Morning Brief – 11-Sep-2018

0
3935
Morning Brief Images 11-Sep-2018

UK Stock Market News Today – 11-Sep-2018

Morning all!

Alumasc (ALU) – 125.5p – £45.3m – PER 7.07

FY Results For The 12 Months To End June 2018 – Revenues £98.4m (2016/17: £104.8m) due to severe weather in Q3 and the impact of the Carillion liquidation, Underlying PBT of £6.5m (2016/17: £9.0m), Basic EPS of 12.0p (2016/17: 18.3p), Net Debt of £4.8m (2017: Net Cash of £6.1m) reflecting investment in the acquisition of Wade International and the new Timloc factory.

I retain my “staying away from this for now” stance here.

K3 Capital (K3C) – 327p – £137.6m – PER 27.4

Final Results For The 12 Months To End May 2018 – Revenue up 53% (£16.5m), PBT up 103% (£7.3m), Net Cash up 121% (£7.5m), EPS up 114% (14.1p) and the Dividend is up 56% too (11.25p). New technologies and systems should fuel future growth, 2019 trading is ahead of expectations.

A lot to like – Been on my Watchlist since it was half this price and it may be time to stop sitting on the side-lines.

Murgitroyd (MUR) – 725p – £64.8m – PER 20.2

Preliminary Results For The 12 Months To End May 2018 – Revenue flat (£43.9m), Underlying PBT up 7% to £4.1m (2017: £3.8m), Dividend up 24%, Underlying Basic EPS up 21% to 34.2p (2017: 28.3p) with Cash at £3.03m (31 May 2017: £2.54m).

This was on my Watchlist (from 400p – Doh!) but I will go Neutral for now as on a PER of 20 or so it’s perhaps reached a more fair valuation here.

SimplyBiz (SBIZ) – 177p – £134.9m – PER 13.5

Interim Results For The 6 Months To End June 2018 – Maiden results are in-line – Revenue up 13.7% to £24.2m (H1 2017: £21.3m), Adjusted PBT up 60.8% to £4.5m, Adjusted EPS up 61.7% to 4.68p, Net Debt down from £1.6m at date of listing to Net Cash of £1.2m and a Maiden Interim Dividend of 0.98p will be paid (covering 9 months).

Tempting – Still quite like this and it remains on my Watchlist.

Surgical Innovations (SUN) – 3.4p – £26.0m – PER 17.3

Interim Results For The 6 Months To End June 2018 – Revenue up 52.4% to £5.28m (2017H1: £3.47m), primarily due to the acquisition of Elemental Healthcare, Reported PBT (after acquisition related amortisation costs and share based payment charges) of £0.09m, Adjusted EPS of 0.05p (2017H1: 0.06p) with Net cash at £0.02m (31 Dec 2017: net debt £0.73m).

I remain Neutral here for now.

STM (STM) – 71p – £41.2m – PER 11.1

Interim Results For The 6 Months To End June 2018 – In-line or thereabouts.

Remains on my Avoid list as I still wary of the staffing issues.

Team17 (TM17) – 225p – £295.4m – PER 26.6

Interim Results For The 6 Months To End June 2018 – “Record H1 Performance” – Revenue up 48% to £15.4m (H1 2017: £10.4m), Gross Profit up 25% to £6.9m (H1 2017: £5.5m), Adjusted EPS of 1.93 pence (H1 2017: 0.56 pence) with Net Cash (debt) of £13.4m (H1 2017: (£37.5m)).

Looks more tempting at this price, will go on the Watchlist if I don’t get involved this week.

TP (TPG) – 6.85p – £51.2m – PER 40.0

Interim Results For The 6 Months To End June 2018 – Revenue up 52% to £16.0m (H1 2017: £10.5m), Adjusted Operating Profit grew to £0.9m (H1 2017: £0.1m), Closing order book up 31% to £56.5m (31 December 2017: £43.0m), Cash of £21.0m (31 December 2017: £21.9m). On track to deliver FY in-line.

Still quite like this, it’s on the Watchlist although I will probably wait to see how the FY looks.

As always, all comment most welcome!

Advertisement
Stockopedia Banner