Good morning, it's Paul here.

I'm making a guest appearance today, so that Graham can prepare his talks for Mello investor conference next week, in Chiswick. I'll also be pottering around at Mello, being generally affable to passers-by, but am not doing any talks this year, because I haven't really got anything new to say compared with last year. I'm still largely invested in the same shares, and my views on them have not changed much. The main change is that they've mostly gone down in price!

Estimated completion time - it's a bit complicated today, because I'm still on holiday in Gozo, the little sister island to Malta. My 50cc scooter has to go back to the hire shop by noon, but I'm itching to have a final whizz around the island on it. See moped-cam below, later! However, in order to not disappoint readers here, I'll write about half of today's report by about 10:00am today, then I'll come back and write the rest this afternoon. Apologies in advance for any inconvenience. So the full report should be complete by 3pm.

Update at 15:34 - it's taking longer than expected (due to technical problems updating the article), so I'll be finished by 6pm. Apologies for any inconvenience.

Update at 20:44 - I've been having technical difficulties updating this report this afternoon, hence the delay. I'll have one final attempt at getting the section on System1 up. Success! Today's report is now finished.


Kudos to Graham - for having the initiative to write to the Competition & Markets authority, asking them to put more detail in their RNSs. They have obliged, and instead of almost every RNS from them being titled "Merger Update", they are now including the company name(s) which the RNS refers to, in the title. This is a small, but very useful change, which will save lots of people some time and frustration, having to open numerous RNSs which won't be of any interest to them. So congratulations to Graham for prompting this improvement. It just shows that sometimes, a polite email with a good idea in it, can actually change things for the better. Also kudos to the CMA for listening, and responding positively to a sensible suggestion.

Today I'll be reviewing the following announcements;

Superdry (LON:SDRY) - Half year trading update

Purplebricks (LON:PURP) - Half year trading update

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