Morning Brief – 12-Mar-2019

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Morning Brief Images 12-Mar-2019

UK Stock Market News Today – 12-Mar-2019

Morning all!

French Connection (FCCN) – 42.4p – £41m – PER 38.5

Results For The 12 Months To End January 2019 – Return to profitability (just), +£0.1m (Loss of -£2.1m last time). Wholesale up, Retail down, non-contributing locations being closed – Cash at £16.2m.

Seems to be heading in the right direction and it’s a known that the business is up for sale. Still not enough for me to be tempted though.

Gresham Technologies (GHT) – 89.5p – £61m – PER 47.4

Results For The 12 Months To End December 2018 – Revenue down -8%, Loss of -£1.4m (£-3.8m last time), Cash at £5.6m (£8.5m last time) and the Dividend is static at 0.5p.

I am as attracted here today as I was yesterday.

H & T (HAT) – 285p – £107.3m – PER 10.1

Results For The 12 Months To End December 2018 – PBT up 13.4%, Diluted EPS up 12.7% and the Dividend is up 4.8%.

Reasonably attractive but I reckon it’s about fairly valued at this level – For the income.

Midwich (MIDW) – 575p – £456.8m – PER 18.3

Final Results For The 12 Months To End December 2018 – Revenue up 21%, PBT up 11.5% (19.7% adj.) and EPS up 8.6% (19.3% adj.). The Total Dividend is up about 10% and the board expects 2019 to be in-line with existing expectations.

Looks about fairly priced to me.

Pendragon (PDG) – 26.4p – £368.8m – PER 9

Results For The 12 Months To End December 2018 – Revenue is down (-1.3%), Underlying PBT is down about -20% and Net Debt remains around the £125m level.

I cannot get interested here at present.

Pennant International (PEN) – 111.5p – £40.2m – PER 11.5

Results For The 12 Months To End December 2018 – Revenue up 15% or so, PBT and EPS doubled (or thereabouts), the Order book is up about 10% (to £37m) and there’s Net Cash.

Looks great but forecasts show a 5% increase in EPS next year, will keep an eye out for Broker notes.

Water Intelligence (WATR) – 318p – £48.4m – PER 29.6

Trading Results For FY 2018 – Revenue and Adjusted PBT ahead of market expectations, both up 40%+. Q1 started strong, expecting Q2 and FY to be similar.

Great results and a very bullish outlook, perhaps too bullish? As an ex-holder I am tempted here yet again, will keep an eye out for revised Broker notes.

As always, all comment most welcome!

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