Thank you for all your support! It's been an absolute pleasure 😊

Thank you kindly TRI! I'll still be around, so please do keep in touch 😊

I am immensely proud of the work Peter and I have undertaken together and have high hopes that the podcast will continue to go from strength to strength in the years to come. Thank you for listening. I have loved every moment.

Following a change in my personal circumstances, I am stepping away from investment-related media activity. That means that I will no longer be able to participate in the Twin Petes Investing podcast or to publish investing-related media activity.

S&U (#SUS) has published their interim results indicating: ✅️ Revenue +11% to £57.3m ✅️ Pre-tax profit +0.6% to £15.7m ✅️ Earnings per share +1.3% to 96.8p I continue to hold.

The 10% dividend increase is a strong signal of management confidence, but H1 cover is only 1.1x and the Board itself says that is unsustainable. My takeaway: Terrible H1. Encouraging order recovery. FY26 guidance now carries much more execution risk. I continue to hold.

Balance sheet also deserves watching. Adjusted net debt: £45.3m Gearing: 2.1x vs 1.5x at FY25 Cash conversion remains decent at 90%, and bank facilities have been extended to 2030. But I’d rather see deleveraging than aggressive M&A until earnings recover.

But the order picture has improved significantly. China is also showing early signs of normalising. That's the strongest evidence in the statement that H1 may prove to be the trough. The problem is the amount of work H2 now has to do.

Revenue fell from £70.2m to £55.7m. Adjusted operating profit fell 66% to £4.8m. Adjusted EPS fell from 141.4p to just 39.0p. ROTIC has dropped from 17.8% at FY25 to 12.9%. This isn't just a minor earnings wobble.

The first half was hit from several directions: ❌️ No Geotek coring expedition ❌️ US research funding uncertainty ❌️ Offshore wind delays ❌️ Chinese procurement disruption Geotek accounts for ~8% of the revenue decline. The rest is broader weakness.

Judges Scientific (#JDG) H1 results are ugly. ❌️ Revenue -21% ❌️ Adjusted PBT -75% ❌️ Adjusted EPS -72% ❌️ Net debt higher And yet full-year guidance is unchanged. That makes the recovery in orders the most important number in today’s update.

Central Asia Metal's (#CAML) Cygnus acquisition has cleared another hurdle. The issue now is what this makes the company: a dependable cash-generative miner acquiring a potentially valuable growth pipeline, but also accepting materially more development risk. I continue to hold.

Absolutely! Always benefits to having smarter friends 😉

Very! I'd rather rely on good judgement over good timing, but occasionally it's nice to have both 😂