Morning Brief – 11-Jan-2018

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Morning Brief Images 11-Jan-2018

Morning All!

Footasylum (FOOT) – 253p – £264.3m – PER 44.1

Trading Update – Strong growth. Revenues of £89.8m (up 33.4%) for the 18 weeks to end December 2017. Revenues of £173.0m (up 34.7%) for the 44 weeks to end December 2017. Trading continues to be in-line with expectations.

Although the Revenue growth is impressive there’s no mention of Profit in this latest update. On a PER of 44.1 I would prefer to wait and see the actuals here. Can’t even find a single broker note.

Game Digital (GMD) – 60.4p – £103.2m – PER n/a

Trading Update For The 23 Weeks To 6-Jan-2018 – Group Gross Transaction Value for the peak trading period (classed as 1-Nov-2017 to 6-Jan-2018) is up 5.2% and for the 23 weeks to 6-Jan-2018 it’s up 3.8%. BELONG arenas, over 155,000 hours played, a utilisation level of 28.2% vs 21.3% in Q4 last year), new arena openings planned from February 2018 onwards (first 2 in Spain later in the year). Esports and Events – Insomnia 62 to be held over the Easter weekend, including the hosting of the Call of Duty (“COD”) World League: Birmingham Open, part of the COD World League Global Circuit with a prize pool of US$200,000, and the largest esports event the Group has run to date. Cash of £67m, up from £43m.

I am already Long and sold half having doubled my initial investment. I will continue to hold the remainder.

Of course the main story of the day (for me anyway) is the growth at Boohoo (let’s call it 100%) – And, yes, not exactly the same bag but compared to our “High Streeters” Card Factory, Tesco, John Lewis and M&S who all averaged, let’s say, 5% or less – What a different world we live in these days!

Have a great day all.

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