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

Timing - update at 13:11 - mostly done for today, I'm taking a break for lunch now, so hope to be back later this afternoon to finish off. Today's report is now finished.

Agenda - I can't cover everything, but these news items have caught my eye;

Somero Enterprises Inc (LON:SOM) - Trading statement (done)

Headlam (LON:HEAD) - Trading update (done)

Accesso Technology (LON:ACSO) - Full year trading update (done)


Apologies for abandoning my post yesterday afternoon, I've still got 2 companies to finish off. Friday is a good catch-up day, so I'm planning on getting up-to-date fully tomorrow.

What knocked me off track yesterday, was my portfolio started going haywire (in a good way!) with two of my top three holdings going up significantly. I'm primarily an investor, and a writer second, so when something big is going on, my apologies, but my personal portfolio has to take priority in the short term.

Saga (LON:SAGA) (I hold) - this was yesterday's biggest market riser, up 34%. What fuelled this? The only company news was that the second largest shareholder had slightly reduced their position, if anything slightly bearish. Yet it rose substantially, on another high volume day. I was searching for reasons for this (apart from it being very cheap, in my view), and the most likely reasons seem to be;

  1. Positive vaccine news, in particular Pfizer saying its covid vaccine seems to be 94% effective in the over-65s. Saga of course provides insurance and holidays for the over-50s. Therefore the market seems to have twigged the rather obvious point that, with the elderly being vaccinated first, and having a penchant for cruising, then this should be good news for Saga's 2 brand new cruise ships possibly being able to generate lots of cash (they're heavily pre-booked already), perhaps from (at a guess), April or May 2021? That would transform Saga's profits and cashflow for the better.
  2. I see broker forecasts seem to have been updated, and Stockopedia is now showing a forward PER of 9.3 - based on forecast EPS of 37p in FY 01/2022. I'm working on the basis that the potential for the year after is a good bit more than that - just getting back to historic profitability, it achieved c.180p EPS…

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