Morning Brief – 14-Aug-2018

Morning Brief Images 14-Aug-2018

UK Stock Market News Today – 14-Aug-2018

Morning all!

Marshall Motor Holdings (MMH) – 157p – £122.2m – PER 6.47

Results For The 6 Months To End June 2018 – “Robust” and “further profit growth” are in the headline here but the actual numbers seem uninspiring.

First time I have covered this (not sure why) and I see no reason to be anything other than Neutral for now. That said there does seem to be £121.1m of freehold / long leasehold property on the Balance sheet!

Mears (MER) – 355p – £357.5m – PER 9.92

Results For The 6 Months To End June 2018 – A solid performance (in-line) with Revenue down -8%! Statutory PBT is +1% and EPS +6%, the Interim Dividend is up 3%. Confident of delivering against FY expectations.

I still can’t get away from Neutral here and I think Stockopedia has it about right – Classifying it as an “Adventurous, Mid Cap, Contrarian” stock.

H & T (HAT) – 310p – £116.7m – PER 8.68

Interim Results For The 6 Months To End June 2018 – PBT up 10.9% to £6.1m (H1 2017: £5.5m), Basic EPS of 13.51p (H1 2017: 11.70p) and the Interim dividend is 4.4p (2017: 4.3p). Trading continues in-line.

Down almost 20% from it’s ATH this is starting to look even more attractive now (especially as I have now also sold out of RFX). I will however remain Neutral as I suspect there’s maybe room for more weakness still.

LoopUp (LOOP) – 410p – £225.0m – PER 37.3

Trading Update For The 6 Months To End June 2018 – Revenue up 39% (22% CC), Gross Margins up 40bps to 77.2% and “confident in our ability to deliver strong future growth and meet market expectations”.

Looking more attractive at this valuation but not quite attractive enough. I am going to take this off my Watchlist for now (was at 280p) and go Neutral whilst keeping an eager eye out for updates.

As always, all comment most welcome!

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