Good morning! It's Paul here with the SCVR for Weds.

Agenda -

Concurrent Technologies (LON:CNC) - "slightly ahead" trading update for FY 12/2021. I like the numbers - a reasonable PER, good reliable divis, and a superb balance sheet. That provides a decent base for further research by readers on the company's products, markets, and prospects. Outlook mentions an exciting pipeline of new products. Potentially interesting, and worthy of further research, I reckon.

ADF - a new float on AIM today from Cenkos. I rummage through the Admission Document, and much to my surprise, think this looks quite good. Most of the money being raised at 50p, is to fund expansion, due to strong demand. Founders retain nearly 50% of the business. It has a fleet of specialist outside broadcasting vehicles for the TV/film industry, with 35% market share in the UK. It plans to expand into Europe through acquisitions. Current trading looks good. Just an initial view, but I like


Industry data - Propel newsletter (which I find interesting & useful) provided sector data yesterday from the hospitality sector - based on widely used software. December trade was obviously well down on 2019, but not as bad as I had feared, especially outside of hardest-hit London. It's a useful reminder that there is price-sensitive industry & macro data out there, which we can often access freely to improve our investing. Hence relying solely on the RNS for company specific data could mean we miss a trick. An excerpt -

Hospitality sales last month were down 12% compared to December 2019, according to the latest data from S4labour, the online labour-scheduling management system from Catton Hospitality. London sites’ sales were hit the hardest as like-for-likes fell by 23% on 2019 levels. Non-London sites also saw downfalls, however by a lesser figure of 10%.

[Source: Morning briefing email (4 Jan 2022) from Propel Info]

Hospitality sector experts Langton Capital also provide a wonderful (and often hilarious) free daily email - there's a signup box here (scroll down, on the left).

I mystery shopped the Bournemouth branch of TGI Fridays (owned by Hostmore (LON:MORE) - I hold) last night, and was surprised at how busy it was. If anyone's interested, I can post some pictures & comments.

This reminds me that a friend told me, before the…

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