Tipped as a buy in the Independent today.

Half year results due out on 3rd December, so judging from the trading statement today the share price should continue on its journey North up to that date. A very nice looking chart over the last four months.

Flying higher today.

Next target on the chart looks to be in the region of 75p.

Half year results due out on 3rd December. Let the trend be your friend!

skinny I have to thank The Independent for flagging this one up in March when I started this thread and bought in at 24p. Great recovery play when you look at the chart and where the sp was in 2008 = 120p.

Continues on the upward trend, next immediate target on the chart 75p.

Finished up 7.50% - pretty good!

Off on another flier this morning. Half year results due out early December.

In IC this week - Sweet still looks to cheap.

Thank you for that dreamcatcher, I don't get IC.

Reads well doodlebug4. The share price is just keeping up with the pace at which city analysts are upgrading their forecasts. There may be more good news when the group reports first half results next month, so there is still value to go for. Still a reasonable share rating 13.5 times forecast earnings for the current year, comfortably below average for the support services sector. And the speed at which earnings are growing means there will be scope for smart dividend growth. Buy.

Nice intraday reversal and I should have topped up on the 6p dip over the last two days - damn! Half year results out next week.

Interim Results

Operational highlights

· Diversified order book which stands at £101m, 61% of which represents orders from outside Europe;
· Positive contributions from all businesses;
· Continued diversification of revenue across all regions - Europe 56%, Asia Pacific 32% and MEAI 12%;
· Integrated approach to global clients;
· Significant new commissions in energy and infrastructure sectors;
· Frameworks representing an increasingly significant contribution;
· Increase in staff numbers by 9.5% to just over 1,500 over the last 12 months, reflecting ongoing investment in people to enhance our global footprint;
· Net debt down 25.2% to £7.1m (H1 2013: £9.5m);
· Successful unwinding of Australian dollar derivative contract resulting in £1m gain;
· Global banking facilities re-negotiated.

Is share price ahead of events?
@ 67.5p are on a historic PE of 17, taking the basic earnings 4p not the more diluted 3.4p

Adjusted earnings per share were 4.0p (2013 H1: 2.2p) and adjusted diluted earnings per share were 3.9p (2013 H1: 2.2p). Basic earnings per share were 3.4p (2013 H1: 1.8p) and diluted earnings per share were 3.4p (2013 H1: 1.8p).

Looks like it, ontheturn - share price getting hammered now.

Target price retained at 90p

03 Dec 2013 Sweett Group PLC CSG Westhouse Securities Buy 58.50 70.50 70.00 90.00 Retains

on Paul Scotts page today 10.30am -

Small Cap Value Report (3rd Dec)

I'm scratching my head a bit over the interim results to 30 Sep 2013 from Sweett (LON:CSG) this morning. The company has issued a series of very positive trading updates throughout this year, but these results really don't justify their bullishness, and the shares are down nearly 8% this morning to 65.5p.

I don't currently hold this share, but if I did, would be pretty miffed - both at the overly bullish statements previously issued by the company this year, and the misrepresentation of these results - the headlines say that profit before tax is up 75%, and that basic EPS is up 89%, but this is totally misleading! The underlying profitability is only up 6.7% to £2.7m. What has generated the increase in profit further down the P&L is finance income of £1m - which is the unwinding of an Australian derivative contract, so clearly should have been disclosed as exceptional, but hasn't been. Funny isn't it, how companies are terribly keen to strip out exceptional costs, but are coy about stripping out exceptional gains.

All in all, I think this is a pretty appalling case of total BS presentation of the figures, and I'm afraid that from now on I simply won't believe any upbeat trading statements from this company.

There is another table that tries to compare this year's £3.5m "core trading" with last year's £910k. However, the £3.5m includes the £1m derivative gain, which should surely be stripped out to make it comparable? They're not comparing apples with apples in my opinion.

Net debt has fallen from £9.5m a year ago, to £7.1m at 30 Sep 2013, although that is flat against the 31 Mar 2013 figure.

The interim dividend has been raised to 0.5p (from 0.3p), so since 0.7p was paid at the final stage last year, in all likelihood the payout this year is probably going to be about 1.3-1.5p, which gives a modest yield of about 2%.

Being a people business, I wonder how much profit growth potential there is, since in an economic recovery the staff will (justifiably) want pay rises, as in many cases pay has been restricted in the last five years.

Overall, as you can probably gather, I'm seriously unimpressed with how these figures have been presented, and as such there's no way I'll be buying back into this stock, and will treat all future trading statements from this company with a large pinch of salt.

How to value it accurately?

hxxp://www.-.com/content/small-cap-value-report-3-dec-vnet-csg-rgd-79575/

ott heartily agree caveat emptor!

Cockney Rebel posted a very similar view to Paul Scott early this morning on his thread. Paul Scott had previously bought into this stock I believe.