Small Cap Value Report (Wed 19 June 2024) - SFR, AVG. Brief: BKG, GAW, RQIH, AFM

Good morning from Paul (now back in the UK after a wonderful trip to Washington DC - a fantastic place to visit, highly recommended!). Graham's having a well deserved holiday.

I've added some extra links below, at the bottom of the explanatory notes (that nobody ever reads lol!), as I noticed that there were several requests for those links. This way they're available in every report from now on. 

Explanatory notes -

A quick reminder that we don’t recommend any shares. 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 (usually) between £10m and £1bn. We usually avoid the smallest, and most speculative companies, and also avoid a few specialist sectors (e.g. natural resources, pharma/biotech, investment cos). Although if something is newsworthy and interesting, we'll try to...