Valuation appeal | Struggling manufacturers | Big dividend yield
News covered here includes much improved results from a specialist engineering group supporting the hydrogen economy, an interesting acquisition for a provider of specialist software and further production disruptions for a fast-growing manufacturer of specialist brake discs. Shares in a franchise cake retailer look decent value, but we question the size of the market opportunity. Read on here for this and other news. (Free to read)
Eleco: small acquisition looks interesting Eleco (AIM: ELCO), the software provider for the built environment, has acquired Buckinghamshire-based BestOutcome, a UK provider of Project Portfolio Management (PPM) software for an initial consideration of £4.825m in cash (£3.525m on a cash-and-debt-free equivalent). The acquisition strengthens Eleco's Building Lifecyle portfolio, representing further progress in its strategy to enhance its predictable recurring revenue and to increase value to its shareholders by investing in synergistic software products and technologies. The acquisition will enhance both annualised recurring revenue and earnings in the second half of the year ending 31 December 2023 and beyond. BestOutcome reported…