Very disappointing trading update from Hilton Foods. While this has been a long term holding of mine, it is also the one which has gone the most since purchase. This is the second time in a few months that they updated the market negatively. I have a 3 strikes out rule and this is the … Continue reading Hilton Foods →
New trades
Over the past several weeks I’ve done a few more trades. I completely sold out of Alumasc prior to the results(which I am extremely pleased about as it come off by about 20% since then). I think the building business is quite tough in the moment(another one of my holdings Billington had to close down … Continue reading New trades →
Google, Meta and Amazon results
2 out of the 3 beat expectations and the share price action reflected this. While Meta’s core results were great, the significant CAPEX spending on AI is spooking investors. I would likely use this opportunity to top up if the shares drop any further. While I am not a big fan of Google’s Gemini(Open AI … Continue reading Google, Meta and Amazon results →
Proposed changes to NIC contribution for partnerships
There is speculation in the markets today that the UK Chancellor would remove the exemption from the NIC contribution to partnerships and LLPs. This would predominantly affect law and accountancy firms. As a result I have decided to exit my positions in FRP and scale down substantially my Begbies position. On balance the changes should … Continue reading Proposed changes to NIC contribution for partnerships →
Mitie H1 trading update
Very strong update from Mitie for H126. Upgrading profit guidance by 11% vs 2025 as well as similar upgrade to market consensus. Integration with Marlow is going as planned, so all is looking positive. The only small concern is that the TCV(Total Contract value) is below H1 25 at £3bn. But still much higher than … Continue reading Mitie H1 trading update →
Performance update Q3
Was there a saying that not much happens during the summer months in the markets? You certainly can’t say that for my portfolio which had a very turbulent Q3. Seven of the stocks in my portfolio returned more than -10% over the quarter, while 7 returned move than +15%. Broadly speaking netting off and returning … Continue reading Performance update Q3 →
Transense Technologies update
Transense had its final results on the 23rd Sept. Unfortunately after these results I decided to call it a day for now(after being in the stock for 2.5yrs). I still like the management team and what they are trying to achieve, I just don’t think the numbers add up anymore. The company made £1.4m in … Continue reading Transense Technologies update →
Google Chrome
Very positive ruling by the Federal Court in the US. Obviously the share price rise(+9%) reflects the positive sentiment by investors. This would refocus the management time on AI and clear up a lot of the uncertainty hanging over the stock. I think this should be positive for the stock beyond the recent market move … Continue reading Google Chrome →
Hilton Food results
Somewhat disappointing results from Hilton. The Foppen business(maybe Floppen is more apt) is struggling again. Issues at the high margin fish division(Foppen). Contaminated fish at the Greek production facility so now they need to airlift fish from the Netherlands to the US. Cost so far of £2m with additional £5m until the issue is resolved. … Continue reading Hilton Food results →
New positions
Over the past month few months I have acquired shares in Meta(META) and FRP Advisory Group(FRP.L) as well as small positions in Hermes(RMSP) and one of my all time favourite companies(held it for 10yrs prior to COVID), TK Maxx(TJX). Meta, Hermes and TJX would likely be long term holdings while buying on weakness in the … Continue reading New positions →