Portfolio Update (21/09/2019)

AU Portfolio

News

None

Trades

I sold a quarter of my LaserBond Limited (ASX:LBL) holding yesterday for valuation reasons. I will probably continue selling if the price keeps rising.

Holdings

AKG - 5.28%
ANO - 3.58%
ASH - 4.26%
CGL - 4.74%
CWL - 3.32%
EAS - 3.14%
EZL - 3.24%
FID - 3.67%
GAP - 3.28%
HIT - 3.63%
ICS - 4.47%
JYC - 3.52%
KME - 6.29%
LBL - 6.57%
LYL - 4.04%
RXP - 4.54%
SEQ - 3.95%
SSG - 5.00%
SXE - 4.55%
UCW - 4.60%
UOS - 4.14%
WEB - 3.64%

Cash - 6.53%

UK Portfolio

News

Avon Rubber plc (LON:AVON) released a trading update on Monday stating that the company is on track to achieve profit expectations this year.

Bango plc (LON:BGO) released its interim results and announced an agreements with US company AE Tolls to collect tolls on freeways using direct carrier billing (DCB). End user spend (EUS), from which revenue is derived, increased 112% to £467 million for the period. This translated into a 64% increase in revenue to £4.3 million. Pricing is volume based so that high volume merchants pay a lower fee per transaction which is why revenue growth did not keep pace with EUS. As well as providing a DCB payment solution, Bango sells anonymous payment data which its customers can use to improve returns on marketing spend. Cash burn was £1.5 million and the company had £2.3 million cash at 30 June 2019. Operating costs rose from £4.6 million to £5.3 million, a much smaller increase than revenue.

Eagle Eye Solutions Group PLC (LON:EYE) announced preliminary results for the year to 30 June 2019 this week. Everything appears to be on track with all key metrics trending in the right direction. The company also announced its first Australasian customer which it described as "a leading NZ retailer". Customer churn remains very low at 0.8%.

Judges Scientific PLC (LON:JDG) reported a very pleasing set of interim results on Wednesday along with an upgrade to to forecast earnings for the full year. Second quarter order intake slowed, but has recovered since the end of the period. This company is a rare thing - a successful rollup business.

Trades

None

Holdings

AFM - 4.77%
ARC - 5.25%
AVON - 5.62%
BKS - 6.35%
BGO - 5.11%
CRL - 10.59%
D4T4 - 5.59%
ECSC - 4.87%
EYE - 4.86%
JDG - 5.65%
MGNS - 5.04%
OXB - 3.50%
RFX - 4.97%
SDI - 4.45%
VTC - 4.94%
WINK - 4.31%
WJG - 4.45%
XPP - 5.79%

Cash - 3.89%

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