Good morning, it's Paul here.

Graham was meant to be writing today's SCVR, but he's been overtaken by unforeseen  international travel delays, so at this late stage, has asked me to cover for him.

I had been gently winding down for a lazy day, and lunch with Mum, but that's all gone out of the window now! Instead I'll have to try to think of something sensible to say about small caps, at short notice. Will do my best!

To get you started today, I wrote big expanded sections late yesterday, in the evening, on both Porvair (LON:PRV) and Cake Box Holdings (LON:CBOX) , both of which I think look potentially interesting (with some reservations). The completed version went live at almost 1am, after a lot of work.



(7-8 am section - I can only do these with prior notice & an early night, so not applicable today, I'm afraid)


Cerillion (LON:CER)

Share price: 170.5p (up 4.3% today, at 10:26)
No. shares: 29.5m
Market cap: £50.3m

Major contract win

Cerillion, the billing, charging and customer relationship management software solutions provider...

Not to be confused with Carillion, of course!

I don't normally mention contract win type announcements here, as they're often spurious. However, Cerillion has been on my radar (thanks originally to Graham flagging it here) as a reasonably-priced growth company. It supplies what looks like mission-critical billing software to telecoms companies. That suggests to me sticky revenues, always a good thing.

I reviewed its most recent interim results here on 20 May 2019, and flagged that it might be a buying opportunity, if the company is able to hit full year targets (which at the time looked a tall order, but it looks like the company should now achieve targets). Although interim results were not good, management flagged that 2 high value contracts were imminent.

Sure enough, they've announced winning two major contracts, one here on 14 June 2019, and the second today. That's impressive - as it means we can rely on management commentary & outlook statements. Previous commentary was not just baseless optimism, they told it how it is - a big thumbs up for that.

It would be a great idea…

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