Good morning! Paul & Jack here with the SCVR for Tuesday. Today's report is now finished.

Agenda

Jack's section:

Calnex Solutions (LON:CLX) - I hold - acquisition of iTrinegy, which provides testing for gaming, military, tech, and financial organisations including JPMorgan and Ubisoft. Calnex has a plan for scaling the business up and expects this new addition to contribute significantly to profits in the years ahead. Beyond that, the group says FY22 results should be ahead of expectations. Arguably reflected in the price though, so the key thing to consider is whether you’re comfortable with the valuation.

Argentex (LON:AGFX) - shares down this morning despite full year revenue growth of 23%. Presumably the group has not matched expectations, but the valuation is now quite modest and it’s possible the fall is overdone. If management can begin to impress the market, then there’s a rerating opportunity as the valuation discount to peers is now quite wide.

Hornby (LON:HRN) - looks like solid Q4 results for the owner of Hornby Trains, with full year sales and margins in line with budget. There are supply chain challenges though and, while there are some positive developments (namely a return to profitability), I’m mindful that turnarounds can often take longer than expected but there is potential upside, so it stays on the watchlist.

Paul's section:

Cambridge Cognition Holdings (LON:COG) (I hold) - as expected, strong revenue growth of +50% (organic) has moved the company into profit. A much larger order book gives really good visibility for 2022. Forecasts are set low, so it should beat expectations as 2022 develops. Plenty of cash on the balance sheet, so no need for any more dilution. COG is benefiting from long-term sector tailwinds. Hence this looks an attractive growth share, and shouldn't be impacted by macro issues.

Warpaint London (LON:W7L) - a sparkling trading update, with very strong Q1 performance across all channels. Broker upgrades today look too cautious, so I think this company now looks set up to continue out-performing. This year's indiscriminate selling looks to have created a nice buying opportunity, and you get paid to wait, with an attractive divi.

Supreme (LON:SUP) - a strong performance for FY 3/2022 is reported. Shares are down 18% today on a mild profit warning for FY 3/2023, due to higher costs (hardly surprising). Broker…

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