Good morning! This has to be quick, as I have to dash for the train to Milton Keynes shortly, for the Home Retail Group (HOME) AGM.
Further evidence that retailing is bottoming out/improving has been supplied today with a decent trading statement from Topps Tiles (TPT). They report positive LFL sales, and confirm market expectations for the year.
Debt has been a problem for TPT - they geared the business up at the wrong point in the cycle, and have been struggling ever since. It doesn't look cheap to me, once you factor in the debt.
Silverdell (SID) seems to be on a roll, with some decent-sized contract wins announced today for its recently acquired EDS subsidiary. I don't hold, but like the management, whom we've met twice at Dave Stredder's "Mello Central" investor evenings hosted by FinnCap. Seems to be an ambitious company that is going places.
Taylor Wimpey (TW.) report a stable property market, and in line trading.
Strong trading update from Netplay (NPT) but it only talks about sales and says nothing about profit! Given the company's tendency to disappoint in the past, I'm sceptical given its £28m mkt cap.
Right, gotta dash for this train. I'll report back on the HOME AGM here either later today, or tomorrow.
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