St Peter Port Capital (LON:SPPC) reports this morning for the last year. It is not good. The directors report that annual costs have been reduced by £200,000. But they fail to mention that they are still £900,000 on a portfolio valued at around £13m.
TNAV is now down to 20p and, at this rate, it will not be many years before it declines to the current 9p. Can’t Shore Capital do something to protect its reputation?
However, Elektron (LON:EKT), now 38p, continues to edge up in the light of the Hardman Research paper, which points out that EKT’s subsidiary Bulgin is getting on for worth the current capitalisation (£70m), leaving Checkit, the white hope, virtually in for free. This supports a target price for EKT of 100p. It’s a long way to go though.
Arron Banks has received the full Remainer attack in yesterday’s Sunday Times. The effort was so pathetic, he must be grateful that the world is stuffed with idiots to staff that paper. Lucky man.
Finally, I understand that the story of recovery at Accrol (LON:ACRL) is getting better and better. This is a doubler or a trebler on a one year view. Now 25p.