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Ignoring all the guff, the key statements is "... in line with the Board's expectations". Of interest is "...we continue to aim for the Group to be generating positive cash flow capable of supporting sustainable cash dividends to shareholders by the end of the Turnaround Plan in FY 2022/23."
Yet another 'steady as she goes'. We may see a drop in price today, and with a PER of 9 this remains cheap.

,,, this Wednesday, 24 November.

The two key figures here are:
EPS back at 2019 level.
Non-leveraged clients up 10% on 2020 and 57% on 2019.
The latter hints at the logic of separating the business, while the former makes you wonder how efficiently this company is run.
This seems like a "wait and see" situation.

due Wednesday. Estimated revenue £222.3m.

Combined operating ration below target.
Policies in force down 1.4%.
Falls largely due to motor insurance declines. That market will remain choppy given the new pricing structures being introduced.
This seems pretty much a 'steady as she goes' update. With growth i own brand and the share buybacks, the dividend is safe and the price here seems about right. Happy to hold.

Largely agree with you here Sniper.
PER is now c11, compared to 21 at HAS, 34 at EMR and 27 at IPEL.
As you say, they have cash, have restructured, and refreshed the management. NFI is only down 20% on pre-virus levels. The results were in line. The restored dividend is a marker of management confidence and their willingness to acknowledge the shareholders. Essentially we are back where we were in June, before the unwarranted rise took place. This may be a decent entrance point.

The Caracal portion is now worth c£1.8m! Bizarre really!
SA is indeed a drag, but the centre of gravity is luckily moving away from here. The company are managing this well.
Re the price of gold: it seems strange to me that there is so much material uncertainty, but gold has remained so sluggish. I am happy to continuing holding here, looking for nearer to 10p.

Operating profit unchanged at £1.403m.
Cash balance £2.34m (down c25%), due to share buy back.
Holding in Caracal Gold (GCAT) up to 9.2% in lieu of cash payment.
Ends with "With initial consideration on the sale of Kilimapesa and majority of the restructuring within the Group completed, we will evaluate our options to return value to shareholders."

All seems promising, with a possible dividend on the horizon.

Will be sold for $375m; having been valued at $373m.
In 2020 in generated $18m PBT.
Cash to be used to pay down debt.
Seems a sensible disposal. Perhaps more to follow?

"...we continue to anticipate full-year revenue for the Group, excluding Liquidnet, to be broadly in line with 2020 on a constant currency basis."
Three negative points here in a single sentence:
1. "revenue" not profit.
2. "excluding Liquidnet" implies a poor acquisition.
3. "broadly in line" translates as " less than".
BUT this still seems oversold to me!

The trading update was a miss, and we have been punished as a result. The end of year estimates will also be missed (barring a miracle) and we will see a further drop as a result. This needs to be on a single figure PER to be cheap. In the long term we should be fine, but I am expecting further drops.

...results today. Cargo at 90% of pre-virus levels, but "Traffic is not expected to fully recover until at least 2026."
Recovery may be slower than expected here.

...for third quarter on Wednesday. They are usually released about noon or soon after.
Forecast EPS = 28.6p
Forecast revenue = £8.69bn

...this Thursday. May be interesting.

,,,from Berenberg today. Rated "Buy", target 275.

Hi Mark
You are right (gave you a thumb up!) The market has found a lot more here than I did. Quidco I am unsure about: it does not seem to make a profit. With a PER around 14 it is not cheap, but it is not overpriced either. I will keep my wary eye on here. Thanks for your guidance.

Third quarter update shows some improvement, but the commentary more or less concludes that energy switching is dead. That will knock a fifth off revenues. Travel related matters are slow to recover, and insurance "markets softened". There is little here to suggest a turnaround within the next year. It is firmly on the back burner now.

Sabre reported today, and noted motor insurance is taking longer to recover than hoped. I realise this is a minor part of the DLG business, but it should be noted. This does, however, seem undervalued to me.

Client numbers up 27%
Revenue up 33%
FX turnover up 67%
Six month results to be announced Mon 8 Nov
BUT, no £££s given, and these increases are from a very low virus-impacted base.

Debt down c25%, and " the outlook for the Group for 2021 remains in line with management's previous expectations". Slow and steady here.