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

Free! Mello online event tonight at 5pm, trusts & funds. More details here.

Agenda -

Paul's section:

The BBC reports on SMMT data showing a big drop in new car sales.

Scs (LON:SCS) (I hold) - I'm spending most of this morning working through the numbers & narrative. So please bear with me, hope to have a big section up on this by lunchtime.

Wincanton (LON:WIN) - an in line with expectations year end trading update reassures, and has put +8% on the share price today. We do need to adjust for the large pension scheme cash outflows, which will limit divis until 2027. However, even allowing for that, the valuation looks quite attractive to me. Could be worth a closer look, in my view.

Jack's section:

Gooch & Housego (LON:GHH) - Profit slightly ahead of mgmt expectations. Looks like a good company that emerges from lockdowns with a reduced cost base and an improved outlook. Acquisition opportunities going forward, and work continues in collaboration with customers on new product development. The valuation prices a lot in for now though, I'd want a lower price.


Explanatory notes -

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Paul's Section

New car registrations

The BBC reports (using SMMT data) that UK new car registrations have fallen to the lowest level for two decades, due to widely reported problems that automotive manufacturers are…

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