The economy is below historic levels of GDP expansion but still ranks high globally
London pubs outperform
London-based pubs are experiencing stronger like-for-like sales growth than the rest of the country and are outperforming restaurants in the capital, according to the latest Coffer Peach Tracker. Our top picks are Young & Co’s Brewery (YNGA:AIM) at £12 and Fuller, Smith & Turner (FSTA) at £11.63, both of which are likely to benefit from the upcoming Rugby World Cup. (EP)
CloudBuy in peril
Electronic purchasing minnow CloudBuy (CBUY:AIM) could be close to collapse after being ditched by its nomad Westhouse Securities, forcing a suspension of share trading. The £24.7 million cap will miss £4 million revenue targets this year to 31 December, and with just £2.9 million of cash on its books, may struggle to fund itself through to the year end. (SFr)
Sportech’s fantasy move
Football pools operator Sportech (SPO) has formed a joint venture to exploit the growth of fantasy sports games in the US. Trading at 64.5p, it’s currently the subject of a potential takeover approach by Canadian rival Contagious Gaming (CNS:CVE). (EP)
Stagnation worry
At 8.41p remain wary of Swedish digital buying platform supplier EU Supply (EUSP:AIM) despite apparent headline progress. While recent interim losses at the £6 million cap were slashed by 40% to £900,000 most of that came from favourable forex movements cutting operating costs. (SFr)
Have a look at Havelock
Weakness at interior fitout and refurbishment specialist Havelock Europa (HVE:AIM), marked down to 11.5p following a severe profit warning (1 Sep), might interest risk tolerant micro cap fans. Having sold educational display boards arm Teacherboards to pay down debt, the £4.4 million cap can now focus on restructuring its core business and diversifying its customer base under new CEO David Ritchie. (JC)
Cheers for Conviviality
Bargain Booze-to-Wine Rack owner Conviviality Retail (CVR:AIM), whose attractions we highlighted in our recent Griller interview, has been restored to trading after confirming (8 Sep) the hotly-anticipated £200 million acquisition of Matthew Clark. (JC)
