Good morning subscribers! It's Paul here.

Many thanks to the silent majority, who gave yesterday's SCVR a robust seal of approval, reflecting my 6 hours' intense hard work, from 7am to 1pm, of a seasonally high 97 thumbs up! Thank you, it's much appreciated.

It really shouldn't matter, but like my friend who went to weight-watchers, being rewarded with a worthless gold star really pleased him, even though we laughed afterwards about how ridiculous it is.

Now that SCVRs are part of your subscriptions, I've realised that I should work harder & earlier, to hopefully find a format that everyone likes, or at least can cope with. Please bear with me, whilst I try out a few ideas.


Initial review of RNS

(please note I won't be updating this section. New sections will appear below, so nobody has to go back and re-read parts of the article)

JD Sports Fashion 

Strong results, from this rare bright spot in retailing. Far too big for me to review in detail here, at £5bn mkt cap.

  • A big acquisition (Finish Line, USA) has helped boost revenues to £4.7bn for 52 weeks to 2 Feb 2019
  • Adj EPS of 28.44p is up 13% on last year, and is 2.7% ahead of broker consensus forecast of 27.7p
  • Share price has gone ballistic since recent 318p low on 20 Dec 2018. It's up 67% since then, to 532p. Well done holders! PER is 18.7 - looks about right, given strong performance
  • Strong balance sheet, with £125.2m net cash

My view - what a lovely business! No current trading stats, as company (rightly) says these would be meaningless due to change in timing of Easter.

... However, we are pleased with the continued underlying positive performance of the Group and are excited by the major developments ahead.

That's it from me on JD today, I won't be adding any more detail below, as it's a large cap. I just wanted to have a quick look, for comparative purposes.


Flowtech Fluidpower (LON:FLO)

2 announcements (results, and separate trading update) today.

Company says its 2018 results are in line with expectations. Debt increased on acquisitions.

There's a short video results presentation, a nice touch.

Q1 update says in line with expectations overall. Smallest division is struggling, but larger ones doing OK.

I quite like this group, so will write…

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