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Today's RNS is primarily about an acquisition, but most importantly, today's RNS also says this: "The Board confirms that the Group continues to trade in line with its expectations for the year ending 31 March 2017." CAR is now extremely cheap imo on a historic P/E of 11. It's good to see an earnings-enhancing acquisition this morning, adding to the LED division: Http://www.investegate.co.uk/carclo-plc--car-/rns/acquisition-of-fltc--europe--a-s-/201703300700109513A/ In particular, this will speed up "expanding its Wipac LED lighting operations into both the low volume and mid volume prestige car markets".

Http://www.fool.co.uk/investing/2017/03/29/2-great-value-dividend-shares-for-your-isa/ "Top value Communisis (LSE: CMS) has seen its share price continue to gallop higher in recent weeks, the stock rising 23% in value since the turn of the year alone and hitting record tops of 56p earlier in March. The marketing ace pumped to those peaks after announcing that total revenues edged 2% higher during 2016, to £361.9m, with profit before tax jumping 15% to £16.7m. Despite its sustained skywards share price charge, however, Communisis still offers splendid value for money in my opinion. While the business is anticipated to endure a 5% earnings fall in 2017, Communisis is expected to bounce back with a 5% rise in 2018. And these predictions result in P/E ratios of 9.3 times and 8.9 times respectively, scandalously-low valuations in my opinion, given the communications play’s rising success with huge clients across the globe. Big player Communisis inked new deals with the likes of HMRC and Sony last year alone, and already counts the likes of Lloyds, Amazon and BP amongst its customer base. The company now sources just over a quarter of all revenues outside the UK, versus 18% just a year ago, and is poised to establish a base in the US this summer to boost trade in the world’s number one economy. And I believe Communisis’s super growth outlook should keep dividends shooting northwards well into the future, helped by its ability to chuck out heaps of cash — free cash flow rose 7% last year to £12.9m. In the meantime, projected payments of 2.6p per share for 2017 and 2.7p for next year should sate the needs of yield-hungry investors. These figures yield 4.8% and 5%, respectively."

Equity Development has a 20-page report on WJG just out. They propose "a 30-50% PER premium to the sector". This would give a 188p-217p share price. In summary: https://www.equitydevelopment.co.uk/edreader/?d=%3D%3DQO3IjM Watkin Jones is one of the UK’s leading property development companies involved in two of the hottest areas of residential real estate, namely the purpose-built student accommodation (PBSA) and private rented sector (PRS) segments. Watkin Jones is very well positioned to grow market share and profits despite operating a very low risk and working capital light business model. The long term fundamentals for PBSA are very positive with growing student numbers, strong demand for quality accommodation and institutional investors hungry for exposure. In PBSA, Watkin Jones enjoys excellent visibility of revenues, profits and cashflow through a combination of a strong development pipeline and a forward sales model. It also has an exceptionally good delivery track record and of gaining planning consents. The company's Fresh Student Living business offers vertical integration for the company within the student accommodation market and offers an end-to-end solution for institutional investors. The PRS business is very well positioned to take advantage of continued rising demand for developments within the private rented sector. The company aims to operate along the same lines as its PBSA business, by developing a strong pipeline and forward selling to institutions. The growth opportunity could be significant in the medium term. Watkin Jones trades on 11x PER for September 2017 with a 4.3% dividend yield. For the following year Watkin Jones’ PER falls to 10x and a yield of 4.5% This appears very undemanding given the group’s consistent long term record of growth, its strong cash generation, and its excellent medium term prospects as a leading developer within the growing UK student accommodation market. Watkin Jones currently trades at a 14% premium to the Housebuilding sector on PER but we would argue that this is too small a premium at this stage of the cycle. We conclude that Watkin Jones offers considerably better medium term visibility and growth than the average Housebuilder and should therefore trade at a 30-50% PER premium to the sector."

Here's the first new holdings RNS - River & Mercantile (who have been doing really well) have increased by around 1.7m shares to over 5%, with 10.16m shares: Http://www.investegate.co.uk/xlmedia-plc--xlm-/rns/holdings-in-company/201703291130028932A/

New highs now. N+1 Singer have left their 98p price target and forecasts unchanged at present, but expect them to rise as follows - note also the expected £30m cash pile: "Impact on earnings & valuation We expect to increase our revenue forecast for FY16 to just over £265m vs. our previous estimate of £260m, with an operating margin of 7.5% vs. our previous estimate of 7.0%. We expect this to drive a c.9% upgrade to our FY16 PBT forecast to around £19.5m vs. £17.9m previously. We expect net cash to rise to c.£30m in FY16 from £27.3m."

Finncap have today raised their price target to 48p, and their forecast for this year starting on Saturday to 4.3p EPS. Finncap themselves say their forecasts are conservative. 48p represents 20% upside from here, which is fine by me for the moment. It's good to have some slow and steady stocks in the portfolio - though the volatility is such that if HMLH ever gets any press/tip attention then it usually moves up 2p-3p at a time. At the current 40p HMLH looks like pretty good value to me. It's also possible that with 2.1p EPS in the bag from H1, this year's forecasts of 3.8p EPS may also be beaten.

Good to see this under-the-radar stock finally getting a little bit of well-deserved attention in the Times Tempus investing column today. With so few shares available, any sort of press mention is always likely to cause a decent rise: http://www.thetimes.co.uk/edition/business/plumber-turns-the-heat-up-in-america-2080hx668 "Premier Technical Services Group is a one-off with no comparable businesses and another of those companies that has come to market with little fanfare. It provides, among other things, safety equipment and ropes that allow people to work on the sides of high buildings. The shares were floated on the Alternative Investment Market 2 years ago at 52p and have since doubled. Part of the reason for floating was to make acquisitions in what is still a fragmented market, with 2 in 2016 and 6 the year before."

Http://petroglobalnews24.com/2017-03-28-safecharge-international-group-ltd-sch-given-buy-rating-at-canaccord-genuity/

WH Ireland in their new note have retained their Buy advice, with a 340p target price. They note that 2016 EPS was slightly ahead of expectations at 30.1c. Their forecast for this year is 32.9c, with 36.1c next year. At $1.24 that's 26.5p EPS this year rising to 29.1p EPS, i.e P/E's of 7.9 dropping to 7.2. They conclude: "Whilst there were a number of challenges in 2016, Aircraft under management increased by 12% in the year to 165 and good operational progress has been made in strengthening the Group’s position. We believe that Gama is fundamentally a strong business with excellent growth prospects over the next few years across a number of territories, including in the US following the tie up with BBA. Following the results, we nudge our revenue expectations marginally higher, whilst our EBITDA, PBT and EPS forecasts remain unchanged. We believe the shares remain undervalued and reiterate both our Buy recommendation and 340p share price target."

RNS this morning re successful compliance for the Indian facility, and most importantly CE marking of the Visitect Malaria Test. In particular, ODX anticipate some sales already for this coming year and then "siginificant demand" after that.... Http://www.investegate.co.uk/omega-diagnostics-gp--odx-/rns/visitect--malaria-ce-mark---indian-fda-inspection/201703290700238169A/

It's a biggie as predicted, with £2.3m paid for £0.4m PBT and immediately earnings-enhancing. London-based too - looks a good one to me: Http://www.investegate.co.uk/hml-holdings-plc--hmlh-/rns/acquisition/201703290700248186A/ I imagine forecasts will have to be increased now.

Wow :o)) - a huge new £4.3m contract win - a big name new client - sales of the Door Opening systems as well as CCTV - adding to comfort in forecasts through to 2019 This is a company on a roll!

Given the placing of over £70m of shares with institutions today, plus the earlier placing, it's a bit of a truism, but nevertheless it was good to see Berenberg note the "significant investor demand" in today's RNS. The post-results presentations and outlook in the City must have been extremely impressive. Bizarre that institutional investors are prepared to stump up £70m+ for XLM shares, yet here we are with PIs now able to buy at slightly less than the 110p placing price. An opportunity imho.

Http://www.fool.co.uk/investing/2017/03/28/should-you-buy-these-2-top-takeover-targets-while-theres-still-time/ "Since Donald Trump’s surprise election win, shares in small-cap laser-guided equipment manufacturer Somero Enterprises (LSE: SOM) have been on something of a roll. Priced at 173p on November 9 — the day after the vote — they’ve since climbed to 300p (+73%) following encouraging comments regarding infrastructure spending from the new president. Given that the vast majority of sales comes from the US, this kind of reaction is hardly surprising. But it’s not just political influence that should make Somero’s stock more attractive to deep-pocketed competitors. Its most recent set of annual results confirmed that 2016 had been an “exceptional year” for the company. Thanks to six of its 11 geographic markets growing in 2016 (led by North America, Europe, Australia and China), Somero is heading towards achieving its five-year goal of becoming a $90m revenue business in just three years. In the 12 months to the end of December, revenue climbed 13% to a record-breaking $79.4m, with adjusted EBITDA rising 23% to $24.6m. Profits before tax came in 22% higher at $21.3m, with cash flow from operating activities rising 17% to $16.9m. For those who like robust balance sheets, Somero won’t disappoint here either. It had $20.2m in net cash at the end of the year — a 60% increase compared to 2015. The massive 61% hike to the total dividend over the last year is just another indication of how financially sound this business is. With its new product pipeline continuing to generate revenue growth and shares still trading on a fairly undemanding valuation of 13 times forecast earnings, I’m left wondering how long it will be before the bids come flying in."

as follows (cheers mate) - the company valuations are "clearly way below their open market values if sold": "Volvere's bumper results Another constituent of my 2016 Bargain shares portfolio, Aim-traded investment company Volvere(VLE:585p), has issued a bullish updated ahead of the release of full-year results at the end of May. The company expects to lift pre-tax profits by a third to £1.8m driven by a 20 per cent rise in revenues to £33.2m and is pencilling in an 8 per cent increase in its net asset value per share to a record high of 614p. I would flag up that Volvere has cash and marketable securities worth £20.1m on its balance sheet, up from £16.3m a year earlier, a sum that accounts for 80 per cent of equity shareholder funds after adjusting for non-controlling interests. In other words, it has almost 500p a share of cash on the balance sheet. Moreover, the latest reported net asset value figure looks very conservative as it implies a valuation of only £6.5m for the company's three main investee companies. These include an 80 per cent holding in Impetus Automotive, a provider of consulting services to the automotive sector. Impetus posted a £900,000 rise in pre-tax profits to £1.5m on revenues up 43 per cent to £17.4m last year, an impressive return on the £1.3m the company paid for its stake in 2015. Volvere's wholly owned digital CCTV viewing business, Sira Defence and Security, is making good progress too, posting a 33 per cent increase in pre-tax profits to £160,000 on 23 per cent higher revenues of £380,000. True, profits slipped at frozen pie and pasty maker Shire Foods, a company in which Volvere owns an 80 per cent shareholding. Higher raw material costs following sterling's devaluation, and the decision of a customer to bring manufacturing in-house impacted the performance, but the business still turned in almost £1m of pre-tax profits on flat revenues of £15.4m. Combined these three businesses are being valued by Volvere on just 4.5 times their aggregate net profits, a valuation that is clearly way below their open market values if sold. So, with the investment risk skewed to the upside, and the company cashed up to make further value-enhancing acquisitions, I feel the shares - up a third on an offer-to-bid basis since I initiated coverage 13 months ago - are well supported. Run profits."

Bonkers markdown imo, with presumably a seller or two taking advantage of post-results liquidity. Good to see the price bouncing now. The order book has increased to a huge £350m now - that's up £20m since 31st December alone. There's terrific visibility through to 2019. I can see a good re-rating upwards from here given the secure revenues going forward and the likelihood of continued good results. There will be an AGM trading statement soon, and that's likely to continue the positive vibes.

From today's news I see that First Group have won the South West trains contract from Stagecoach. There's to be new investment in "750 carriages and 18 trains as well as £90million of investments at stations". It so happens that FirstGroup are already an existing customer of Petards per their web site, whereas Stagecoach are not: Http://www.thisismoney.co.uk/money/markets/article-4354260/MARKET-REPORT-Shetlands-discovery-lifts-oil-explorer.html

Excellent new article from Opus Capital about Safecharge - "severely undervalued": Https://www.opus.capital/documents/insights/SafeCharge-International-Group.pdf Conclusion: "Payment Processing Industry Garnering Attention Though many smaller players operate in various parts of the payment ecosystem, the company that is probably the closest proxy for SafeCharge is Adyen, which is privately held. Adyen is owned by a who’s who of PE and VC firms, including General Atlantic, whose portfolio includes Snapchat, Airbnb, and Uber, not to mention the secretive Iconiq Capital, which counts among its clients tech legends such as Mark Zuckerberg and Jack Dorsey. While Adyen is more of a known quantity, given its Silicon Valley ties, SafeCharge’s initiative to move into additional verticals has the potential to boost its profile, as well as its valuation, into Adyen’s stratosphere. Adyen’s $2.3 billion valuation in 2015 occurred in a year when its CEO was targeting profits of $45 million. By way of comparison, SafeCharge earned approximately $23 million in 2015. Whether applying this sort of private market multiple or looking at publicly traded peers, SafeCharge appears severely undervalued, and its growth initiatives could help push it beyond a $1 billion market cap, more than double its current capitalization."

7.63p adjusted EPS was way ahead of 6.82p expectations! The forecast for THIS year (2017) was 7.68p EPS, so this may now have to be increased. Good outlook too: "2017 has started well with continuing sales growth and new record levels of orders in hand and we remain both confident of our prospects and enthusiastic about the future." EPS was helped by a lower tax charge, and there are also big adjusting items being the first year post-IPO. Overall these are very good results - and I'd assume there will be further acquisitions at some point.

Bought some more this morning - excellent results. CTO are cheap purely on fundamentals given 11.7p historic EPS - then add in the £9.2m cash against a £35m m/cap and it's looking pretty good. There should be some nice tips in the press for CTO too after this.