Mon 14 July 2025 - Paul Scott's Small/Mid Cap Value Report

Alun's Snapshot at 07:53. v1 table at 07:58. Starters: ASHM, FTC, ELIX, BKS, IGR, PULS, CML, SATS, PEN Mains: EAH, BKS

Good morning from Paul & Alun!

Incredible weather continues, I wonder what effects it’s likely to have on the economy? We’ll find out soon. Does it matter, or are these just normal variations in weather/performance, that average out over time? It depends on our investing time horizon I suppose.

Prices here have to go up tomorrow I’m afraid, as I registered for VAT over the weekend. Although I’ve found conflicting information online about whether providing a digital newsletter, subscription service is actually VAT-able, or exempt. If anyone is a VAT expert, and knows the answer, please message me. I’m playing it safe for now anyway, by registering, and will hike prices 20% tomorrow I’m afraid. Sorry about that, but it has to be done for now.

Mello Monday

Some interesting companies that we like here are presenting tonight -

• Advanced AdvT (Vin Murria - as discussed in the weekend chat!) - AMBER/GREEN

• Grainger - large buy to let landlord - AMBER/GREEN

• Time Finance - alternative lender. I’m not keen on sector, but shares have done v well - AMBER

• Mercia Asset Mgt - 2 “materially ahead” updates this year - GREEN

• ActiveOps - punchy valuation, given little profit, so must be a good story/growth potential - AMBER

Use the code MMSHComp25 for a free ticket.

End of free section.

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