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

Today's report is now finished.

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 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).

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Agenda -

Paul's section:

Nightcap (LON:NGHT) - trading update buried in a new site announcement. Trading well. Read-across for other hospitality companies maybe?

Mccoll's Retail (LON:MCLS) - capital raising being considered. The perils of a weak balance sheet, with too much debt (combined with a marginal business).

Argo Blockchain (LON:ARB) - impressive interim results from this blockchain miner. Short sellers launch an attack on the company.

Smartspace Software (LON:SMRT) - trading update from this small software company. A little bit too early stage for me.

H & T (LON:HAT) - solid H1 numbers despite the pandemic. Amazingly strong balance sheet. Positive outlook. Looks good!


Nightcap (LON:NGHT)

21.5p (Friday’s close) - mkt cap £40m

New site

This is a chain of bars run by Sarah Willingham (CEO) of Dragon’s Den TV fame.

A new site in Bristol is to be opened before the end of 2021.

Five other sites are in “legal negotiations” - ambiguous, does that mean they’ve signed heads of terms, or not?

Trading update - is slipped into this RNS, it really should have been included in the title, as it’s so easy to miss otherwise.

The Company's bars have continued to trade well ahead of management's expectations since the relaxation of the UK…

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