Good morning, it's Paul & Jack with you today.

Agenda - 

Paul's section:

Joules (LON:JOUL) (I hold) - yet another profit warning, from this very disappointing share. The CEO is leaving, probably a good thing - I think it needs a more hard-nosed rag trader to sort out the basics here, and strip out bloated overheads. Net debt is under control. I'm obviously frustrated with poor performance at Joules, from self-inflicted wounds. But with a tiny market cap, this could multibag on a recovery, or bidding interest. 

Jack's section:

Wynnstay (LON:WYN) - I hold - ongoing conflict in Ukraine and the disruption of supplies from Russia means Glasson Grains continues to experience substantial one-off gains. As a result, FY22 profit should be ahead of expectations. These conditions won’t persist forever though, and the stock is close to all time highs, so valuation is a consideration.

Mpac (LON:MPAC) - increasing operational challenges due to macro conditions, but trading is in line and the prospects pipeline is ‘significantly above the previous year’. Longer term prospects remain positive. The shares spiked down recently before recovering, so perhaps one to watch in case something similar happens again.


Explanatory notes -

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Paul’s Section:

Joules (LON:JOUL) (I hold)

36p (down 33% at 08:20)

Market cap £41m

Board, Strategic & Trading Update (profit warning)

This must be the third profit warning in the last…

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