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

Timing - today's report is now finished.

Disclaimer -

A friendly reminder that we don’t recommend any stocks. We aim to cover notable trading updates & results of the day and offer our opinions on them as possible candidates for further research if they pique your interest. We tend to stick to companies that have news out on the day, and market caps up to about £700m. We avoid the smallest, blue sky type companies, and a few specialist sectors (e.g. resources, pharma/biotech).

A central assumption is that readers then DYOR (do your own research) and discuss in the comments below. The comments, incidentally, sometimes add just as much value as the articles. We welcome all rational views, whether bull or bear!

It's helpful if you include the company name or ticker within reader comments, otherwise some readers may not be aware of what company you are commenting on.

Agenda -

Paul's Section:

I enjoyed watching this webinar from our friends at PIWorld last night, with stock picker Richard Lennard. He always comes up with some interesting stock ideas, and I'm following up on his positive mention of recent float (LON:MADE) . Entertaining delivery too, he's quite a character! A lot of us did very well on Redde Northgate (LON:REDD) (I hold) at least partly thanks to his prompting last year.

Zoo Digital (LON:ZOO) - results from yesterday strike me as unimpressive. Very poor 21 year track record, of never really making any genuine free cashflow. Yet another placing done in April 2021. Why is this valued at £100m?

Finsbury Food (LON:FIF) (I hold) - this trading update sounds positive, but fails to explain the key point, whether the company is trading in line with expectations or not. I think in this case it's safe to assume it's doing OK, and by my calculations could be 7% ahead of market expectations for FY 06/2021. Looks good value on a PER of about 10.

Portmeirion (LON:PMP) (I hold) - H1 (quiet half) trading update doesn't explicitly state performance vs expectations (how annoying) but does imply that everything is fine. Nice turnaround underway here, and the valuation still seems reasonable. All-important H2 trading yet to come, but…

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