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Zooming up again today....

Zooming up today....

Great to see Liontrust more than doubling their stake to 11.86%:

https://www.investegate.co.uk/accesso-technology--acso-/rns/holding-s--in-company/202003261342387475H/

And BlackRock increasing to more than 6%:

https://www.investegate.co.uk/accesso-technology--acso-/rns/holding-s--in-company/202003251543436076H/

Incidentally, this contract win news from last week hasn't been reported here:

Https://interpark.co.uk/accesso-teams-up-with-itv-to-offer-accesso-passport-ticketing-suite/

"accesso teams up with ITV to offer accesso Passport ticketing suite

Accesso, an award-winning provider of technology for attraction operators, has formed a strategic agreement with ITV Broadcast, to implement a ticketing suite known as accesso Passport.

The suite provides a number of interactive experiences to connect ITV’s experiences and tours with prospective customers around the world.

The accesso Passport ticketing suite will be available across ITV’s Coronation Street The Tour and the Daytime Studios Tour, as well as a new attraction opening in Manchester.

The innovative ticketing suite will enable ITV to manage transactions seamlessly and simultaneously build customer loyalty via a wealth of intuitive membership tools.

Designed to drive revenue, the ticketing suite provides easy up-sell, cross-sell and quick-sell prompts while helping guests seamlessly plan their visits to ITV tours and attractions.

James Penfold, ITV controller of partnerships, commented on the new partnership with accesso: “In accesso, we’ve found an essential platform for our ticketing and distribution operations, which are crucial to both our company’s success and the full satisfaction of our valued guests.

“With their worldwide client base and team’s dedication to client services, we are incredibly excited for all the benefits this partnership promises,” Penfold added.

etc"

There's a good chance that IMO are involved in this as O2 are a long-standing IMO customer:

https://www.bbc.co.uk/news/amp/technology-52017451

I also note that IMO have a web page up covering their tech helping to overcome this crisis:

Https://pages.imimobile.com/crisis-communications

Financial services specialists Charlton Illingworth have analysed the entire sector to come up with a table showing the best value/cheapest to most expensive stocks based on historic P/E versus CAPE.

AFHP are the cheapest stock of all the 51 stocks measured.....

Https://www.charltonillingworth.co.uk/valuations-lawyers-lenders/

"With no clue what earnings might be this year I checked my watchlist for historic PE vs the year average PE inflation adjusted. The list is below."

The trading update is late. Hopefully any day now.

Likely due to either or both (1) having to finalise the figures given logistics difficulties due to the virus, and (2) having to count all the additional money coming in to Shire Foods from its supermarket customer base :o))

Liberum say Buy today, with an 1860p target price (adjusted slightly from 1875p):

Https://investing.thisismoney.co.uk/broker-views/

Yesterday's RNS saw results in line with expectations, and COVID-19 disruption looks pretty minimal and short-term to date, with the Chinese operations in full production. Indeed, KWS are:

"currently seeing an increase in the demand for certain services, as existing and new clients look to us for support during this challenging time and as they reappraise their production arrangements".

Goodbody Stockbrokers are positive:

Https://www.irishtimes.com/business/technology/keywords-shrugs-off-covid-19-impact-reiterates-full-year-forecast-1.4211786

"Keywords sells to 23 of the top 25 most prominent games companies, including Activision Blizzard, Electronic Arts, Microsoft and Ubisoft.

In an analyst note, Patrick O’Donnell of Goodbody said Keywords has the balance sheet and network to consolidate further.

“Our view is it will strengthen its focus on the game’s development space as it expands its footprint,”he said.

Given the scale of its services by geography and service line, it is well positioned to serve that growing market demand for its services as this global lockdown eases and early indications are positive for its Chinese studios which are now back near to full production, Mr O’Donnell added."

Peel Hunt have reiterated their Buy and 25p target price.

Which presumably also means they've retained their 2p EPS forecast for this year - that's a current year P/E of just 6.25:

Https://investing.thisismoney.co.uk/broker-views/

Https://uk.advfn.com/stock-market/london/inspired-energy-INSE/share-news/Inspired-Energy-PLC-Deferral-of-publication-of-res/82085907

- the Corporate Order Book has increased further since the year end
- no material impact on the core Corporate division, whic is 90% of revenues
- the SME division is only 10% of revenues, and demand reduction has been mitigated anyway by large cost reductions

And an optimistic outlook:

"Whilst we undoubtedly are in a period of economic uncertainty, the Board believes that the Group's profitable and cash generative nature coupled with a strong order book and substantial liquidity at its disposal will see it well placed as the economy emerges from the current period of uncertainty."

Great to see from today's RNS that VLG are doing their bit:

"Finally, as part of the effort to combat COVID-19, the Group is manufacturing hand sanitiser gel at its facility in North Lombardy, which it is supplying free of charge on a compassionate basis to local hospitals and pharmacies to help in the fight against COVID-19. Whilst before the outbreak this was not a significant product for the Group, there are now very high levels of demand for this product from retail customers, which the Group is endeavouring to satisfy."

Cenkos actually note that VLG are producing hand sanitiser gel "to meet very significant retail demand", with a proportion being supplied free to local hospitals and pharmacies, so I assume VLG are being properly paid for their supplies to retailers.

Nice summary here:

Https://www.investorschampion.com/channel/blog/coronavirus-impact-25-march-are-any-dividends-safe

"Venture Life: miraculously gets an upgrade

Consumer self-care group Venture Life Group (LON: VLG) has issued a very positive trading update moving the broker to upgrade forecasts. All its business units in the UK, Italy and the Netherlands remain operational with stringent precautions in place to protect employees and comply with government rulings. The group’s Italian business is still allowed to operate as it is considered an essential business.

The group has received orders of over €7m from its Chinese partner (compared to only €0.5m total sales in 2019) for Dentyl and other products, for delivery in 2020.

As part of the effort to combat coronavirus, Venture Life is manufacturing hand sanitiser gel at its facility in North Lombardy, which it is supplying free of charge to local hospitals and pharmacies.

In recognition of the positive news the house broker upgraded forecasts for the year ending December 2020, a highly unusual outcome in the current environment. Forecast adjusted earnings per share of 4.3p equates to a very modest price earnings multiple of 7.8x at the current share price of 33p, which rose 30% on the day."

Kestrel Partners have strongly increased their holding. They now have 29.05m shares, or 15.4%.

They've bought another 5.1m shares since their last holdings RNS:

Https://www.investegate.co.uk/centralnic-group-plc/rns/holding-s--in-company/202003251250025794H/

Good to see 10,000 shares just bought at 72p - a 1p premium above the 71p published offer price.

Encouraging to see 5,659 shares just bought at 37p - a full 2p above the 35p published offer price. Another sign that stock is very scarce.

Liberum today retain their 200p target price.

They also retain their forecast for this year of £10m EBITDA, £4.6m PBT and 5.2p EPS.

There's no forecast for next year, but I suspect when it appears it would be 10p+ EPS? That's pure instinct with no calculation :o))

I also note that their forecasts are based on a £:$ rate of 1.30. Given where the pound is and is likely to stay for some time, I'd say that makes their forecasts extremely conservative.

Evidently not much stock around as the price seems to be moving up after every buy.

A damning report was issued last week about last summer's dam safety incident at Whaley Bridge. The Times' report here indicates that there's lots of work needed to make the UK's 2,000 dams safe.

A good job then that Seymour Civil have expertise in this area and have already been appointed (last October) by Yorkshire Water to their £290m frameworks for this sector:

Https://www.thetimes.co.uk/article/whaley-bridge-dam-charitys-failures-put-lives-at-risk-0jtc6fk28

"An independent report shows how the Canal & River Trust (CRT) failed to carry out essential maintenance to keep the dam safe for residents of the picturesque Peak District town...

...The incident triggered a meeting of the government’s Cobra committee. A rescue operation was launched by the RAF and emergency services to save the town, which was in danger of being washed away by 300 million gallons of water....

...Government sources are understood to be “highly concerned” about the condition of the other 71 reservoirs across the UK currently maintained by the CRT. One Whitehall source said: “This report shows a worrying lack of urgency for important repairs that were recommended, in some cases for years, by inspection engineers.

“We are taking steps to ensure this is not the case with the other reservoirs maintained by the Canal & River Trust.”

There are about 2,000 dams in England and Wales and 800 in Scotland. They create reservoirs for drinking water, fill local canals, help farms or are used for recreation. Many are above towns and cities.

The report’s author, Professor David Balmforth, warned of a gap between owners of reservoirs being “compliant with the current legislation” and “what is actually safe” for communities living in the shadow of the UK’s dams.

etc"

Plenty of volume - looks like the dam has broken. 170,000 shares just bought at 42.5p, and also just now 20,000 shares at 44p - a full 1p above the 43p published offer price.

A superb update.

I've noticed that quite often recently GAN has picked up in the afternoons, so perhaps there really is an effect from Americans buying in after they've woken up. I'd expect a similar effect this afternoon.

New client wins, an upturn in online revenues, virus-proof - what more could you want in this market....happy to hold and hold for much more.

Centamin's operations in Egypt are operating perfecting normally with no disruption, which is great as they're a big client of CAPD's.