Good morning, it's Paul here.

EDIT at 12:40 - today's report is now finished.

I hope all subscribers had a wonderful Christmas break. I rather like having the one day today, when we can re-engage our brains, and have a small adrenaline shot from the market, before the weekend!

There were no results or trading updates today, at 7am. Then an AIM minnow called Univision just released interims;


Univision Engineering (LON:UVEL)

Share price:  2.0p  (up 8% today, at 10:01)
No. shares:  383.7m
Market cap:  £7.7m

Interim results

UniVision (AIM: UVEL), the Hong Kong based Group whose principal activities are the supply, design, installation and maintenance of closed-circuit television and surveillance systems, and the sale of security related products, is pleased to announce its unaudited interim results for the six months ended 30 September 2019. 

As regulars know, I very rarely invest in overseas companies listed on AIM, because so many of them seem to go wrong, sooner or later.

Interim profitability is down on last year, at £178k vs £1012k in H1 LY.

Revenues have fallen from £6.4m to £5.0m in H1 vs LY H1.

Outlook - It expects a better H2 though;

For the reasons outlined below, the Company has experienced a downturn in both revenue and profit for the six months ended 30 September 2019, when compared to the same period last year

Nevertheless, the second half of the year has started better and the Board anticipates that the performance of the Group's business will be improved in the second half of the year. 


Major contract - this looks quite interesting. This tiny company had previously won the contract to replace the CCTV system on Hong Kong's railways. It mentions that orders have recently been received to replace equipment damaged in the recent riots.

This must provide a helpful backdrop, with probably numerous other organisations looking to improve their security in Hong Kong. With a big reference project in the bag, then Univision might be in the running to win more business potentially.

Balance sheet - there are 2 unusual items within non-current assets;

£922k - deposit paid for life insurance policy. I've not seen this before on a balance sheet.

£3375k - amounts due from related companies. Normally any such receivables (or creditors) would be cancelled out on…

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