Good morning from Paul & Graham!

Today's report is now finished.

Explanatory notes -

A quick reminder that we don’t recommend any stocks. We aim to review trading updates & results of the day and offer our opinions on them as possible candidates for further research if they interest you. Our opinions will sometimes turn out to be right, and sometimes wrong, because it's anybody's guess what direction market sentiment will take & nobody can predict the future with certainty. We are analysing the company fundamentals, not trying to predict market sentiment.

We stick to companies that have issued news on the day, with market caps up to about £700m. We avoid the smallest, and most speculative companies, and also avoid a few specialist sectors (e.g. natural resources, pharma/biotech).

A key assumption is that readers DYOR (do your own research), and make your own investment decisions. Reader comments are welcomed - please be civil, rational, and include the company name/ticker, otherwise people won't necessarily know what company you are referring to.

I'm still reeling from the bombshell announcement of fraud at WANdisco (LON:WAND) - that's about a 10% hit to my portfolio. Once I can gather myself together, we'll start working our way through this list.

Update at 12:40 - I think we'll leave it there for today. 


Paul’s Section:


Up 7% to 275p

Market cap £136m

Trading Update  (significantly ahead)

NWF Group plc ('NWF' the 'Company' or the 'Group'), the specialist distributor of fuel, food and feed across the UK , today provides a trading update for the current year ending 31 May 2023.

A lovely update today -

Whilst final quarter trading continues to be subject to seasonal factors, the strong year to date performance together with the supportive backdrop entering March means that the Board now anticipates the Group's full year result to be significantly ahead of market expectations1 with full year headline profit before tax2 not less than £17.5 million .
1. Company compiled consensus headline PBT of £12.3 million; information for investors including analyst consensus forecasts, can be found on the Group's website at

That’s a lovely, substantial beat against forecast.

Looking at my SCVR summary spreadsheet, it says that on 1 Feb 2023 we flagged…

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