Morning Brief – 13-Jun-2019

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Morning Brief Images 13-Jun-2019

UK Stock Market News Today – 13-Jun-2019

Morning all!

Majestic Wine (WINE) – 318p – £229m – PER 22.8

Results For The 12 Months To 1st April 2019 – Revenue up 6.3%, Adjusted PBT down -34.5%, Adjusted EPS down similar to 14.7p, LBT of -£8.5m (£8.3m PBT last time), Final Dividend cancelled to be replaced by a Special Dividend later in the year.

Going through a transformation here and it’s just too confusing for me at present – I will remain on the side-lines until things are a little clearer.

Onthemarket (OTMP) – 105p – £66m – PER n/a

Results For The 12 Months To End January 2019 – Revenue up slightly, Operating Loss of -£13.6m (+£3.9m last time), Cash at £15.7m.

I remain uninterested here until I see more progress, at the moment it seems too much like a coin flip to me.

Sopheon (SPE) – 1140p – £116m – PER 22.9

AGM Statement – Confirms Revenue up 19%, PBT up 25%, Net Cash at $16.7m, all growth organic and Dividend will be increased 30%.

Still continue to kick myself for not paying up here sub 400p (not that long ago) but I still reckon it’s overvalued now at these levels.

Taptica International (TAP) – 98p – £125m – PER 2.8

AGM Statement – First 5 months Revenue lower than last year, buybacks continue.

I am still staying away from this for now – Just no idea if it’s a viable business.

Volex (VLX) – 102p – £150m – PER 8.8

Results For The 12 Months To End March 2019 – Revenue up 15.4%, Underlying PBT up 108.2%, EPS up 42.7% (to 12.7c) with Net Cash at $20.6m ($9.9m last time). Expects to reinstate Dividend at next Interims.

Looks like a slight beat on the forecasts I had – I remain Long here.

As always, all comment most welcome!

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