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This is really interesting - a transcript of GAN's recent results presentation. It's pretty long and detailed, but the most interesting part is the conclusion shown below: Http://www.publicnow.com/view/C7462621676BDF88FD1FD1F72E613C3117B57C31?2016-05-12-16:32:19+01:00-xxx7014 "By way of closing comment on our outlook going forwards, as a Company we will continue to build our base of recurring revenues with a focus on the quality, higher margin revenue delivered in 2015 and with two challenging years now behind us we are confident of the Company's ability to generate significant revenue growth in the current year and a material level of earnings commencing in 2017, even in the absence of securing a System Sale"

RNS out noting succinctly that trading is in line with market expectations. Since expectations are for historic 2.97p EPS and current year 4.02p EPS that leaves CNIC looking pretty decent value at the current share price.

CAR have acted decisively in exiting CDS, and so we know the future is now clearly tied up with the exciting core businesses. Since CDS was in the share price for free, there shouldn't (in theory anyway!) be much if any of a markdown. They can kitchen sink all the sunk costs in the historic results and leave a clean company going forward. It's obviously a shame, but CAR had not raised any huge expectation for the outcome of CDS for some time now. The two core businesses have been trading extremely impressively for some years now. Underlying EPS shows a terrific progression - 125% growth in 4 years: to Mar'18 - 13.7p (forecast) to Mar'17 - 11.5p (forecast) to Mar'16 - 9.5p (forecast) to Mar'15 - 7.9p to Mar'14 - 6.1p At 156p (or less this morning) the current year P/E of 13.6 is pretty good value imho for a business showing such growth.

Great to see Mark Slater taking a 3%+ stake here. Hopefully back to 85p-90p soon for starters.

There was good comment on WJG recently here: Http://www.whatinvestment.co.uk/financial-news/funds/2519406/the-ipo-i-have-bought-shares-in-this-month-by-manager-of-400-million.thtml "The IPO I have bought shares in this month, by manager of £400 million David Thorpe 4 May 2016 Henry Dixon, manager of the GLG UK Undervalued Assets fund, has revealed the UK IPO in which he has taken part during the past month. He disclosed that he has invested in Watkin Jones, a provider of student accommodation. Dixon said, ‘The company constructs and manages student property on behalf of large investment partners. With demand for this asset class continuing to grow strongly, Watkins Jones as the clear market leader, very conservative earnings estimates, an 8x PE starting valuation, a balance sheet net cash, and the business very cash generative, we are excited about the risk reward potential of the shares. Furthermore, with Mr Watkin Jones himself, still at the helm and with significant personal interest in the business, we are confident that management are aligned with investors and will continue to drive the business forward.’

Confirmation of latest forecasts from N+1 Singer: this year : 6.5p EPS, 1.8p divi next year : 7.6p EPS, 2.3P divi

A series of buys this morning, including £52,000 just bought at 155p - nicely above the published 154p offer price.

"Solid quality Somero’s QualityRank today is 96, a fall of just two points since December. Very little seems to have changed. The operating margin rose from 21.2% to 25.0% in 2015. Return on capital edged up from 42.5% to 44.7%. Other metrics have also improved. As Somero’s 2009 results have dropped out of the QualityRank calculation period, Somero’s five-year average net margin has risen from 3.7% to 9.1%. The long-term average return on capital has risen from 0.4% to 17%. These numbers show the severity of Somero’s previous debt problems, and the strength of its recovery since then. As management are keen to explain, a repeat of this calamity should be unlikely. The company’s policy is now to maintain a net cash buffer of $10m at all times, so that when the next recession does come, Somero will be able to ride out the storm in safety. If you’re wondering why Somero’s QualityRank has fallen at all, I suspect the reason is that the stock’s Piotroski F-Score has fallen from 8 to 7. The reason for this is that last year’s lower post-tax profits resulted in a lower return on assets last year. This is simply the result of the money being spent on new buildings and is absolutely not a concern, in my view. Big momentum gains Perhaps the biggest difference between now and December is that Somero’s momentum has improved significantly. The stock’s MomentumRank has risen from 70 to 87. Broker forecasts for 2016 earnings have risen and the outlook for 2017 suggests further progress is expected. Somero’s cash-backed dividend is also expected to rise and the forecast yield is 3.3% for 2016, rising to 3.6% for 2017. That’s quite high for a small cap. Somero’s 2015 results made it clear that the firm should be able to deliver material ongoing growth from the US market. Growth elsewhere will be a bonus. In the case of China, it’s a long-term goal where the potential rewards are vast. I’m happy to add the stock to the portfolio at this time, and look forward to the next trading update in the summer".

Excellent new article tipping SOM: Http://www.stockopedia.com/content/stock-in-focus-portfolio-double-dipping-with-glaxosmithkline-and-somero-enterprises-131015/ "Smooth operator could beat expectations Somero Enterprises is the dominant player in the market for using laser-guided screeding machines to produce perfectly flat concrete floors for industrial buildings. The firm last featured in this column in December, when I raised concerns about the cyclical risks of investing at what might be a relatively late stage in the cycle. Ironically, I’m less concerned about this now than I was then. There are several reasons for this. Firstly, I’m trying to break out of the classic value investing trap of buying too soon on the way down, and selling too soon on the way up. A second reason for my confidence in Somero is that the firm produced a stonking set of 2015 results along with very confident guidance for the year ahead: “We see 2016 as an exciting year full of opportunity. We believe we are well positioned to capitalize on expected growth in our core US and other existing markets, extend our global footprint and grow revenues from new products. Most importantly, we look forward to delivering another year of superior results for our shareholders.” I also gained confidence after reading the transcript of Small Cap Editor Paul Scott’s interview with Somero’s CEO and CFO, which took place in January. This really provides a lot more detail and colour on the firm’s competitive advantage and on how management sees the market opportunity in the US and overseas. It’s well worth a few minutes of your time (as of course is all of Paul’s small cap coverage). A fine set of figures Stockopedia continue to rank Somero highly, with a StockRank of 98. Last year’s figures have now been assimilated into the firm’s StockReport. Rather than analyse them from scratch, I’ve decided to compare them to the StockReport I used back in December. What’s changed? Back in December, Somero traded on a rolling forecast P/E of 8.9. Although the shares have risen by 22% since then, rising earnings guidance means that today’s forecast P/E is almost unchanged at 9.3. Forecast yield is also unchanged, at 3.4%. Somero’s earnings per share dipped in 2015, but it’s worth noting that operating profit rose strongly. The fall in net profit appears mainly to be the result of Somero spending around $4.2m on new building facilities. These are being funded out of free cash flow, which is currently very strong. Net cash doubled from $6m to $12.6m last year, despite this investment. Last year’s rise in capex is nothing to worry about. Somero’s ValueRank has fallen from 78 to 71 since I last looked at the firm, but I’m not concerned by this small change. The fundamentals remain solid and very appealing, in my view. "

Good interview here with Andy Hanson, the Director of Equity Research at Zeus Capital, about WJG. He notes: - 90% of this year's profit is already covered - WJG are on a 20%-30% discount to the average rating in its sector - and that's without taking into account the £36m net cash - plus the 6% divi yield is pretty tasty Http://www.***************************/watkin-jones-plc-thoughts-andy-hanson-zeus-capital/412701612

Hybridan's latest forecasts are: this year : 1.89p EPS (£0.9m PBT) next year : 2.08p EPS (£1.01m PBT) On a 14.1p share price that's a P/E of just 6.8....

Today's RNS notes: "XLMedia has maintained its excellent start to 2016 with strong demand for services reported across the Group's geographic footprint", and "current trading remains in line with management's expectations". Since the latest forecast is for 7.92p EPS, with a 3.85p dividend, at 69p the share price looks a bargain - especially with a $43m cash pile to spend on acquisitions. The strategic review has been completed, and XLM will continue on AIM, so hopefully the share price will now start to respond with a re-rating.

Noteworthy large trades - over 610,000 shares just bought at 155p in two large trades.

RNS just out - Chelverton Growth Trust have bought another 500,000 shares and now have 2m, or 5.7%: Http://www.investegate.co.uk/petards-group-plc/rns/holding-s--in-company/201605111415279611X/ With Andrew Perloff's pension fund also buying more recently and going above 6% there's certainly some decent interest around in this £5.7m m/cap tiddler.

...with buying coming in at 156p.

Nice start in Canada this afternoon. More detail on that upgrade: http ://www.proactiveinvestors.co.uk/companies/news/125746/cantor-lifts-target-on-orosur-mining "Cantor lifts target on Orosur Mining 12:02 10 May 2016 Broker Cantor has lifted its price target on South America-focused gold miner Orosur Mining Inc (LON:OMI, TSE:OMI), due in part to rising precious metal prices. The positive impact of cost cutting and a focus on operating profitability was plain to see in recent third quarter results, added analyst Asa Bridle. "The company’s efforts are also being helped by rising precious metal prices, and we revise our FY17 earnings forecast upwards on the back of higher gold and silver price expectations," he said. The broker's target goes to 26p from 22p and it repeats a 'buy'. The miner, which operates Uruguay's only producing gold mine, succeeded in getting all-in sustaining costs (AISC) of production below US$1,000 an ounce in the quarter, and the plan is to keep it below that for the remainder of the financial year, which runs to end May. It also bounced back into the black with a profit before tax of US$3.1mln in the three months to February 29, having made a loss of US$1.9mln in the corresponding period the year before."

Cantor Fitzgerald have today increased their price target to 26p (from 22p) and say Buy: Http://investing.thisismoney.co.uk/broker-views/

Results look fine to me too at first glance. In particular, the 7.4p adjusted EPS (note 4) is well ahead of 6.1p expectations. The 1.5p divi is perfectly in line. A strong Q1'16 performance is good to hear, though there's an H2 weighting. The confidence for this year is also reassuring, along with the pipeline of products due to launch this financial year being "currently on track". QP. is certainly pretty decent value prima facie given forecasts of 6.5p EPS, with a 1.8p divi - perhaps this update will be enough to initiate a return of confidence.

Very positive results and outlook today. EBITDA of €285k (before amortisation and exceptionals and after depreciation) is well ahead of the £130k forecast. Q1 of this year looks incredibly strong with €4.4m of revenues booked. Innovenn looks intriguing now that it's reached commercialisation, with lots of talk about "maximising shareholder value". Plenty of cash too, so the likelihood of more acquisitions is good. Pleasing stuff.

on 7th June, and judging by the trading update will have an extremely strong outlook which should continue to drive the share price. IMO CAR has the potential to double or treble from here in the next year or three.