Good morning, it's Paul here.

Election Day today, so should be interesting.

I finished off yesterday's report in the evening, with 3 new sections on companies that we've not discussed before here, namely;

Global Ports Holding (GPH) - independent owner/operator of cruise ship ports - thanks to sharw and jwebster, for adding excellent reader comments expanding on my review of GPH - very helpful indeed & informative. It does look as if this might be a bit risky, hence best avoided perhaps?

Eurocell (ECEL) - looks quite interesting - a profitable & reasonably priced building products company. Looks quite similar to Epwin. Good value maybe?

DWF (DWF) - acquisitive law group.

Here's the link to yesterday's completed article, to get you started on Thursday morning whilst I think up what to write about the fresh news out on Thurs morning.

Estimated timings - I'm hoping to be finished by 2pm

Update at 13:39 - today's report is now finished.

Zytronic (LON:ZYT)

Share price:  182.5p
No. shares:  16.0m
Market cap:  £29.2m

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

Further comments from me, as I've now had time to properly read the results commentary. My initial review of the numbers for FY 09/2019, & outlook statement, are here, in Tuesday's report. Therefore the points below are additional points not covered in Tuesday's SCVR here.


The outlook sounds quite positive;

The lack of growth this year has resulted not from a lack of opportunities, but from a slower than normal conversion of the larger projects into sales.  As Mark Cambridge, CEO, explains in his review, in terms of opportunities the number of live projects has increased by 41% during the year.

Vending market is growing (third largest market for ZYT), but not enough to offset losses in gaming & financial

Big increase in sales pipeline, specific figures given;

As at 30 September 2019, there were 494 opportunities in the system with a projected value of £83m, 58 classified as Projects, and are expected to generate £13.4m of sales over their future production cycle.  This compares with data as at 30 September 2018 of 414, £65m, 41 and £8.0m respectively.

Sounds as if production yield issues have been fixed, and costs reduced - better performance in future then perhaps?

Prudent accounting policies -…

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