Small Cap Value Report (Thu 30 June 2022) - UBG, WYN

Good morning from Paul amp; Graham!

Agenda - to follow.  I see there are lots of tiny companies reporting today, too many for us to cover. So we'll focus on the bigger smaller caps, and I'll (Paul) check out Unbound (I hold) results, as lots of readers also hold this one (demerged from Electra PE). If readers spot anything particularly good, do flag it up in the comments, as nothing much stands out to me yet.  Graham wants to look at Wynnstay (LON:WYN) from earlier this week, as readers have been commenting on that.

Paul's Section:

Unbound (LON:UBG) (I hold) (£11m) - this is the second "in line with expectations" trading update since Unbound became a separately listed company (using the former Electra PE listing). Change of NOMAD looks positive. Marketplace strategy for third party brands is launching imminently. After a lamentable start in terms of share price since listing, I now see probably more upside than downside, so am happy to stick with it. Sorry this share has been such a lousy idea so far, but it has potential I think.

Graham's Section:

Wynnstay (LON:WYN) (124m) - this agricultural supplier confirms that it had an excellent H1. Revenues soared due...