UK Stock Market News Today – 13-Jun-2018
Eckoh (ECK) – 42.25p – £106.5m – PER 21.7
Final Results For The 12 Months To End March 2018 – In-line with expectations with Revenue up 3% and PBT up 50%. Strong pipeline and confident of long-term growth.
These results although stated as in-line seem to be below those forecast on Stockopedia. Although reasonably comfortable with them I may consider challenging my decision to continue to hold here.
Norcos (NXR) – 199.5p – £160.0m – PER 6.47
Results For The 12 Months To End March 2018 – In-line with a ninth consecutive year of growth – Revenue up 10.7% at £300.1m (2017: £271.2m), Underlying Operating Profit up 15.1% at £27.4m (2017: £23.8m), acquisition trading strongly (in-line with expectations and fully integrated), FY Dividend up 8.3% to 7.8p.
Still quite like this (Pension deficit reduced to £48m from £62.7m now) but not enough to yet change my view from Neutral.
Connect (CNCT) – 52p – £128.8m – PER 3.78
Trading Update From 1st May To 2 June 2018 – Ouch! Performance has been extremely disappointing and the company has materially reduced its expectations for FY PBT, decided to close Pass My Parcel and wind down the associated Parcel Shop network, FY Dividend will be substantially reduced – Group is announcing senior executive changes.
I remain Neutral here as it seems I have about as much idea what is happening as the previous Execs did.
AND THAT’S IT FOR A WHILE, OFF ON A 2 WEEK HOLIDAY – WILL KEEP AN EYE IN BUT WON’T BE UPDATING WHILST AWAY.
As always, all comment most welcome and, be careful out there!