Morning Brief – 10-Jul-2018

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Morning Brief Images 10-Jul-2018

UK Stock Market News Today – 10-Jul-2018

Morning all!

Adept Telecom (ADT) – 360p – £85.3m – PER 14.3

Final Results For The 12 Months To End March 2018 – Revenue up 34.8% to £46.4m (2017: £34.4m), PBT up 32.8% to £4.5m (2017: £3.4m), Fully Adjusted EPS up 26.2% to 27.69p (2017: 21.94p), FY Dividend up 12.9% to 8.75p (2017: 7.75p) with Year End Net Senior Debt at £17.6m (2017: £15.5m).

I still like this quite a lot and it’s breaking out to all time highs at present. If it wasn’t for that Debt level I could probably be swayed from my Neutral stance.

Begbies Traynor (BEG) – 69.4p – £76.6m – PER 17.8

Final Results For The 12 Months To End April 2018 – Revenue £52.4m (£49.7m last time) with Adjusted PBT of £5.6m (£4.9m last time) and Adjusted Basic EPS of 4.0p (3.3p last time) – The Dividend is up 9%, the first increase since 2011 and expecting to make further progress (organically and via selective acquisitions).

I still can’t find enough here to make me change my view from Neutral.

Photo-Me International (PHTM) – 109.4p – £413.0m – PER 12.1

Results For The 12 Months To End April 2018 – Revenue up 7.1% to £229.8m (5.9% at CC), Underlying PBT up 0.3% (down 1.6% at CC), Net cash £26.7m, Total Ordinary Dividend up 20% to 8.44p.

Looks to be as expected here and after selling out in May 2018 I will remain Neutral while growth remains pedestrian.

ITE (ITE) – 79p – £213.0m – PER 12.7

Trading Update For The Period From 1st April 2018 (Q3) – In-line and confident of achieving FY expectations.

If they hit forecasts here this is probably due a re-rating but at present I will remain Neutral.

MySale (MYSL) – 59.9p – £92.4m – PER 29.7

Trading Update For The 12 Months To End June 2018 – Expects underlying EBITDA to be in line with the top end of market expectations of A$11.8m (FY17: A$8.7m) on Revenue growth of 10%.

Have to wait to see what the real profits are – Results due in October, Neutral until then.

As always, all comment most welcome!

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