points. Although I remain bullish, because there is no doubt that online estate agents are disrupting the sector greatly. PurpleBricks is by far the market leader in the UK. If its new operations in California start doing well, then the market cap could go through the roof. Although it's already eye-wateringly high.



Going back to some announcements from yesterday, here goes:


FW Thorpe (LON:TFW)

Share price: 347.5p
No. shares: 115.7m
Market cap: £402.1m

Preliminary results - for the year ended 30 Jun 2017.

F W Thorpe Plc, designers, manufacturers and suppliers of professional lighting systems for the specification market

By "specification market", I presume they mean for construction projects?

The company issues very few RNSs, so the last update was the interim results, which I reported on here, on 16 Mar 2017. Interim results were good, and the outlook used the company's usual phrase of being "optimistic of a satisfactory overall result for the year".

There don't seem to be any brokers reporting on this company, which is very surprising for a £402m market cap company. Although it's effectively a family company, which happens to have a listing.


59c4f5a5c70b3TFW_graphs.PNG


As you can see from the Stockopedia graphical history above, the company has performed well for…

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