Good morning, it's Paul here with Thursday's SCVR.

No preamble today, as I've run out of material.

In case you've not seen it, I added a section on Wincanton (LON:WIN) yesterday afternoon, to yesterday's report here.

Estimated timings - the main report has to be finished by 12:45, as the car needs to go back in for an MoT re-test. But I'm hoping to add a couple more sections later today. Today's report is now finished.

I'll start at 7am, and will start with the scheduled results from Newriver Reit (LON:NRR) (I'm long)


De La Rue (LON:DLAR)

A friend rang me yesterday afternoon, and ran through the bull case for DLAR. It sounds very good. Therefore, I think I've made a mistake by selling my 40k shares yesterday. Happily, it turns out that the open offer entitlement of 7 new shares for each 16 existing shares, was set at 8am yesterday. I sold after that time, therefore still have the entitlement. This means I'll be entitled to 17,500 new DLAR shares priced at 110p. The market price is currently 160p, therefore there's an instant profit of 50p * 17,500 = £8,750. Very nice indeed. I had intended opening a short on DLAR for 17,500 shares, to lock in the 50p profit (and then close it when the new shares come through), but my friend convinced me that would be another mistake. He's really very bullish on the potential for the company, with new contracts coming through now, and costs drastically reduced. He's normally very thorough with his research, and tends to make money overall from the market, so I've decided to take notice of his view, and stick with DLAR, with a view to buying more if it dips back down.

The problem I have, is that I look at so many companies here, that it's difficult to find the time/energy to really focus on the best ideas. Therefore I do tend to lean on my long-standing network of investor friends, and ask the shrewdest & sector-relevant people what they think of particular shares, as in this case. Over time, you gradually learn who usually gets things right more often than not, so they're the people to listen to.

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Newriver Reit (LON:NRR)

Share price: 70.0p (down c.1% today, at…

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