Small Cap Value Report (Mon 4 April 2022) - BLV, MGP, FUL, TED, THRU

Good morning, it's Paul amp; Jack here with the SCVR for Monday.

Agenda - 

Paul's Section:

Ted Baker (LON:TED) - takeover approaches. Sycamore has raised its cash offer (was previously 137.5p) but we're not told how much. Other third parties have expressed interest too. So a formal sales process has been launched. I'm sceptical whether any bids are likely to be high enough to persuade the big 4 shareholders (including the founder Ray Kelvin) to sell up, but everything has a price, so who knows?!Thruvision (LON:THRU) - a serial disappointer in the past, with never-ending losses each year. However, today's trading update shows signs of decent growth, and a positive outlook. Breakeven beckons possibly for 2023? Might be worth doing some digging on this one, the products look interesting, and have attracted big name clients. Valuation looks warm though.

Jack's section:

Belvoir (LON:BLV) - a 25th year of profit growth, stretching back through cycles. Belvoir has organic growth opportunities and smaller acquisition candidates. Meanwhile, the shares trade on 13.6x forecast rolling earnings with an FY21 yield of 3.24%, which hardly seems demanding given the track record and prospects.

Medica (LON:MGP) - elective scanning is now back to...