Morning Brief – 12-Apr-2018

Morning Brief Images 12-Apr-2018

UK Stock Market News Today – 12-Apr-2018

Morning all!

Mothercare (MTC) – 17p – £29.0m – PER 6.97

Q4 Trading Update For The 12 Weeks To 24 March 2018 – Uninspiring – Continues “to explore additional sources of financing to support and maintain the momentum of our transformation programme”.

Remains on my Avoid list.

Quiz (QUIZ) – 150p – £186.3m – PER 18.4

Trading Update For The 12 Months To End March 2018 – Revenue upin-line, 30% to £116.4m. Gross Margins in-line but Operating costs slightly higher.

Revenue increase nice but with no mention of profits in this update (Why Oh Why Oh Why) and with no broker updates available – I have to sit on the side-lines here.

City Pub (CPC) – 159.5p – £90.1m – PER 22.2

Results For The 12 Months To End December 2017 – Revenue up 35% to £37.4m (2016: £27.8m), LFL sales growth of 3.8%, driven by good growth in drink and accommodation, FY Dividend up 50% to 2.25p (2016: 1.50p). Reported (loss)/Profit After Tax including IPO and other exceptional items of -£0.7m (2016: £0.4m). Confident of meeting expectations for the year ahead with the first 14 weeks sales up 22%.

Will remain Neutral here for now and keep an eye out for updates on profitability.

Solid State (SOLI) – 378.4p – £32.0m – PER 10.8

Trading Update For The 12 Months To End March 2018 – In-line with PBT circa £3m, Revenue to be slightly ahead at £45.5m, up 15%. Order book up slightly but expecting impact from the Communication business in 2018/19 (a profit warning?).

Not enough here to shift my view from Neutral, especially with that “impact” announcement without any guidance.

As always, all comment most welcome – Have a great day!

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