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

Agenda -

Paul's Section:

Card Factory (LON:CARD) - interim results show a small loss, due to lockdown 3. Footfall still well down on pre-pandemic level, but average transaction value is higher. CARD has missed the boat online, with only trivial eCommerce sales, an area now dominated by e.g. Moonpig (LON:MOON) . Bank debt still a problem, and very weak balance sheet, means high risk of dilution. I'm steering clear.

Heiq (LON:HEIQ) - poor interim results, way down on last year's H1. Wobbly-sounding outlook. It's halved in price, but still looks over-valued to me.

Go-ahead (LON:GOG) - lost southeastern rail franchise, due to accounting "errors". CFO resigns & accounts delayed. I'm steering clear.

Escape Hunt (LON:ESC) - improved trading recently, since reopening, but it's not yet clear whether this is a viable business being rolled out, or just a fad.

Quiz (LON:QUIZ) (I hold) - results for FY 03/2021 show a heavy underlying loss, as expected. However the commentary shows encouraging signs of much improved current year trading, improving gross margin, and a positive outlook for FY 03/2022. This is very much a glass half full or half empty share! I see it half full, with recovery underway, but others may disagree.

Jack's section:

Air Partner (LON:AIR) - trading figures are down on exceptional H121 figures but are up on H120, which is a more appropriate comparison. A couple of significant acquisitions have been made over the past couple of years and if the group can generate sustainable growth going forwards, then the share price today does not seem expensive.

Fulham Shore (LON:FUL) and Comptoir (LON:COM) - two listed restaurant companies, both reporting positive trading, but with two very different valuations and track records.


Explanatory notes -

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