Small Cap Value Report (Mon 27 March 2023) - BLV, NAR, TND

Good morning from Graham and Paul!




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 a few specialist sectors (e.g. natural resources, pharma/biotech).
A key assumption is that readers DYOR (do your own research), and make your own investment decisions. Reader comments are welcomed - please be civil, rational, and include the company name/ticker, otherwise people won't necessarily know what company you are referring to.

Graham's Section
Belvoir (LON:BLV)
Share price: 168.8p (+2%)Market cap: £63m
Belvoir is one of the listed property franchisors, along with Property Franchise (LON:TPFG) and M Winkworth