Small Cap Value Report (Wed 22 Mar 2023) - SDRY, BOOT, HSW, FEVR, JDG, MPAC, BMS, ANP, BIRD, TEG, PDG, BYIT, NAH

Good morning from Paul amp; Graham. 
Pretty much a clean sweep today, with 13 companies covered. That leaves us clear to focus on some backlog items from earlier this week in tomorrow's report. Sorry for the delays, but as you know, we can't cover everything.  So today's report is now finished.
We're going to attempt to catch up today, with a few missed items from yesterday, but obviously we can't cover everything, especially if it's just trading in line with expectations (hence not price sensitive, so our previous opinion would usually be retained).

Explanatory notes -
A quick reminder that we don’t recommend any stocks. We aim to review trading updates amp; results of the day and offer our opinions on them as possible candidates for further research if they interest you. Our opinions will sometimes turn out to be right, and sometimes wrong, because it's anybody's guess what direction market sentiment will take amp; nobody can predict the future with certainty. We are analysing the company fundamentals, not trying to predict market sentiment.
We stick to companies that have issued news on the day, with market caps up to about £700m. We avoid the smallest, and most speculative companies, and also avoid...