The Quick Take Company: Transense Technologies (AIM: TRT) — Oxfordshire sensor-technology group with three income streams: SAWsense, Translogik and a Bridgestone royalty. Thesis: A high-margin, IP-rich micro-cap whose profits today come almost entirely from a royalty that expires in 2030. The whole case is whether SAWsense scales fast enough to replace it — cheap […]
Advanced Medical Solutions (AMS), the AIM-listed tissue-healing specialist, remains in a live offer period. On 18 June the board confirmed that talks with H.B. Fuller over a possible all-cash takeover are ongoing, and the “put up or shut up” deadline has been just extended to 2 July. An extension isn’t a firm offer — but […]
I’ve been a happy holder of GetBusy for a while, but this week I cut the position back by about 50%. Here’s my thinking(more of a risk management than anything else). The bull case hasn’t gone anywhere. SmartVault, the US tax document platform that is the real value in the group, is now plugged into […]
After last weeks earnings announcement(which on the surface was ok), I had a chance to watch the webinar and the subsequent Q&A. There were a few things which worried me a little bit so since then I have trimmed my position by 50%. Still a reasonable holding but towards the lower middle of the pack […]
Mitie’s FY26 results landed this morning, and while there’s plenty to admire, I’m keeping my enthusiasm in check. Yes, the top line looks healthy — revenue up 10.5% to £5.6bn, adjusted operating profit up 13% to £264m, and a record £16.3bn order book. But I always read past the “adjusted” figures, and here the gap […]
The Quick Take Company: Distribution Finance Capital Holdings (AIM: DFCH), trading as DF Capital — a specialist UK bank providing inventory (“floorplan”) finance to manufacturers, dealers and distributors across leisure, marine, powersports, industrial, agricultural and automotive sectors, funded by a digital retail savings franchise Thesis: A young, profitable, fast-growing niche bank with a genuinely clear […]
G&H’s H1 results land broadly as expected — no bad thing, given the top line was already flagged at April’s trading update. Revenue rose 15.5% to £81.9m and the order book hit a record £167.3m, with Aerospace & Defence doing the heavy lifting: revenue up 51.7% and segment profit leaping to £3.6m from just £0.6m. […]
Three days after my AMS initiation note, the company confirmed another takeover approach — qualitatively different from the previous five. H.B. Fuller (NYSE: FUL), the US adhesives major, tabled an unsolicited cash proposal on 30 April. Critically, this is a strategic buyer, not financial. Fuller already makes medical adhesives and wants to bolt on AMS’s […]
The Quick Take Company: Journeo plc (AIM: JNEO) — a UK-headquartered intelligent transport systems specialist, providing the onboard sensors, passenger information displays, and software platforms that connect public transport fleets, stations and increasingly critical national infrastructure across five business lines (Fleet Systems, Passenger Systems, Infotec, Journeo A/S Denmark, and Crime & Fire Defence Systems) Thesis: […]
This is a high-quality update across all the things that matter for an off-price retailer: traffic up, comp up across divisions, gross margin expanding on merchandise discipline, capital return accelerating. The fact that management is not flowing through the entire Q1 beat to the full year is conservative-credible rather than worrying — they’re flagging fuel […]