Good morning, it's Paul & Jack here with the SCVR for Tuesday. Welcome back Jack, and thank you to Roland for covering, much appreciated, as it makes my workload a lot more manageable, especially welcome when I'm away from home.

Today's report is now finished - we covered 6 companies, trying to focus on the more interesting ones. Apologies if we missed anything you like, there were far too many companies reporting today to cover everything.
Agenda -

Paul's Section:

Ted Baker (LON:TED) - a lacklustre Q2 trading update, in my opinion. It's in line with expectations, but it's expected to be loss-making this year. Not much sign of online growth, and store sales still well below pre-pandemic levels. An unconvincing turnaround so far, in my view, so why get involved?

Luceco (LON:LUCE) - sparkling interim results - this company has done amazingly well in the last year. Fascinating commentary on supply chain issues, and cost inflation - worth everyone reading, as it has read-across for many other companies.

Parsley Box (LON:MEAL) - this niche ready meals company has flopped since floating about 6 months ago, with the price now roughly half the peak. Slower growth, and heavy marketing spend combine to produce a thumping H1 loss.

Renew Holdings (LON:RNWH) - another strong update, materially ahead of forecast for FY 09/2021. Impressive!

Jack's Section:

Concurrent Technologies (LON:CNC) - solid company with a multi-decade operating track record but pedestrian growth in recent years. This is a good company with a strong balance sheet and decent longer term potential, but management is clearly communicating short term headwinds.

Midwich (LON:MIDW) - specialist audiovisual distributor reporting improving trading momentum. It has scale on its side and a busy acquisition pipeline, but business is relatively low margin and a recent c40% rerating limits the attraction


Explanatory notes -

A quick reminder that we don’t recommend any stocks. We aim to cover trading updates & results of the day and offer our opinions on them as possible candidates for further research if they interest you. Our opinions will sometimes turn out to be right, and sometimes wrong, because it's anybody's guess what direction market sentiment will take & nobody can predict the future with certainty.

We stick to companies that have…

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