Good morning! It's Paul & Jack here with the SCVR for Wednesday.

I didn't finish yesterday's report until 16:30, so there were 6 companies covered in total. Here's the link, in case you missed the extra sections added yesterday afternoon.

Timing - I've got 2 company zooms to prepare for later today, and it's quiet for company news. So we're aiming to rattle through everything & have this report finished by 10:30 - tough target, let's see if we can actually do it! Today's report is now finished.

Agenda -

Paul's Section:

Blancco Technology (LON:BLTG) - FY 06/2021 trading update. Revenue meets, profits beat forecast (not stated). Cost-cutting related to the pandemic drove this out-performance. I'm not keen on the aggressive accounting at BLTG, and the patchy track record. Although it is now demonstrating growth, and meaningful profits, so could become interesting if growth continues. High PER (c.45) looks too pricey to me.

Vp (LON:VP.) - today's companies look generally dull, so I've gone back to this equipment hire company's update from yesterday. It looks good to me - a reasonable forward PER of 12, divis coming back, soundly financed & seems well run (apart from a fine from the competitions watchdog). Thumbs up from me!

Jack's Section:

Global Ports Holding (LON:GPH) - quarterly update light on financial data. The sale of Port Akdeniz helps the financial position but it's still too early to point to any meaningful improvement in trading.

Dewhurst (LON:DWHT) - interesting family-owned industrial company, but one whose share price has more than doubled recently and now finds itself facing some potential trading volatility in the short term. As with other companies, supply chain issues are flagged.

Paul’s Section

Blancco Technology (LON:BLTG)

270p (pre market open) - mkt cap £204m

Trading Update

Blancco Technology Group PLC (AIM: BLTG, "Blancco", the "Company" or the "Group"), the industry standard in data erasure and mobile device diagnostics, is pleased to provide the following trading update for the year ending 30 June 2021 ("FY2021").

Revenues - in line with the Board’s expectations. Significant growth in H2, despite sterling strengthening (bad for US denominated revenues)

Strong structural tailwinds (e.g. ESG)

Sales through channel partners has driven growth

Higher profit margins due to cost-savings, driven by the pandemic (e.g. less travel)


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