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Buying has been coming in at 155p today. Looking good.

Peel Hunt have reiterated their Buy and 25p target this morning:

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

Winnings1, I'm very happy to have my investment here, with no sleepless nights and confident of further organic growth supplemented by further acquisitions.

I also note that INSE's other quoted sector comparator UTW lurches from disaster to disaster after today's news. It now has a m/cap of just £20m.

At some point there may be an argument for INSE acquiring it, though I have no idea how much overlap there is. There must be considerable room for synergies, though I suppose the management charged with turning around UTW would probably not be best pleased with a knockdown offer.

In the meantime INSE should make hay with UTW's client base and in competition for new contracts given the latter's troubles.

Just out - ACSO have a new major institutional holder, with Liontrust Investment Partners buying and going above 5% with 1.365m shares:

Https://www.investegate.co.uk/accesso-technology--acso-/rns/holding-s--in-company/201809041031027112Z/

Good H1 results today, with a very confident outlook statement.

Revenues up 33%, EBITDA up 39%, dividend up 19% and adjusted EPS up 13%. With the various acquisitions kicking in fully in H2 INSE should achieve a minimum 1.7p-1.8p EPS this year, making it pretty cheap at these levels.

There are confident noises about more acquisitions too, which should help things along nicely.

And the outlook is strong, with the order book continuing to rise and the narrative impressive:

"Our excellent performance in the first half of 2018, underpinned by strong organic growth, provides a strong operational and financial platform for the full year. The Group is well placed to deliver another set of record results, as we continue to benefit from further organic growth and the net contribution from the three recent acquisitions."

IQE are already cheap in pure EPS terms for a company in their sector given the forecast 4.6p EPS for the coming year, let alone with a sound Balance Sheet given the large cash pile.

I would expect that as Apple confirm inclusion of FaceID for more of their smartphones - plus it seems the iWatch - and as the realisation grows that many Android phones will be incorporating facial recognition in the coming months, IQE's share price will rise very nicely indeed.

It's not all about P/E ratios, as the likes of WAND, PRSM etc have shown. It's also about perceptions going forward. IQE have the added advantage over those companies of being highly profitable on a decent P/E as well as having several disruptive technologies.

following a 50,000 share buy at 151p. Encouraging to see the continuing buying interest at these levels.

Tipped here earlier this week:

Https://www.fool.co.uk/investing/2018/08/28/these-2-small-caps-could-become-dividend-champions/

"Follow the money

Manufacturer of laser-guided construction equipment Somero Enterprises (LSE: SOM) is an excellent example of the rule that boring businesses tend to make the best investments.

Over the past six years, its net profit has expanded at a rate of around 80% per annum! Thanks to this growth, shares in the company have more than quadrupled in value since mid-2013.

City analysts believe the group’s growth will slow over the next two years. Analysts have pencilled in an earnings per share (EPS) increase of just 17% for 2018 and 5% for 2019, a significant drop on the 80% per annum recorded between 2012 and 2017. Still, what Somero lacks in earnings growth, it more than makes up for in dividend potential.

The shares currently yield 3.9%, but this is expected to hit 5.5% by 2019. According to analysts, Somero’s per share payout will jump 42% by 2019. With $20m of net cash on the balance sheet, and dividend cover of 2 times (for 2017) it can easily afford this growth. And I believe it could be just the start of the company’s life as an income champion because its operating profit margin of 30% gives the firm plenty of free cash flow to play with every year. Even as growth slows, management can afford to hand more cash to shareholders.

As well as its dividend profile, shares in Somero currently trade at an attractive forward P/E of 12.5. So if you’re looking for a small-cap dividend growth play, in my opinion, this company is certainly worth a deeper look."

Looks like next week WJG will get approval for a new student and PRS apartment development for hundreds of units in Sheffield:

Https://www.insidermedia.com/insider/yorkshire/student-and-prs-flats-plan-set-for-approval

"Student and PRS flats plan set for approval
29 Aug 2018

Plans for the development of hundreds of student and private rented sector (PRS) apartments on a site in Sheffield city centre are set to get the green light from councillors next week (4 September).

The Watkin Jones Group, supported by DLP Planning and Kelsey Design Associates, submitted a full-planning application to Sheffield City Council earlier this year for a development on the site of Silversteel House on Rockingham Street and associated land bound by Rockingham Street, Boden Lane and Bailey Lane.

The scheme, known as Grunwergs 2, would comprise hundreds of new residential units with a mix of clusters, studio, one- and two-bedroom apartments.

The cluster apartments would be purpose-built student accommodation with a total of 618 bedrooms as well as include ancillary facilities including management, suites and social study spaces. The 72 studio, 39 one- and 32 two- bedroom flats would be PRS accommodation.

A 4,170 sq ft commercial unit will also be developed on the ground floor suitable for a range of uses. If approved, the development is scheduled to be ready for occupation by September 2021.

The façade of the partially surviving J & Riley Carr building on Bailey Lane would be retained, including the statue of Stanch the dog.

The application is recommended for approval in a planning officer's report prepared for Sheffield City Council next Planning and Highways committee meeting on 4 September, subject to conditions.

The report said: "The proposed development, which is considered to be acceptable in land use terms, provides an appropriate scale of enclosure to the eastern side of Rockingham Street and responds positively to the local topography.

etc"

Here's more detail on Berenberg's initiation:

http://www.proactiveinvestors.co.uk/companies/news/203883/berenberg-presses-play-on-a-host-of-uk-video-games-makers-including-codemasters-and-frontier-developments-203883.html

"Frontier has serious potential

As for Frontier, May and co call this the “multi-year play”. They expect the company’s current titles, which include Planet Coaster and the new Jurassic World game, to outperform in the near term. The real potential lies further down the line though.

“With Frontier in a position to release at least one new title per year, its capacity to scale its IP portfolio is at an inflection point,” read the note.

“We, therefore, envisage a roadmap for Frontier to have ten franchises by 2023 (from four currently). If it achieves this, EBIT [underlying earnings] could surpass £60mln (more than 3x our FY 2019E forecast).”

The analysts have set a punchy price target too, forecasting the share price to rise to 1,600p over the next 12 months."

Consistent buying is starting to have an effect.

Good to see industry award recognition for IMO:

Https://imimobile.com/imimobile-wins-innovator-award/

"News / 29th August 2018

And the winner is… IMImobile wins ‘Innovator’ Award at NICE inContact DEVone Partner Conference

Businesses are always trying to win and retain customers. Today, customer experience is one of the highest rated criteria for consumers when buying goods or services. Contact centers, the frontline of customer engagement, have become a crucial part for enterprises to deliver and differentiate their customer experience and service strategies.

At the annual NICE inContact DEVone Partner conference in Salt Lake City, Utah, which was attended by more than 350 partners and NICE inContact employees, IMImobile was named a winner of the DEVone Partner Award in the ‘INNOVATOR’ category. IMImobile has been recognized for developing products that deliver great CX and are easy to integrate with NICE inContacts’s CXone cloud platform. Products such as IMIbot, IMIchat and IMIconnect – available via the CXexchange Marketplace – help NICE inContact customers integrate digital messaging channels, deliver omnichannel chat services and drive intelligent automation....

....How we help transform contact centers

IMImobile helps enterprise clients to accelerate the process of digitizing customer engagement, enabling them to provide instant, low-effort automated resolutions and personalized interactions on the channels their customers use every day. Leading enterprises are using IMImobile’s cloud-based software solution to:

• Lead with a messaging-based experience by integrating digital messaging channels into their customer service strategy, i.e. SMS, webchat, email, Facebook Messenger, Twitter, etc.

• Create a new frontline for contact centers using AI-chatbots to automate FAQs, enable self-service and increase proactive resolution.
• Deflect voice traffic to cheaper communication channels – some clients have seen a reduction in operational costs by 20%.
• Improve agent productivity by providing a blended omnichannel chat environment – agents can have up to six messaging-based interactions simultaneously.
• Create, manage and deploy automate customer journeys across legacy systems and business processes 10x faster.
• Improve customer satisfaction ratings (CSAT/NPS) and first contact resolution whilst enabling cross/up-sell opportunities.

etc"

Should be a good day - Berenberg initiates with a Buy, target 1600p:

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

Axxion have bought another 720,000 shares in the last 3 weeks and now have 5.15m:

Https://www.investegate.co.uk/carclo-plc--car-/rns/holding-s--in-company/201808291708391885Z/

Interesting that whilst Canaccord have retained their forecasts for this year....

"For 2019 on the other hand, he revised his EBIT estimate 9.0% higher to £47.0m.

"We increase revenues to reflect the diversification of VCSEL customers with the addition of Android OEMs for 3D sensing applications and new guidance suggesting stronger Photonics margins. This leads us to increase FY19 EBIT by 9% to £47m. This takes EPS up to 4.8p which leaves the shares on a highly attractive 22x P/E for almost 50% earnings growth in FY19E."

https://uk.webfg.com/news/aim-bulletin/iqes-bottom-line-buffeted-by-fx-pre-production-costs-at-new-foundry--3460294.html

Per the IDEA web site - it's good to see IDEA winning business in Biotechnology, and it seems there's more work to come:

"The project with Ideagen comes as Purolite looks to expand its operations in biotechnology – with future plans to utilise the Q-Pulse system within its sites in Romania, the United States, and China."

https://www.marketscreener.com/IDEAGEN-PLC-6677139/news/Ideagen-Purolite-Corporation-implements-Ideagen-s-Q-Pulse-27167693/

"Mark Price, Regulatory and Quality Corporate Manager at Purolite, said: 'The project with Ideagen is a major investment as we are looking at the agarose market and see our future operating within the likes of the Biotech Industry; a high value, heavily regulated industry."

Very nice - that looks like a £1.25m buy at 2660p just now.

After yesterday's deals Equity Development have a full research update now out reiterating forecasts, 230p fair value and reasons for premium rating vs peers:

https://www.equitydevelopment.co.uk/edreader/?ltkn=f074119f31619b61c4dea168359004984d2rKeoT&d=%3D%3DgM2QjM

Summary:

"Watkin Jones provides the end-to-end development and management of large scale, multi occupancy accommodation, focusing on purpose built student accommodation (PBSA) and residential build to rent (BTR).

The UK’s 67m population is growing at a healthy 1% pa clip, albeit there was a slight dip in the birth rate at the turn of the Millennium. Leading this year to a 3% fall in the number of 18 year olds, and a 1.9% decline in British students accepting places at University (UCAS). Offset partially by a 3%-4% increase in overseas applications, leaving the total 2018/19 freshers’ intake very marginally lower (-1.1%) at c. 530k.

But the good news is that this trend is set to reverse strongly between 2021-31, and students are trading up, particularly in their 2nd and 3rd years when typically forced into lower quality digs.

Yesterday Watkin Jones said that it had exchanged contracts on a new 599 bed site with planning consent in Wembley (London) from Kelaty Propco Limited for an undisclosed fee. The project is scheduled for completion at the start of the 2021/22 academic year – adding approx 20% to that period’s output, and ~6% to the entire >10,000 unit pipeline.

But that’s not all. Elsewhere, Watkin Jones is leveraging its expertise in the expanding Build-to-Rent sector (BTR), where it further announced yesterday a new development agreement relating to a 300 apartment scheme on adjacent land with the same vendor. This time construction is set to finish in Mar’21 - lifting the pipeline by >18% to 1,900+

Consequently, we make no change to our projections or 230p/share valuation. Reiterating too, that the business deserves its premium rating vs peers, reflecting the superior growth, asset turns, lower risk and cashflows generated."

N+1 Singer today reiterate their Buy and 181p target, concluding:

"We will update our forecasts to reflect the new capex and tax guidance, but with the group trading in-line with expectations (at current exchange rates) we do not expect to make major adjustments to full year revenue and EBITDA forecasts. Trading on a consensus FY’18 PER of 27.3x, IQE currently sits at a c.20% discount to international peers.

Given the expected ramp up in Photonics volumes from multiple customers in H2’18 and beyond we believe the discount is unwarranted and remain at Buy."

Good to see current year forecasts have been reiterated given the H2 ramp-up and the 40/60 H1/H2 split we already knew about for this year.

2019 looks terrific, with special mention for the first Android implementations.

H1 suffered due to investment costs and currency headwinds. Of course, those are now currency tailwinds for this H2 given the pound's recent decline- with 60% of revenues in H2 making the bias much more rewarding for IQE.

Those looking in the rear view mirror will find things to moan about. Those taking encouragement from everything else will find lots to be very, very positive about.

Interesting snippet this morning from Aston Martin's IPO announcement - the Valkyrie is using SCE's carbon ceramic brakes, so hopefully this is a pointer towards additional future usage:

Https://www.investegate.co.uk/aston-martin/rns/publication-of-reg-document---h1-2018-results/201808290703040992Z/

"In addition, the widely anticipated Aston Martin-Red Bull co-designed hypercar, the Aston Martin Valkyrie, is the product of the strategic partnership with Red Bull Advanced Technologies. The investment in, and development of, technology through the design of the Aston Martin Valkyrie will inspire other future models in the range, in particular Aston Martin Lagonda's mid-engine hypercars and supercars."