Morning Brief – 11-Oct-2017

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Morning Brief Images 11-Oct-2017

Morning All!

Proactis Holdings (PHD)

Final Results For The 12 Months To End July 2017 – Can easily pick out that Revenue is up by 31% to £25.4m vs £19.4m last time – But this is below the £26m forecast on Stockopdeia.

This is a company that likes acquisitions, which I am not a huge fan of. It typically makes for difficult to understand updates (for me anyway), like this one – EBITDA up 49%, Statutory Operating Loss of £2.6m vs £1.9m Profit last time, EPS up 25% to 9p – Which seems ahead of forecasts. This just goes into the “too difficult” for me basket – I will invest in companies whose numbers I can better understand.

Vertu Motors (VTU)

Interim Results For The 6 Months To End August 2017 – Revenue flat, Margins flat but Adjusted PBT is up 7.2% to £20.9m vs £19.5m last time. Interim Dividend up 10% and Buy-Back to continue up to £3m.

If I had to pick a Car Retailer it would be this one. I quite fancied an entry around the 40p area a while back but was hesitant – Still quite like it even at these levels, PER is still 6.78.

Quiz (QUIZ)

Pre Close Trading Statement For The 6 Months To End September 2017 – Group revenue up 35% (online Revenue is up 204%) to £56.1m vs £41.5m last time. Gross margins remain in-line with expectations.

Up 10% in the past week ahead of this statement (insiders?), on a PER of 24.6 I am slightly tempted to get involved here.

Veltyco (VLTY)

eSports Partnership – I am getting quite involved in the eSport “revolution” (I mean in terms of investments only). I see this partnership as good news for Veltyco and although I don’t agree with some of their activities (e.g. Binary betting).

On a PER of 13.6 this could be potentially a bargain entry point. I have opened an initial Long position here this morning.

Speedy Hire (SDY)

Amendment And Extension Of Bank Facilities – This seems like great news “”We are delighted with this successful outcome which reflects our bankers’ confidence in the business.  At 30 September net debt is now expected to be less than £65m, and this revised facility, with significant headroom, gives us greater flexibility to support our strategy for growth, and lowers our cost of debt.””

I am still not interested here.

Will be keeping an eye on VLTY after taking an initial Long position this morning and also QUIZ.

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