Morning Brief – 10-Jun-2019

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Morning Brief Images 10-Jun-2019

UK Stock Market News Today – 10-Jun-2019

Morning all!

In case you missed it, I posted my Monthly Recap for June here – Covering all my purchases and sales in the month of May.

I also posted my Parity PEG Price Reports for June here (free sign up required to access) – Covering 20 stocks updated in the month of May.

Onto this morning…

Accrol Group (ACRL) – 26p – £51m – PER 7.4

Trading Update For The 12 Months To End April 2019 – Revenue flat, Adjusted LBT of -£2.5m to -£3m expected, Net Debt down from £29.6m to £27.1m (that’s still a lot!).

I still reckon the Stockopedia view of “Highly Speculative” is applicable here.

Codemasters Group (CDM) – 255p – £357m – PER 20.4

Results For The 12 Months To End March 2019 – Revenue up 11.9% from £63.6m to £71.2m, Gross Profit up 16%, Adjusted EPS up 64.1% from 8.1p to 13.3p, Net Cash at £18.2m (Net Debt of £112.9m last time). Strong schedule of games and increased focus on digital and “Games As A Service”.

Looks about in-line to me but with next years EPS growth forecast to be flat I will remain on the side-lines for now.

Ideagen (IDEA) – 144p – £316m – PER 25

Acquisition Of Redland Solutions – £15.8m paid (funded from extended facility), expected to be earnings enhancing immediately.

Still too expensive for me on a PER of 25, will be keen to see how this addition affects forecasts though.

As always, all comment most welcome!

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