Good morning, it's Paul & Jack here with the SCVR for Monday.

Agenda -

Paul's Section:

Touchstar (LON:TST) (I hold) interims. Brief comment, as it's very small.

Gaming Realms (LON:GMR) - strong interim results, moving into profit. Potentially interesting, could be worth readers taking a closer look. 2021 outlook is in line with expectations If forecast growth in 2022 happens, then the shares could end up looking cheap. I don't know enough about the business model to be sure either way, so am neutral.

Surface Transforms (LON:SCE) - another set of poor results, to add to a 20 year track record of poor results. However, big orders in the pipeline mean things look set to dramatically improve in 2021 and 2022.

Blackbird (LON:BIRD) - interim results don't impress at all. It's still loss-making, and needs to at least double revenues just to reach breakeven. There's enough cash to keep going for several years. I've no idea why the market cap is so high.

Luceco (LON:LUCE) (I hold) - my notes from today's interim results webinar on InvestorMeetCompany. I've taken a small opening stake, because the share price has fallen 30% on worries about supply chain problems. That might be a reasonable entry point maybe?

Water Intelligence (LON:WATR) - strong interim results, but the top dollar valuation & lack of divis rules it out for me.

Jack's Section:

Sthree (LON:STEM) - strong trading continues and FY profit is expected to be significantly ahead of consensus. The shares have been strong recently so there's a question around valuation and also around how long the market remains buoyant, but the group is investing in headcount and it's not hard to envisage continued strong trading.

Xpediator (LON:XPD) - recently upgraded guidance for at least £8.5m of FY profit before tax is maintained. Big increase in receivables and swing to net debt due to restructuring and Brexit complications. It's a buoyant market for logistics, but it's also low margin and costs could rise to so overall I'm neutral.

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…

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