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Quoted Micro 8 August 2016


Chapel Down Group (CDGP) has exchanged contracts on the 1.6 acre site in Ashford that will be used for the proposed new Curious brewery. The deal will be completed when planning permission is obtained.

Valiant Investors (VALP) has raised £71,000 at 0.1p a share in order for it to finance the development of 83.3%-owned apps developer and marketer Flamethrower.

Milamber Ventures (MLVP) says that its grant application partner Private Shares has invested £25,000 at 16p a share and it will invest a further £25,000 at the same share price once Milamber holds a concept development workshop. Any grant writing services provided before 18 February next year will be paid for in shares at 18p each. Milamber non-executive director Barney Battles has invested £12,500 in shares at 16p each and also converted £12,500 of fees into shares at 18p each.


A positive trading statement from software robots company Blue Prism (PRSM) lead to a share price rise of more than two-fifths. The share price was already nearly double the flotation price of 78p and it reached 211p at the end of the week. A new contract has been won with a major bank and another large bank has renewed its contract for three years. This means that the full year figures will be better than expected.

Branded interior furnishings supplier Walker Greenbank (WGB) has received a second interim insurance payment of £3.2m relating to the flooding at the Standfast & Barracks printing factory in Lancaster at the end of 2015. A payment of £8m had already been paid. An £800,000 payment is expected soon and there could be more to follow. The factory is almost back to full production following the installation of new digital printers and the backlog of orders is being fulfilled. Overall group trading is in line with expectations. UK sales have fallen but overseas sales have grown. There could be a modest boost from the weakness of sterling.

Domain names wholesaler and services provider CentralNic (CNIC) has been awarded the contract to distribute the .FM domain by its owner BRS Media. CentralNIc plans to promote the top level domain to online streaming businesses. The deal also includes the launch of other domains including .AM.

Asset management software provider StatPro (SOG) continues to transfer customers to its StatPro Revolution SaaS-based service. In the six months to June 2016, revenues improved from £15.4m to £17.6m, while underlying pre-tax profit was slightly lower at £827,000. The real benefits of the transfer to monthly revenues for Revolution will show through next year. Edison forecasts a small increase in profit from £2.6m to £2.8m this year and then a 2017 profit of £3.7m.

Ultrasound simulation equipment developer and supplier Medaphor Group (MED) is acquiring Inventive Medical Ltd, which sells cardio ultrasound simulation products under the HeartWorks brand. Medaphor already has a relationship with Inventive Medical and the companies’ products are complementary. Medaphor is paying £3m in shares – at 43p each – for the company. Loss-making Medaphor has £3.5m in the bank and this should last until the end of 2017.

TechFinancials Inc (TECH) enjoyed a strong first half, which has reassured investors following the disappointment of its failed joint venture in Asia. Revenues grew by 30% to $9.6m, while EBITDA nearly doubled to $1m.Full year forecasts have not been changed but there could be scope for upgrades later in the year.

Cloud-based communications software and services provider CloudCall Group (CALL) is raising up to £3.77m at 57.5p a share – a 3.6% premium to the previous closing price. The cash will be used to expand sales activities, particularly in the US. This investment will be coordinated with its partner Bullhorn, which is starting to sell outside of its core recruitment customer base. CloudCall’s product is used by 12% of Bullhorn’s UK customers and 2% of its US customers.

MayAir Group (MAYA) has announced the commencement of a share buyback of up to 10% of its share capital. A maximum of £5.76m can be used for this buyback. This follows $17.7m of industrial and commercial clean air equipment contract wins in recent weeks.


Engineering and environmental consultancy Waterman Group (WTM) expects to report a full year pre-tax profit in excess of its target of £3.3m. Waterman had set itself the target of tripling its profit in the three years to June 2016. Net cash has increased from £3.8m to £5.4m. Trading continues to be strong. The results will be published on 10 October.

Andrew Hore

WH Smiths Off On The Road to Recovery

Tesco TSCO  The 40% fall in net debt is probably the best item in Tesco’s preliminary results and they are perhaps entitled to boast of a turn round in quarter 4, except in its home markets of the UK and the Republic of Ireland where it still seems to have lost the plot. Group like for like sales growth for quarter 4 came in at 1.6%, with International showing a healthy 3.8% and Europe 4.1%. But where was the poor old UK ? Last of course, with a miserable rise of 0.9%, beaten by Ireland with 1%, hardly matching the company’s claim that it has become competitive again in those markets, which must be nonsense  when one looks at the growth of its German competitors.

Over the full year Tesco managed to produce zero growth, its performance in Europe and other  wealthier parts of the world overshadowed by continual decline in the UK and Ireland.

The second good thing is that Tesco has actually made a profit for the year of just over £1,046m. compared to the previous year’s disastrous £5 billion loss.

Tesco also proclaims that the customer is once again its prime focus and always will be, which is presumably why it stopped international delivery of online orders. Once again actions showing the emptiness of fair words.

Tesco can be praised for having stopped the rot.  It will be interesting to see how far it can go in the current year to begin growing new shoots.

WH Smith SMWH has at long last enjoyed a strong first half, with profit before tax for the 6 months to 29th February up by 11%. It says something about the state of the company when it can boast that flat like for like sales is its best result for many years. Cynics amongst us had often wondered for how long it could go on squeezing more profit out of declining revenue. What is particularly pleasing i that it has also done well in its traditional markets where stationary and books were particularly strong.

Halfords HFD produced strong quarter 4 growth with revenue for the 11 weeks to 1st April up by 3.2% but cycling became the laggard with Q4 like for like sales up by only 1.9% compared to motoring and car maintenance which rose by 3.5 and 3.9% respectively. Cycling revenue for the full year actially fell by 0.9%.

Telford Homes TEF anticipates profit before tax for the year to 31st March will be slightly above what market expectations as it benefits from continued investor interest and relatively affordable apartments in London where its average price remains comfortably below £600,000.

Walker Greenbank WGB is raising its final dividend by 25% after sales rose by 5.4% and profit before tax by 15.9% as it completes recovery from serious flooding

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