Good morning, it's Paul here!

Apologies, I conked out after getting back home yesterday, so nothing more got done for the day. Pangs of guilt got me out of bed early today, so let's start with a few snippets of news left over from yesterday: 



Water Intelligence (LON:WATR) - the share price rose 7% to 308p (mkt cap of £47m) on a

Positive trading update.

  • The company mainly operates in USA, fixing water leaks, partly through franchisees.
  • Sales for YTD (9 months to 30 Sep 2018) up an impressive 40%, to $18.5m.
  • Profits also doing well;
Underlying profits before tax comfortably in-line with expectations, despite significant reinvestment expenses

There's lots more detail in the RNS - I'd say it's worth taking a look.

My opinion - The valuation looks high, at 35 times this year's forecast earnings, dropping to 28 times 2019 forecast, but I suppose bulls must be hoping these figures can be beaten. This looks quite an interesting growth company.



WYG (LON:WYG) - an "international project management and technical consultancy"

  • In line with expectations interim results.
  • Full year guidance unchanged
  • Order books stable
  • Expecting a stronger H2, as usual seasonality
  • Divi maintained (yield is quite good, at 4.3%)

I'm not keen on the balance sheet, with a lot of working capital tied up in work-in-progress and receivables. NTAV is under £2m. Doesn't interest me.



Vianet (LON:VNET) - this group owns the "Brulines" beer flow monitoring business, and several vending machine telematics businesses.

  • Interim results look OK, if unexciting - which sums up this share actually
  • Revenue up a little
  • Adjusted operating profit up 6% to £1.8m in H1
  • Net debt of £1.0m (worse than net cash of £2.7m a year earlier)
  • Interim divi held at 1.7p

Outlook - I can't find anything relating to market expectations for the full year.

My opinion - the PER of 10, and yield of 5.4% look about right to me.

New products seem to take years to develop commercially, and then only on a small scale. Meanwhile the Brulines business faces a continuous headwind of pub closures. So it's difficult to get excited about this share.



Now onto today's results/trading updates;


Joules (LON:JOUL)

Share price: 207p (pre market open)

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