Morning Brief – 13-Mar-2018

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Morning Brief Images 13-Mar-2018

UK Stock Market News Today – 13-Mar-2018

Morning all!

Applegreen (APGN) – 485p – £455.6m – PER 20.1

Preliminary Results For The 12 Months To End December 2017 – Revenue up 21% to €1,428.1m, Adjusted PBT up 17.7% to €24.6m, Adjusted EPS up 10.0% to 25.65c and Net Debt at €10.2m (31 December 2016: €19.4m). Grew estate by 99 sites to 342 sites and the Final Dividend will be 0.80c total for the year of 1.40c.

There’s quite a lot to like here, my concern is can it really grow. For that reason I will remain Neutral for now and keep an eye out for updates.

Brady (BRY) – 57.13p – £47.6m – PER 95.2

Preliminary Results For The 12 Months To End December 2017 – Revenue down, Loss After Tax up, Net Cash down.

I am just not interested in companies reporting results like this, it’s going on my Avoid list for now.

Gresham Technologies (GHT) – 202p – £136.3m – PER 30.6

Results For The 12 Months To End December 2017 – Group revenues up 26% to £21.7m (2016: £17.2m), Statutory PBT up 41% to £3.1m (2016: £2.2m), Adjusted Diluted EPS up 38% to 6.5p (2016: 4.7 pence), Cash of £8.5m including £0.2m short-term bank deposits and no debt (2016: £7.2m and no debt). Progressive dividend policy initiated – Final dividend proposed at 0.5 pence per share (2016: nil).

Still quite like this but the outlook in the update is not the most inspiring for a company on a PER of 30+. For now, for the sake of keeping an eye on it, I will keep it on my Watchlist, 160p.

Goals Soccer Centres (GOAL) – 65.5p – £49.3m – PER 8.97

Final Results For The 12 Months To End December 2017 – Revenue down slightly to £33.1m (£33.0m last time) with Underlying PBT of £6.2m (£7.7m last time) and Underlying Diluted EPS is 6.3p (9.7p last time). Net Debt is £29.8m (£24.1m last time).

I just can’t get enthused here at all.

H & T (HAT) – 353p – £132.2m – PER 11.0

Preliminary Results For The 12 Months To End December 2017 – Nice, PBT up 45.4% to £11.3m (2016: £7.6m) and Diluted EPS is up 48.2% to 30.94p (2016: 20.88p). Final dividend of 6.2p (2016: 5.3p), full year will be 10.5p (2016: 9.2p). 2018 in-line at present.

Still like this but just preferring Ramsdens Holdings (LON:RFX), which I hold. Tempted but with RFX I already have sector exposure.

Stadium (SDM) – 120.7p – £46.1m – PER 11.2

Final Results For The 12 Months To End December 2017 – Look OK.

Takeover by TT Electronics in progress, 120p so will now cease coverage here.

Surgical Innovations (SUN) – 3.93p – £30.7m – PER 15.3

Results For The 12 Months To End December 2017 – Revenues up by 44% to £8.75m (2016: £6.09m), Adjusted PBT of £1.10m (2017 reported: £0.54m, 2016: £0.28m), Adjusted EPS of 0.19 pence (2017 reported: 0.10 pence, 2016: 0.15 pence) with Net Debt at £0.73m (2016: Net Cash of £0.72m). Some Q1 headwinds (weather) but optimistic no FY impact.

Not overly convinced here and with Broker downgrades and a 6% Spread I will leave alone for now.

Zotefoams (ZTF) – 471p – £209.2m – PER 26.3

Results For The 12 Months To End December 2017 – “Another record year for sales and profits”, Revenue up 22% to £70.15m (2016: £57.38m), reported PBT up 8% to £7.55m (2016: £6.99m) and the FY Dividend will be 5.93p (2016: 5.75p), a 3.1% increase.

Wrongly, I avoided this on a PER of 19 and on a PER of 25.3. I am still not tempted.

Bango (BGO) – 191.56p – £133.7m – PER 106.4

Results For The 12 Months To End December 2017 – Revenue up 62% to £4.2m (2016: £2.6m), Lossbefore interest, tax, depreciation, amortization and share based payment charge, -£1.6m (2016: -£2.8m). Confident for the current year.

Just too much of a gamble for me.

XLMedia (XLM) – 192p – £423.1m – PER 16.3

Results For The 12 Months To End December 2017 – Revenue up 33% to $137.6 million (2016: $103.6 million), PBT up 27% to $39.3m (2016: $31.0m), EPS up 25% to $0.15 (2016: $0.12) and Cashand short-term investments of $43.3m.

Doubled up on this one and sold half, continue to hold the remainder.

Midwich (MIDW) – 595p – £472.7m – PER 23.0

Results For The 12 Months To End December 2017 – Revenue up 27.5% from £370.1m to £471.9m (24.2% in constant currency), Adjusted PBT up 35.7% from £17.9m to £24.3m (31.9% in constant currency), Final dividend 9.65p (2016: 7.09p) taking the total annual dividend payment to 13.82p, anincrease of 36.2% on a LFL basis.

Remains on my Watchlist at 500p although wishing I had perhaps bought in already!

CRAZY MORNING!

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

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