Good morning, it's Paul & Jack here with the SCVR for Tuesday.

Timing - I think we'll leave it there for today, 5 companies is enough for one day! Today's report is now finished.

Agenda -

Paul:

Christie (LON:CTG) - a quick review of its FY 12/2020 results, issued yesterday. Recovery looks already priced-in, especially when you take into account the increased pension deficit.

Brickability (LON:BRCK) - a positive update, ahead of expectations, but they fail to mention profits are down on last year. This share has more than doubled in the last 6 months - that looks justified, but where's any additional upside going to come from? Probably priced about right.

Porvair (LON:PRV) - positive-ish trading update. Signs of recovery starting, so more optimistic for H2. As always, I struggle with the high valuation of this share, given its lacklustre growth, and sideways share price, in the last 3-4 years. Just feels like the growth story has gone a bit off the boil.

Jack:

Warpaint London (LON:W7L) - this supplier of cosmetics has had a couple of false starts since listing in 2016 but trading momentum is improving. Returns on capital have been poor but the founders continue to run the business and remain its largest shareholders. Have lessons been learned?

Rbg Holdings (LON:RBGP) - acquisitive professional services group adds another business to the fold and sees further consolidation opportunities in its sector.

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Paul's Section

Christie (LON:CTG)

105.5p (down 5% yesterday) - mkt cap £29m

Preliminary Results

Christie Group plc ('Christie Group' or the 'Group'), the leading provider of Professional & Financial Services (PFS) and Stock & Inventory Systems & Services (SISS) to the hospitality, leisure, healthcare, medical, childcare & education and retail sectors, is pleased to announce its audited preliminary results for the 12 months ended 31 December 2020.

Reading through the commentary, it immediately struck me what a sprawling group of different businesses this is, considering the market cap is only £29m.

Christie Group operates in two complementary business divisions: Professional & Financial Services (PFS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PFS - Christie & Co, Pinders, Christie Finance and Christie Insurance: SISS - Orridge, Venners and Vennersys.

Tracing its origins…

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