UK Stock Market News Today – 10-Apr-2019
Altitude (ALT) – 103p – £71m – PER 14
Trading Update For The 12 Months To End December 2018 – A Trading Update (for the year ending over 3 months ago when most are reporting actuals), weird! Anyway, it’s an “in-line with market expectations” statement.
I remain un-interested here and a little perplexed as to why it’s just getting round to issuing an update.
Epwin (EPWN) – 73p – £104m – PER 7
Results For The 12 Months To End December 2018 – Revenue, Adjusted PBT, EPS, Dividend all down, Net Debt stable at £24.8m. Current trading is in-line.
The StockRank remains high (at 96) and I remain unconvinced.
Hollywood Bowl (BOWL) – 220p – £330m – PER 15.5
Trading Update For The 6 Months To End March 2019 – Revenue up 5.3% (4.4% LFL), continues to trade in-line with the Board’s expectations.
I used to hold Ten Entertainment (TEG) until recently but am now of the view, perhaps wrongly, that neither of these operators are worthy of a 15+ PER rating.
Norcros (NXR) – 188p – £151m – PER 5.8
Trading Update For The 12 Months To End March 2019 – Expecting PBT to be in-line with Net Debt down from £47.1m to £36m.
Nice to see that Net Debt come down and if it was not for the Pension Liability (£29m or so) and the exposure to South Africa (30% or so of Revenues) this would be more attractive. Tempting but still a few too many barriers for me.
SRT Marine Systems (SRT) – 30p – £46m – PER 15
Trading Update For The 12 Months To End March 2019 – Expects Revenue of £20m and PBT of £3m with Net Cash at £3.9m. No mention of “expectations” here at all, lazy *****.
A huge improvement on last year (made a Loss), on a quick check this does look like a slight miss though – I remain on the side-lines.
Tracsis (TRCS) – 622p – £178m – PER 22
Interim Results For The 6 Months To End January 2019 – Revenue, PBT and Cash all down slightly, the Interim Dividend is up 14%. Two acquisitions will benefit H2, FY expected to be in-line.
I still reckon this is overvalued at this level.
Walker Greenback (WGB) – 57p – £40m – PER 6.5
Results For The 12 Months To End January 2019 – Revenue up 1%, Adjusted Underlying PBT in-line (down -25.2%), EPS is down -26.9% and, the Dividend is also down.
Not much to get excited about here.
Warpaint London (W7L) – 98p – £75m – PER 8
Results For The 12 Months To End December 2018 – Revenue (looks in-line) up 49.2%, Profits and EPS down (my notes show expectations were for increases here).
Again they increase Revenue but fail to increase Profits, I am still not interested in buying back in here (after taking a Profit Warning hit last year).
As always, all comment most welcome!