Good morning! It's Paul & Jack here with the SCVR for Thursday.

Timing - TBC - lots to cover today, so we'll be busy all morning. Today's report is now finished.

I really liked Jack's simple & clear disclaimer, so we'll use that every day, since newcomers may not know the format. That's when I remember to include it of course, so probably every other day.

Quick note - a friendly reminder that we don’t recommend any stocks. We aim to cover notable trading updates & results of the day and offer our opinions on them as possible candidates for further research if they pique your interest. We tend to stick to companies that have news out on the day, and market caps up to about £700m. We avoid the smallest, blue sky type companies, and a few specialist sectors (e.g. resources, pharma/biotech).

A central assumption is that readers then DYOR (do your own research) and discuss in the comments below. The comments, incidentally, sometimes add just as much value as the articles. We welcome all rational views, whether bull or bear!

Agenda -

Paul's section:

Loungers (LON:LGRS) - strong trading in 4 weeks since re-opening. This is a quality outfit, with strong management, not cheap , but it is good.

Volex (LON:VLX) (I hold) - strong results & outlook, beating expectations. However, I've re-worked the EPS figures using a normalised tax charge, and reality is a lot lower than the distorted (from a deferred tax credit) headline numbers. I'm not impressed. Everything else though does look good, so it remains in my personal coffee can (long term holds).

Optibiotix Health (LON:OPTI) - accounts for FY 12/2020 are finally published. Some progress has been made. The (paper) value of OPTI's shareholding in SBTX is the most interesting thing about this share. Best seen as a jam tomorrow special situation maybe?

N Brown (LON:BWNG) - in line Q1 trading update. No change to guidance. I've decided to ditch my position, due to the news covered in yesterday's SCVR re large increase in scope of legal action with Alllianz over historic disputed insurance products.

Cake Box Holdings (LON:CBOX) - data breach announced.

Jack's section:

Record (LON:REC) - FY profits down slightly and revenue flat. Change in leadership has had an impact. Share price has been strong recently but this is a profitable company investing…

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