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More like a superstar stock imho - have you seen the chart over the last couple of years?!! The lack of a big PI following is a big bonus, cutting down on volatility and leaving long-term investors in for a nice easy ride. The current price seems like a bargain imho. "Comfortably ahead" means SOM must be looking at a minimum of 11p EPS this year and possibly a lot more, say 13p EPS. Plus they should have say a $10m cash pile at the year end. This will of course feed a nice dividend increase, and product development, but I wonder if SOM might undertake an acquisitions or two?

Been watching for ages and never thought I'd get the chance to buy in at not too far off the price it was before the successful CD4 completion news. With £2.4m net cash ODX is fully funded, and the historic 1.2p EPS is forecast to rise to 1.4p EPS this year and 3.2p EPS next year. The CD4 launch caution in the results narrative has understandably brought the price right back, but it's easy to see that in a year to 18 month's time the share price could be anywhere from 30p to say 50p-60p imho.

Excellent results overall last week, with EBITDA at £2.9m ahead of forecast £2.8m. Adjusted EPS at 1.36p is 46% ahead and is basically on forecast of 1.4p, whilst the 0.46p dividend is nicely ahead by 15% though slightly behind the 0.5p forecast. I particularly like the very high recurring income at 61% and the very good cash generation. The £3.6m cash pile and the comments in the narrative imply more acquisitions to come. The headline figures were a bit messy given all the one-offs, but the outlook is bullish and the business is obviously growing very nicely in a sector with all sorts of possibilities. Can't believe certain comments below about the results - they obviously just took the headline numbers and didn't even bother to look at the EBITDA or the core continuing numbers. The narrative also revealed a new acquisition which will help this year's numbers. Finncap raised their price target to 33p after the results and had this to say: "Accumuli* - Prelims (28.8p) ACM – CORP – TP: 33.0p. – Market Cap: £45.5m Prelims to March 2014 are in line with expectations and the April trading update: 61% of gross profit derived from recurring revenue; EBITDA of £2.9m; and net cash of £3.6m (vs £3.5mE). A strategic move towards higher-margin services and maintenance, combined with the acquisitions of Signify and Eqalis, lifted the gross margin from 53% to 60%, delivering 32% gross profit growth compared with 18% revenue growth. With the means to deliver organic and acquired growth alongside a healthy yield, in a high-profile tech subsector, we lift Accumuli's 12-month target price to 33p (27p)." The respected Techmarketview said this: Http://www.techmarketview.com/ukhotviews/archive/2014/06/23/another-positive-year-for-accumuli "Monday 23 June 2014 Another positive year for Accumuli Acquisitive risk and security managed services provider Accumuli ended FY14 (to March 31) in line with expectations and its end of year trading update with revenue up 18% to £16.6m, due to a combination of organic and acquisition-based growth - although it's not clear how much was organic. Its other key metrics are also moving positively, with net profit up 17% and trading EBITDA rising from £2.8m to £3.6m. It addition to acquisitions (and one disposal), it has pursued a strategy of increasing recurring revenue by focussing on higher margin services over product sales, and cross selling. There is movement on the change in the make-up of the business with the proportion of revenue from technology solutions dropping yoy from 23% to 18%, while support and managed services now stands at 60% vs. 57% last year (see here for FY13 results). As a result, gross profit margin has increased from 53% to 60%. However, even though cross sales have grown from 2% to 5%, 600 of its c700-strong customer base still only take one service from Accumuli. Even though acqu

Peppa is expanding big time in the USA.... Http://www.licensing.biz/news/read/vegas-2014-eone-expands-us-reach-for-peppa-pig-with-new-licensing-deals/040300 "VEGAS 2014: eOne expands US reach for Peppa Pig with new licensing deals Robert Hutchins June 20th 2014 at 10:14AM VEGAS 2014: eOne expands US reach for Peppa Pig with new licensing deals Five new partners signed for Peppa Pig themed soft goods including plush toys, bedding and more. Entertainment One Licensing is plowing ahead with its US expansion, having secured five new licensing partners for Peppa Pig, each in the soft goods category. The latest announcement follows the preschool brand’s new deal with Jazwares as the master toy partner for Peppa Pig in the US. An assortment of Beanie Babies will arrive courtesy of Ty and will feature Peppa, George and numerous other characters from the TV series in soft plush form. Meanwhile, Happy Threads will launch a range of Peppa Pig themed apparel for girls aged 12 months to seven years, while Komar Kids has signed to produce the brand’s first collection of sleepwear in the US. Furthermore, kids will now be offered a new collection of themed backpacks, bags, lunch kits, luggage, headwear, hosiery and cold weather accessories from Accessory Innovations. Character World completes the collection of soft goods with the launch of Peppa Pig themed bedding and home accessories, including blankets, throws, bath and beach towels, cushions and inflatable and bean filled chairs. “As Peppa’s fan base continues to grow in the US, we’ve seen an increase in demand for a wide range of Peppa Pig licensed products," said Joan Grasso, vice president, licensing North America, eOne. “We are thrilled to announce several new licensing deals in the soft goods category that allow consumers to interact with Peppa and friends in new and meaningful ways. “We look forward to offering fans even more opportunities to engage with Peppa and are excited to work with bot our current and new licensing partners in 2014 and beyond.”"

RNS out - good to see more director buying: Http://www.investegate.co.uk/hangar-8-plc--hgr8-/rns/director-declaration/201407030800003201L/ "Hangar8, one of Europe's largest operators of privately owned passenger jet aircraft, announces it was informed on 2 July 2014 that, on that date, Dustin Dryden, Chief Executive Officer, purchased 2,000 ordinary shares in the Company at an average price of 280p per share. In addition, George Rolls, Non-Executive Director, informed the Company on 2 July 2014 that, on that date, he purchased 2,706 ordinary shares in the Company at an average price of 267.4p per share. Following these purchases, Mr Dryden has an interest in 2,848,933 ordinary shares representing approximately 29.90 per cent of the issued ordinary share capital of the Company and Mr Rolls has an interest in 102,271 ordinary shares representing approximately 1.07 per cent of the issued ordinary share capital of the Company."

The buybacks continue, with another one at 107p just announced. Good to see the company showing such confidence.... http://www.investegate.co.uk/creston-plc--cre-/rns/transaction-in-own-shares/201407030700092938L/

In fact, "comfortably" ahead.... http://www.investegate.co.uk/somero-enterprises--som-/rns/trading-statement/201407030700082890L/ "Somero is pleased to provide an update on trading ahead of its interim results announcement due on Monday 8 September 2014. In its announcement on 19 May 2014 alongside the Company's annual general meeting, Somero highlighted that trading in March and April had been very strong and that results for the year to date had been considerably ahead of the position at the same time last year. Somero is pleased to report that trading in the months of May and June have been just as positive with strong customer interest for our products converting successfully into sales revenues. North America and all of Asia led by China and including Southeast Asia, India and Korea, remain the strongest markets for us, but other regions are also contributing very satisfactorily to our growth. This positive trading environment means that the Company's overall results continue to track ahead of plan and we therefore now expect to deliver results comfortably ahead of current market expectations for the full year to 31 December 2014."

Here's confirmation that XAR are involved in 3-D printing which definitely hasn't been posted here before - note that the partners include Unilever and BAE Systems..... Http://www.engineering.com/3DPrinting/3DPrintingArticles/ArticleID/7374/Could-FACTUMs-High-Speed-Sintering-Process-Replace-Injection-Molding.aspx "Could FACTUM’s High-Speed Sintering Process Replace Injection Molding? Kyle Maxey posted on March 25, 2014 | 1 Comment | 4932 views A new 3D printing technique capable of making finger-sized parts in less than one second could signal a profound shift in additive manufacturing’s potential. Named FACTUM (latin: “to make”), the new machine uses a high-speed sintering (HSS) production method that was developed through the combined effort of academia and industry. Researchers at the Universities of Sheffield and Loughborough created the FACTUM printer, while British printing company Xaar developed its inkjet technology. While details on how FACTUM works are scarce, we do know the machine sinters its powder material through the use of a heat lamp, rather than a laser. Once its plastic powder has been laid down the lamp passes over the material, sintering it with minimal damage and producing a higher quality product. In addition to its higher quality end products, FACTUM engineers say the new printing method gives the system a wider range of material options than traditional laser sintering machines. Beyond its origin as an academic project, FACTUM has picked up some big name support from the likes of industrial giants Unilever and BAE Systems. For Unilever’s part, the company is investing in HSS technology as a way to manufacture new packaging designs that can’t be produced by traditional injection molding. On the other hand, BAE sees the new AM technique as a way to produce better “low-volume, high-added value products.” The aerospace giant also believes the technology gives engineers greater design freedom, which could lead to products with better performance. With major investments from two large corporations in hand, HSS looks to be a promising development for additive manufacturing. “The fact that it has attracted the interest of the likes of Unilever and BAE Systems underscores this potential,” said David Chapman of Xaar. “[FACTUM could] radically change the way we think about manufacturing, introducing new designs and business models that we cannot even imagine today.”"

Not so - the half year has now just passed, so we may well get a trading statement soon. Bearing in mind that (1) the CEO has just confirmed that trading is going very well, and (2) XLM's main Scandinavian partners all had stonking Q1 results, I'm willing to bet that the statement will be good. And remember that XLM has a $60m+ cash pile. An acquisition could come at any time - the CEO wants to do a deal by the end of the year, but he's obviously - and wisely - hedging his bets.

We heard previously about expansion at JMP's Liverpool office - here's news of more growth at the Newcastle office: Http://www.jmp.co.uk/forward-thinking/update/jmp-plans-growth-milburn-house-newcastle "JMP plans for growth at Milburn House in Newcastle Submitted by JMP News on Mon, 30/06/2014 - 05:14 JMP has relocated its Newcastle office to Milburn House, the London and Scottish-owned building on Dean Street. JMP has ten offices nationwide, covering Leeds, Manchester, London, Birmingham, Bristol, Liverpool, Glasgow, Edinburgh, Aberdeen and Newcastle. It has relocated its Newcastle premises from Rotterdam House. Alan James, Executive Director at JMP Consultants said: “Each of our offices across the country is strategically positioned to enable us to support our specialist corporate service offer with local knowledge and contacts. “As our Newcastle presence continues to expand, it is essential we have premises that allow us to realise our longer-term growth ambitions. The size, quality and connectivity of the space on offer at Milburn House made it a clear choice for our growing business.” Steven Griffith at London and Scottish said: “We recognised the huge potential the building had to offer to businesses such as JMP as the economy grew and demand for good quality city centre space increased. As such London and Scottish (Asset Managers for the owners), have invested considerable sums in a phased programme of improvements to the facilities on offer in the building with further significant works underway to the common areas and vacant offices.” Tony Wordsworth, Director at GVA agents for the owners commented JMP are market leaders in their field and they are sure to make a positive and highly credible addition to our tenant base within Milburn House."

The market to date has missed the point that most of HGR8's revenues now are from long-term revenue streams and not so subject to short-term fluctuation. Once the market grasps this point, there could be quite a large re-rating. If forecasts for the current year to 30/6/15 are increased from 26.3p to say 29p-30p EPS, a P/E of say 15 would see HGR8 at 450p. And there's also the growing cash pile which could be used for more acquisitions. Canaccord and Westhouse reiterated identical 310p price targets yesterday. I suspect that when the results come out both will be upgrading/increasing. Plus the maiden dividend will attract more institutional interest.

Fantastic RNS - ahead of expectations :o)) 300p and much more coming soon imho...... Http://www.investegate.co.uk/hangar-8-plc--hgr8-/rns/trading-statement/201407010700119442K/ "The Company has enjoyed an excellent year, with significant organic growth, that has delivered a strong increase in EBITDA ahead of management's expectations" And the outlook couldn't be much better: ""As we now move into a new financial year, the improving economy is already feeding through into our marketplace with higher activity across our business streams. The outlook for our business is strong and we enter the year with confidence.""

There's a great article here about the BAC Mono, with excellent pictures and a small piece on SCE's brakes: Http://www.speedhunters.com/2014/05/bac-briggs-automotive-company/#chapter-five-steps-to-heaven "The standard braking package is from AP Racing, though the word ‘standard’ hardly adequately sums up a car that many race drivers have rated as the best they’ve ever experienced in a road car. A new introduction has been the development of a carbon-ceramic brake package by Surface Transforms – not through any issue with the APs, but just to offer drivers the opportunity to shave off more all-important unsprung weight. Which is like saying Kate Moss needs to lose weight. The company are located just across the river Mersey as well, ticking that local supplier box." Nice conclusion too: "Here we have a car which has been hatched from a passion for driving, aimed at creating the ultimate experience behind the wheel – and that’s rightly what BAC are mostly known for. But the Mono is a story as much about people and sense of place as it is a collection of metal and carbon. Ian and Neill want their success to be the inspiration for others to do the same. Now BAC are exporting to 10 countries across four continents, and want to double production every 12 months over the next five years. As they say, it’s not bad for two lads from Widnes."

The June/July issue of iGaming's bi-monthly magazine is out now, and it contains a very good (and long) interview with XLM's CEO. I particularly like the comment about 2014 going "very well"..... Http://www.igbaffiliate.com/magazine Highlights: - 2013 was a "record-breaking year in all aspects", and "2014 is on track and going very well" - the IPO was "quite oversubscribed". The institutional shareholders aren't selling, only the retail element which came in post-IPO. You can tell he's a bit irritated about SCSW's error which confused everyone re the 2013 results.... - "one big acquisition by the end of the year", with "small bolt-on acquisitions" from the "big cash pile" - casino licence from New Jersey "in a few months", with Nevada to follow - potential acquisitions/expansion of/into social gaming, sports betting, mobile and social advertising, other technology companies - "showing strong growth in German=speaking and English-speaking countries", plus Denmark as it's well regulated - skill set can be applied to: social gaming financial spread betting, CFDs etc forex

Moving up nicely today prior to a likely year end trading statement in the next two to three weeks (last year's was 16th July).

Nice move this morning.....

I came across this from last week from a recent classic cars meet and industry get-together where SCE presented... Http://www.nwautoalliance.com/news/naa-event-review-business-excellence-meeting-cholmondeley-pageant-of-power-friday-13-june-2014/ "Apart from the extensive networking that also took place, there were presentations from Juno Racing, FDM Digital Solutions, BAC and Surface Transforms.... .....Surface Transforms specialises in carbon ceramic brake technology. The company is the UK’s only manufacturer of carbon-ceramic materials, and is one of just a few ceramic brake disc manufacturers in the world. Compared to steel brakes, carbon ceramic brakes are lightweight (with a weight saving of 50-70%); they improve handling (due to reduced unsprung weight); they have improved and consistent performance; and have a high tech appeal. Surface Transforms has carried out a Niche Vehicle Network project with BAC, applying ceramic brake technology to a lightweight niche vehicle for the first time. The company has a target to become an OEM supplier in two years." Note that BAC also said this - note that the BAC Mono had the fastest average lap time: "Briggs Automotive Company (BAC) gave a presentation about the history of its single-seater, road legal Mono. This covered areas ranging from product benchmarking and how the design evolved, to the sensational feedback from the media and how the Mono set the second fastest lap time on Top Gear, only being beaten by the Pagani Huayra (by just 0.5 of a second), which costs almost ten times more than a Mono. BAC is now producing the Mono in a new factory in Liverpool in order to satisfy the global demand for the car." More from that meeting (70,000 people there) - amazing to see the little Mono, with SCE's technology, beat this amazing line-up of cars: Hhxxp://www.greencarguide.co.uk/features/cholmondeley-pageant-power-2014-whats-best-car-set-fastest-time/ "This year the cars in the Supercars & Track Day class included the Caterham Seven 620R, McLaren 650 S, Porsche 911 Turbo S, Ford GT40, Mercedes SLS AMG, Bentley Continental GT Speed, Ferrari 458 Italia, Lotus Exige S, Nissan GTR and Lamborghini Diablo. So which car had the fastest time when all of its five runs over the weekend were averaged out? Based on this criteria, the winner was the single-seater, road legal (Ford-powered) BAC Mono, driven by Duncan Tappy, with an average lap time of 64.18 seconds. The next fastest car was the more powerful Ariel Atom 3.5R, with an average lap time of 66.21 seconds. In terms of the individual fastest lap, the BAC Mono was a virtually imperceptible 0.08 of a second behind the Atom – 61.03 seconds compared to 60.95 seconds. This shows that big, powerful cars aren’t the answer – it’s the lightest, agile and most efficient cars that are most effective on the Pageant circuit. And despite the impression that Top Gear might give, l

Questor in the Telegraph say Buy: Http://www.telegraph.co.uk/finance/markets/questor/10929023/Questor-share-tip-James-Fisher-boosted-by-acquisitions.html "Questor share tip: James Fisher boosted by acquisitions Marine services business a buy as it continues to buy small, niche businesses By Rebecca Clancy 6:00AM BST 27 Jun 2014 Questor says BUY Marine services business James Fisher and Sons snapped up a monitoring, instrumentation and testing services company last week, as it continues to buy small, niche businesses. The Barrow-in-Furness-based business acquired Testsconsult for £8m. The group said the deal would allow it to extend services provided by its Strainstall Monitoring business. Strainstall uses strain gauges and sensors to provide structural monitoring and dynamic load testing of structures such as bridges and offshore installations. The acquisition is part of the Fisher’s strategy to continually look at and buy niche businesses which operate in demanding environments. In March the company bought Defence Consulting Europe, which provides a range of specialist swimmer delivery vehicles, for £3.7m. Prior to that in January Fisher bought Dorset-based Subsea Vision, which owns and operates remotely operated vehicles which provide underwater surveys, inspections and construction to support to the oil and gas industry, for £2.5m. In between those two acquisitions, the company announced its full-year results, which showed underlying pre-tax profit was up 18pc to £41.4m, on revenues of £413.7m, up 14pc from the previous year. In the group’s first-quarter trading update last month it said the current financial year had started will, with trading in line with expectations. Offshore oil revenues are strongly ahead of last year in the first three months for Fisher, driven by good demand, both globally and in the North Sea, and there has been a similarly good start in its Specialist Technical division, helped by a strong order pipeline. While the Marine Support business has had a slow first three months of the year, many of the projects are expected to take effect in the second half of the year. John Lawson, analyst at Investec, said the current events in Eastern Europe, particularly the tensions in Ukraine, “should increase the need for the group’s services”. He upgraded the company from an “add” to a “buy” and has a target price of £14.50. The company has seen a bit of profit taking since March but the shares are still up 11.7pc for the year. Following the announcement of the most recent acquisition the company jumped almost 6pc. With a strong balance sheet, more acquisitions are likely in the future and Questor maintains its “buy” rating. "

Here it is: Http://www.cambridge-news.co.uk/Business/Private-Punter/ A very good article on the whole. The only points I would make are: - perhaps not enough emphasis on JMP, which is the undoubted star of the portfolio and only gets the same coverage as Sira Defence and Shire Foods - the point perhaps isn't clearly made that JMP, Shire and Sira's value is effectively in ADDITION to the stated 400p per share NAV Mustn't quibble though - it's great to see some coverage of VLE for a change.

EK has just updated as follows: Http://theevildiaries.com/ "I again read the Orosur (OMI) report very recently prepared by Edison, preparing to nod off through paid advocacy offered as fundamental truth. Much to my surprise, it grossly understated the case for buying Orosur, now 15.5p offer. I am of course sitting on Orosur up to my ears but I am beginning to sense that I might well make back a lot of money." And he also said recently: Http://theevildiaries.com/ "Orosur (OMI): there is no cash dividend for shareholders and Orosur's RNS has got PR speak stuck in it. Take "systematically identifying new gold resources": glad to hear it but it would be more remarkable if the company were "unsystematically identifying....". However, carping aside, it is a really strikingly encouraging statement. For instance, just look at the increase in reserves ahead of annual production that has been achieved over the last year. There is of course always the fear/recognition that a gold-mining company will run out of gold. This deterioration for Orosur has been clearly set back for well over a year. Orosur is capitalised at around £11m. But it must be making getting on for that sum in pre-tax profit, which in turn is represented by hard cash. To be sure, there is a central overhead of $10m for overheads and there are cash drains in the unproven projects and, now, Colombia. But shareholders can reasonably look forward to a thick dividend - I will not be the only fellow calling for cash."