Morning Brief – 13-Mar-2019

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Morning Brief Images 13-Mar-2019

UK Stock Market News Today – 13-Mar-2019

Morning all!

Dignity (DTY) – 742p – £371m – PER 10.8

Results For The 12 Months To 28th December 2018 – Revenue down -3%, Underlying PBT down -30% and Underlying EPS fown -33%, the Dividend is flat. Competition and Markets Authority investigation into industry likely to commence this year.

I still don’t see any reason to be “bottom picking” here just yet.

EKF Diagnostic Holdings (EKF) – 32p – £145m – PER 23

Results For The 12 Months To End December 2018 – Revenue up 2%, PBT up 280% from £4.3m to £12.2m, Underlying EPS up almost 100% from 58p to 101p. Q1 of the new year in-line with management expectations.

I had this down as fairly priced around this level, need to circle back to this and check out the exceptionals here.

Empresaria (EMR) – 68p – £33.3m – PER 5.6

Results For The 12 Months To End December 2018 – Revenue up 5%, Adjusted PBT up 18%, Adjusted Diluted EPS down -3%. The Final Dividend is up 52%, with Net Debt at £17m why not pay some of it off instead!

Still seems reasonable value on a PER <6 but I will remain on the side-lines – Net Debt is a no go for me.

Franchise Brands (FRAN) – 68p – £52.7m – PER 18.7

Results For The 12 Months To End December 2018 – Ahead of expectations, Revenue up 43% to £35.5, Adjusted PBT up 36%, Basic Adjusted EPS up 21% and the Total Dividend is up 34%. New year started well, mention of potential acquisitions.

I am still tempted to take a long positon here, if I do not this it will remain on my Watchlist.

Lookers (LOOK) – 102p – £397m – PER 7.5

Results For The 12 Months To End December 2018 – Revenue up 4%, Adjusted PBT down -2%, Adjusted EPS down -8.7% and the Total Dividend up 5%. Good start to the new year, in-line with expectations.

Still no change to my Neutral stance here.

Marshall Motor Holdings (MMH) – 158p – £123m – PER 6.7

Results For The 12 Months To End December 2018 – Record results with Revenue and PBT up 1.2%, Basic Underlying EPS is up 1.9%. Dividend up 30%+, FY outlook unchanged.

I said this last time and it’s still my view today “I remain wary of the industry and remain Neutral here – Although this would probably be (will probably be) my pick of the options as and when we see some kind of improved sentiment in the industry as a whole (sound management it seems, decent well covered yield and £120m or so of property on the Balance sheet).  Almost talking myself into buying now!”.

SafeCharge International (SCH) – 297p – £452m – PER 18.5

Results For The 12 Months To End December 2018 – Revenue up 24%, PAT up 4%, Diluted EPS up 3% and the Total Dividend is up 8%. Excellent start to the new year with a strong sales pipeline.

Having sold out here in July (2018) this still looks about fairly priced (at best) to me.

Somero Enterprises (SOM) – 375p – £211m – PER 11.7

Results For The 12 Months To End December 2018 – Record Revenue (+10%) and PBT (+13), Net Cash is up 48% and the Dividend (19c) is up 23% (there’s also a Special Dividend which is up 225% (11.7c).

Looks good, looks to have beaten the forecasts I have in my notes. Will be reviewing this with a potential to buy back in again.

As always, all comment most welcome!

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