Good morning, it's Paul & Jack here with the SCVR for Thursday. Today's report is now finished.

Agenda - 

Paul's Section:

Nwf (LON:NWF) - another positive trading update, significantly ahead of expectations. This follows on from a similar upgrade at the start of March. It's benefiting from a supply shortage of oil, so is clearly able to raise prices & profit margins. This looks a good company, with a noteworthy long-term track record of paying reliable, and rising divis. Boring, but sometimes boring is good! 

Eleco (LON:ELCO) - final results are out, with profit flat, and EPS lower, due to increased tax charge. Balance sheet looks adequate. It's a nice company, but the valuation still looks too rich to me. 

Xeros Technology (LON:XSG) - more bad news from this serial disappointer, jam tomorrow company. It won't now reach breakeven in 2023, and only has enough cash to last for another year. It's tempting to punt on things like this, but they rarely end well.

Pressure Technologies (LON:PRES) - I responded to a reader comment from Camtab and have copied it into the main report. Results look OK, but maybe the recent c.50% rebound in share price might be worth a top slice?

Gattaca (LON:GATC) - poor interim results, as previously flagged in a profit warning in mid-January. The shares have plunged so far, that I wonder if it might be a turnaround at some point, under new management? An apparently sound balance sheet, means that dilution/solvency risk seems low.

Quickies -

Brewin Dolphin Holdings (LON:BRW) - party time for shareholders, with a knockout 61% premium takeover bid from the Royal Bank of Canada. The valuation metrics on the StockReport for yesterday do look attractive: fwd PER of 12.6, and a divi yield of 5.4%, for an impressive business with a good long-term track record. Are there other bargains in this sector I wonder? It's a recommended, all cash deal.

Polarean Imaging (LON:POLX) - up 25% today, to 65p, on news of it resubmitting a regulatory application to the USA's FDA. Shares plummeted when the original application was declined. Shareholders now have a nail-biting 6 month wait, to hope that this time the application gets approved. This does look an interesting company, but all rather binary. It chewed me up, and spat me out…

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