Strong trading update from S&U (#SUS) indicating group profitability "ahead of expectations and budget". Lending rates and quality increasing, the latterbdescribed as "very good". I continue to hold.

NEW HOLDING opened in Q2, Experian (#EXPN) has delivered their FY26 update indicating performance at "upper end" of expectations: ✅️ Revenue +12% to $8.4bn ✅️ Pre-tax profit +26% to $1.9bn ✅️ Earnings per share +29% to 164.5c ✅️ Margin expansion "above expectations"

NEW HOLDING opened in Q2, Diploma (#DPLM) has published their H1 trading update indicating: ✅Organic revenue growth +15% ✅Operating margin of +3% to 24.5% ✅Earnings per share +36% Quality and diversity of portfolio and resilient business model underpin forward confidence.

#TWINPETESINVESTING episode 179 now live! Tune in to hear @conkers3.bsky.social and I discussing potential investing opportunities hiding in plain sight including #BA. #QQ. #GRG #ABDN #PCTN #LMP #SREI and more! Please remember to like, subscribe and comment 🙏 www.youtube.com/watch?v=Ha4L...

Secure Trust Bank (#STB) has published their Q1 trading update indicating net lending up 6.6% and deposit down 6.6% Y-o-Y. Business on track to commence share buybacks. I continue to hold.

Aviva (#AV.) has published their Q1 trading update indicating: ✅️ Insurance premiums +9% to £3.4bn ✅️ Net wealth inflows of £3.3bn ✅️ Wealth AuM +18% to £233bn ❌️ Solvency II ratio -9pp to 171% I continue to hold.

A strong Q1 trading update from TP ICAP (#TCAP) indicating record revenue of £689m, a 13% increase year-on-year. I continue to hold

Vistry Group (#VTY) has published a trading update indicating a challenging Q2 and highlighting "increasing macroeconomic uncertainty". Trading seems subdued with the forward order book sat dowj slightly at £4.5bn of which £2.3bn is due in the current year. I continue to hold.

🔥 #TWINPETESINVESTING #Podcast 178: WINNING INVESTMENTS, A LIVE* PORTFOLIO CLINIC. The Master Investor Show 2026 *Remix. #VLX #BP. #$MLI #VALT #GAMA #ITM #$WTI #$BRENT #INVESTING #DIVIDENDS #TECH #Ai #PALLADIUM #ENERGY #POWER #$OIL podcasts.apple.com/gb/podcast/t... www.youtube.com/watch?v=HYNu...

Delighted to share this EXPANDED edition of our live Twin Petes Investing podcast from the Master Investor Show 2026: www.youtube.com/watch?v=HYNu... A huge thank you again to everyone that came to support @conkers3.bsky.social and I on the day!

Relief as Persimmon confirms FY26 targets: Housebuilder sticks to its completions and profit guidance for this year, but admits rising build costs could impact H2 earnings if left unchecked. #PSN #$PSN sharesify.com/relief-as-pe...

Ecora Royalties (#ECOR) has released their Q1 trading update indicating: ✅Portfolio contribution +105% to $12.3m ✅ Net debt -1% to $84.4m I continue to hold.

S&U (#SUS), has announced its preliminary results for the period ended Feb 2026: ❌ Revenue -7% to £107.4m ✅ Pre-tax profit +32% to £31.8m ✅ Basic EPS +32% to 195.2p I continue to hold.

#TWINPETESINVESTING PODCAST 177 NOW LIVE Tune in to hear @conkers3.bsky.social and I interviewing the marvellous Annabel Brodie-Smith of the AIC on all things investment trusts including #SABA #EWI #SMT #ATT #HVPE #IEM #MNTN #CLIG #MKNS #TRIG #FGEN and more! www.youtube.com/watch?v=ZGEE...

A cautious Q3 trading update from Alumasc (#ALU) indicating revenue +2% and 28% growth in orders year on year. Describes market conditions as "challenging" and the board is taking a "cautious view". I continue to hold.

Concurrent Technologies (#CNC) has published their year end results indicating: ✅️ Revenue +14% to £45.9m ✅️ Pre-tax profit +25% to £6.5m ✅️ EPS +7% to 5.86p ✅️ Order intake +15% to £47m I continue to hold.

Fascinating conversation with @bsky.app's @rose.bsky.team about what they are thinking and how they feel about you, dear user www.youtube.com/watch?v=pZbd...

#TWINPETESINVESTING PODCAST 176 NOW LIVE Tune in to hear @conkers3 and I discussing ideas for the new ISA investing including #TSCO #FAN #PHP #BBOX #BAB #SPI #ASHM #WOSG and more! Please remember to like, subscribe, and comment! youtu.be/dwPdFkOZx0w?...

Fascinating insights into the private credit world with @htviolaheir.bsky.social asking questions on all our behalfs. I am not expecting our holdings in the likes of #MGCI #RECI and #POLN to be as affected as the worst-case scenarios...

Bioventix (#BVXP) interim results for the six months to December 2025 indicate: ❌️ Revenue -9% to £6.1m ❌️ Pre-tax profit -4% to £4.85m ✅️ Cash balance +4% to £5.3m Full year trading expectations remain "in-line". I continue to hold.

Apologies to anyone that tried to visit today's post and received an error message - my site suffered some temporary technical issues this afternoon but service is now restored!

"US appeals court overturns $16bn Argentina ruling in blow to Burford Capital" (FT) "A US appeals court has overturned a ruling that found Argentina liable to pay $16bn to former shareholders of the oil major YPF" Burford #$BUR shares closed down 42% today www.ft.com/content/1fcd...

NEW BLOG POST How should investors approach ISA investing season in a falling market? A look at housing, tech, Legal & General, and the areas where I’m still adding selectively. theethicalentrepreneur.com/isa-investin...

Ecora Royalties (#ECOR) has published their FY25 results indicating: ❌️ Revenue -9% to $57m ✅️ Post-tax profit +300% to $22.2m ❌️ Adjusted EPS -24% to 8.86c ✅️ Free cashflow +21% to $27.4m ✅️ Net debt flat at $85.5m I continue to hold.

International Public Private Partnerships (#INPP) has published the FY25 results indicating: ✅️ NAV per share +4.7% to 151.4p ✅️ Cash dividend cover stable at 1.1x Capital realisation programme running at or ahead of valuation on 14% of portfolio. I continue to hold.

Chesnara (#CSN) has published their 2025 FY results indicating: ✅️ Cash generation +19% to £94m ✅️ Solvency cover +54% to 257% ✅️ Adjusted operating profit +42% to £56m I continue to hold.

Journeo (#JNEO) has published their 2025 results indicating: ✅️ Revenue +11% to £55m ✅️ Gross profit +23% to £21.8m ✅️ Adjusted pre-tax profit +13% to £5.7m ❌️ Diluted earnings per share -11% to 23.83p I continue to hold.

Croda #$CRDA share price down 18%+ since 27-Feb Now ~17x 2025 EPS, 4.5% FCF Yield Back in 2022, WTI Crude price also rose above $120 Croda 2022 Consumer Care sales rose ~10%* organically, Underlying EBIT rose 4.3% ex-FX *volume -12%, price/mix +22% open.substack.com/pub/libraria...

#TWINPETESINVESTING PODCAST 175 NOW LIVE Tune in to hear @conkers3.bsky.social and I interviewing the masterful Founder and CIO of Equitile Investments, Dr George Cooper on his views of private markets and what their future means for investors! www.youtube.com/watch?v=Vq6x...

Would this be the same invasiom that he'd already "substantially concluded"?

#CABP.L - Offer ✅Offer from StoneX at 95p. ✅A 32% premium to price just before Helios made their offer. ✅An 11% premium to the Helios offer at 85p. ➡️"a compelling opportunity for CAB Payments' shareholders to monetise their holdings in CAB Payments for cash at an attractive valuation".

Oh goody. Another great bit of press for #VTY share.googl/6H42o94RB2LG...

TP ICAP (#TCAP) has published their year end results indicating: ✅️ Revenue +6% to £2.35bn ✅️ Pre-tax profit +7% to £230m ✅️ Earnings per share +14% to 25.2p ✅️ Opererating costs -1% on prior year I continue to hold.

Secure Trust Bank (#STB) has published their 2025 full year results indicating: ❌️ Return on equity -30bps to 14.3% ❌️ Pre-tax profit flat at £59.3m ✅️ CET1 ratio +60bps to 12.9% ✅️ Loan book +8.1% to £3.3bn ✅️ Book value +5.8% to £19.73 I continue to hold.

1/4 Legal & General (#LGEN)’s fall today looks more like a capital-confidence wobble than a broken investment case. The issue isn't that the results are dreadful but capital strength is important...and has fallen....

Legal & General (#LGEN) has published the FY25 results indicating: ✅Core operating profit 6% to £1.6bn ✅Core operating EPS +9% ✅Solvency II capital generation +5% to £1.5bn ✅Solvency II coverage ratio of 210% I continue to hold.

global markets right now:

Persimmon (#PSN) has published their year end results indicating: ✅️ Revenue +17% to £3.75bn ✅️ Pre-tax profit +11% to £397m ✅️ ROCE +60bps to 11.7% Demand looks healthy, and #PSN is investing for expansion, which should support earnings growth. I continue to hold.

🔥 #TWINPETESINVESTING #Podcast 174: Long-term winning investing compounders for every investor. #HLMA #$WM #ROR #IMB #BATS #JDG #RTO #CAML #LSEG #Dividends #WarrenBuffett #PISCES #JustGiving Charity www.youtube.com/watch?v=NG4i... open.spotify.com/episode/2UyQ... podcasts.apple.com/gb/podcast/t...

#TWINPETESINVESTING PODCAST 174 NOW LIVE Tune in to hear @conkers3.bsky.social and I on the hunt for long-term compounding winners including #$WM. #ROR #HLMA #RTO #IMB #BATS and more! Please remember to like, subscribe and comment 🙏 youtu.be/NG4iOeloG64?...

Taylor Wimpey (#TW.) has published their year end results including: ✅️ Revenue +13% to £3.8bn ❌️ Pre-tax profit -54%(!!!) to £146m ❌️ Basic EPS -55%(!!!) to 2.8p ❌️ Net cash -39% to 342.6p I continue to hold.

Vistry Group (#VTY) has published their "in line with guidance" full year results including; ❌️ Revenue -4% to £4.15b ❌️ Operating profit -1% to £353.8m ✅️ Pre-tax profit +2% to £268.8m ✅️ Basic EPS +6% to 59.3p ✅️ Net debt -20% to £144m I continue to hold.

Mony Group (#MONY) has published their 2025 results indicating: ✅ Revenue +2% to £446.3m ✅ Profit after tax +1% to £80.7m ✅ Basic earnings per share +2% to 15.3p ❌ Net cash -51% to £4.1m I continue to hold.

🔥 #TWINPETESINVESTING #Podcast 173: Winning investing strategies with special guest, former fund manager, Charlie Huggins🌟 #DPLM #PHP #EXPN #REL #REITS #BONDS #Ai #$NVDA #$APPL DCF model, #Dividends & www.conkers3.com/twin-petes-i... www.youtube.com/watch?v=-Qd9... open.spotify.com/episode/1P0H...

#TWINPETESINVESTING PODCAST 173 NOW LIVE Tune in to hear @conkers3 and I interview the masterful @CharlieHuggins_ on the challenges of managing institutional funds, valuation and quality analysis and #AI. Please remember to like, subscribe and comment! youtu.be/-Qd9rffWNW4?...

Rio Tinto (#RIO) has published their FY25 results including: ✅️ Net cash from operations +8% to $16.8bn ✅️ EBITDA +9% to $25.4bn ❌️ Free cashflow and profit nosedive -28% and -14% as investment ramps up. ❌️ Net debt up an eye watering 162% to $14bn. I continue to hold.

Chesnara (#CSN) has announced an offer to acquire Scottish Widows Europe, a closed-life insurance business based in Luxembourg for €110m. The deal is expected to generate €250m of lifetime revenue and adds ~€1.7bn in assets under administration. I continie to hold.

NEW BLOG POST Volatility tempts investors into emotional decisions. Leant to use a simple “Volatility Response Ladder” to stay resilient and calm when prices move. theethicalentrepreneur.com/volatility/

I do too, sort of, James. The problem is that I can be too impetuous and so the challenge is to make myself wait until the situation becomes a bit clearer! I'm wary of the effect of AI in some instances but things are evolving v quickly. Some of the AI capabilities are quite impressive.

The #TwinPetesInvesting podcast is fundraising in memory of the shareholders rights champion Mark Bentley🙏 23 million UK adults have poor financial literacy Your donation will make a huge difference to @financialtimes.com' FINANCIAL LITERACY & INCLUSION CAMPAIGN www.justgiving.com/page/twinpet...