Luceco – 2026 Adjusted Operating Profit expected to be ahead of market expectations, Q3 Trading Update next Tuesday, shares at 203p look very cheap!
Mark Watson-Mitchell – 23.10.2026 Next Tuesday, 27th October, I will be looking out for the Q3 Trading Update from the electrification products group Luceco (LON:LUCE). The statement should indicate that the market’s current 2026 expectations will be beaten. The £300m-capitalised Group’s shares are looking slightly friendless at 203p, after having hit 292p earlier in the Summer. A good announcement next week could help to turn the downward pressure on the shares, with a move
Auction Technology Group – FY26 trading slightly ahead; strong performance from Chairish, FY27 outlook in line with current market expectations
Mark Watson-Mitchell – 22.10.2026 The £581m-capitalised Auction Technology Group (LON:ATG), the operator of world-leading auction and list price marketplaces that connect millions of buyers with unique items worth finding again, this morning announced its FY26 Pre-close Trading Update. The Group anticipates its financial year 2026 revenue to be approximately $251m, slightly exceeding market expectations, with an adjusted EBITDA margin just above 34.5%. The Company expects i
SigmaRoc – Third Quarter boost and earnings accretive acquisition, shares undervalued at 119p
Mark Watson-Mitchell – 21.10.2026 This morning the £1.3bn-capitalised SigmaRoc (LON:SRC) reported a strong third quarter, with revenues for the nine months to Wednesday 30th September increasing by 2.5% to £795m, and underlying EBITDA growing by 7.5% to £207.3m, resulting in an improved underlying EBITDA margin of 26.1%. The European lime and minerals group also announced the acquisition of AB Dolomitas for €110m, which is expected to be earnings-enhancing in 2027. Despite
Halfords Group – the Interims next month will spell out further growth
Mark Watson-Mitchell – 21.10.2026 The Trading Update announced this morning by the £602m-capitalised Halfords Group (LON:HFD) has reported strong trading for the motoring and cycling products retailer for the 26 weeks to Friday 2nd October. Group like-for-like sales grew 7.1%, driven by a 7.7% increase in retail sales and 6.1% growth in Autocentres. That performance supports the previously upgraded full-year 2027 underlying profit before tax guidance of £55m to £65m, with t
Ashtead Technology Holdings – 615p a share cash offer from Ember Infrastructure, take the market price and reinvest elsewhere
Mark Watson-Mitchell – 21.10.2026 This morning Ember Infrastructure Management, LP, through its subsidiary Pine Acquisition UK Bidco Limited, has made a recommended cash offer to acquire Ashtead Technology Holdings (LON:ATG) for 615p per share, valuing the company at approximately £505m. This offer represents a significant premium of 80.9% to Ashtead Technology's closing share price on Tuesday 22nd September. The acquisition, to be effected by a Scheme Of Arrangement, is su
Shearwater Group - Central Government Cyber Security Contract Win opens up bigger markets - Finals next week
Mark Watson-Mitchell - 20.10.2026 This morning the £16.5m-capitalised Shearwater Group (LON:SWG) has announced that its subsidiary, Brookcourt Solutions, has secured a new £1.7m two-year contract with a Central Government customer for advanced threat intelligence capabilities. This contract replaces a previous agreement and expands services to include additional platform features and more users, supporting the protection of GOV.UK services and UK citizens. The win, achieved t
James Cropper - Strong first half performance; full-year expected to be ahead of current market expectations
Mark Watson-Mitchell - 20.10.2026 This morning, the £67m-capitalised James Cropper (LON:CRPR) has announced a strong first-half performance for FY27, with trading exceeding expectations primarily due to the Paper & Packaging business's revenue growth and cost management. Consequently, the company now anticipates full-year Adjusted EBITDA to be between 10% and 20% above current market expectations of £9.4m, projecting a range of £10.3m to £11.3m. This positive outlook reflects
Angling Direct – resilient first-half, cash-rich group’s shares now 56p, SQC Research TP 65p plus
Mark Watson-Mitchell – 13.10.2026 This morning fishing tackle and equipment retail group Angling Direct (LON:ANG) reported a resilient first half performance for the six months to end-July, with revenue increasing by 5.1% to £56.4m, driven by a 6.9% rise in total UK sales to £54.6m, while European sales declined by 30.4% to £1.8m. Adjusted EBITDA grew by 11.9% to £4.3m, and adjusted profit before tax increased by 11.2% to £3.3m. Earnings were up 10% to 3.20p (2.91p) per sha
