MS International (AIM: MSI), one of my top holdings, published its results this morning for the year to 30 April 2026. The headline numbers were soft, as pre-flagged: revenue held steady at £115.0m, but pre-tax profit fell 25% to £15.1m and EPS dropped to 67.4p — a cost story, not a demand one; gross margin […]
Seven weeks after an AGM statement that merely reaffirmed guidance, Keller has issued an unscheduled upgrade: full-year 2026 revenue and underlying operating profit are now expected to be materially ahead of market expectations (consensus £3,150m and £223m respectively). North America is doing the heavy lifting — materially outperforming, with data centre and infrastructure demand the […]
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 […]
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 […]
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. […]
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: […]
The Quick Take Company: Advanced Medical Solutions Group (AIM: AMS) — UK-headquartered specialist in tissue-healing technologies, with a global portfolio of surgical adhesives, sutures, haemostats, internal fixation devices, sealants and wound dressings sold under LiquiBand, RESORBA, Peters Surgical, ActivHeal and a dozen other brands Thesis: A 35-year-old precision medical device business that has just executed […]
TA Associates this week confirmed it does not intend to proceed with a formal offer for Advanced Medical Solutions (AMS), bringing the latest private-equity approach to an end. Under Rule 2.8 of the Takeover Code, TA is now restricted from making another offer for six months — but other suitors are not. What is striking […]