Hi, it's Paul here.

Estimated timings - I awoke today feeling uncharacteristically perky (not being a morning person). Therefore I'm hoping to have this report finished before 1pm.
Update at 12:59 - sorry, I got so bogged down in FUL that am running a couple of hours behind schedule. Revised finish time of 3pm - it has to be done by then, as I have to walk into town to get an Xmas present for my nephew, and have a beard trim.
Update at 14:33 - today's report is now finished.


Remit of the SCVRs here

I thought it might be helpful for new subscribers here, if I explain our remit.

Graham and I review typically the 4 or 5 most interesting trading updates & interim/final results statements, announced on the day, from small caps [which we define here as c.£10-400m mkt caps]. Sometimes we stray outside of that size range if we see something interesting (e.g. being an ex-CFO for a ladieswear retailer, I like to look at my 2 favourite retail sector picks, Boohoo (LON:BOO) and Next (LON:NXT) results statements).

We cover about 500 companies in total, excluding these sectors: natural resources, pharmaceutical/biotechs, insurance, anything wildly speculative/blue sky, and anything else we don't like the look of. Also, I don't tend to cover financials but Graham does. I might start covering financials in 2020, to eliminate that anomaly.

Since we cover so many shares, please understand that we're just reviewing the figures & commentary. The idea is that readers might then like to do your own more detailed research on anything that catches your eye. The idea is very much that readers DYOR (Do Your Own Research).

We are NOT share tipping! Hence you will never find buying advice, or buy/sell instructions here. Graham and I are both professional investors, sharing our research & views with you. We disclose if we have a position in a share.

We're independent! We never accept money from companies to give a more positive view on them.

Like all other investors, we make plenty of investing mistakes - missing opportunities, and sometimes buying shares that do really badly (that's been my personal speciality in the last 18 months!).

I think our main achievement here over the last 6 years, has been to steer our readers away…

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