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:

Totally (LON:TLY) - results from yesterday. Only trading around breakeven at PBT (I see EBITDA as a red herring, due to high depreciation & amortisation charges). Growth potential, but for me the £77m market cap looks high enough, or too high for where things currently are.

Somero Enterprises Inc (LON:SOM) (I hold) - what a lovely company! High quality, cash generative, and we're treated to another strong trading update today. Broker forecasts go up c.14%. Still looks good value to me.

Quartix Technologies (LON:QTX) - an in line with expectations update for H1, and confirms full year guidance. Impressive growth in fleet numbers, and overseas expansion going well. Valuation is too rich for me personally, but I like the business and management.

Redde Northgate (LON:REDD) - as it's not a small cap any more, I've commented on its results today in the comments section below this article, so please see that area if you're interested in this company.

Jack's Section:

Kinovo (LON:KINO) - notes from a follow up Q&A session with company management following yesterday's results, which saw the share price fall c7%.

Accesso Technology (LON:ACSO) - revenue expectations for FY21 have been upgraded again, this time to more than $100m. Trading sounds encouraging but not much to go on yet in terms of concrete figures.

Wincanton

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