Morning Brief – 14-Dec-2017

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Morning Brief Images 14-Dec-2017

Morning All!

Altitude (ALT) – 69.7p – £35.4m – PER 18.4

Trading Statement – What a yarn!

Can’t work out if this latest update is good news or bad news. Fundamentals look OK but on a PER of 18.4, I’m not interested any further here at present.

Huntsworth (HNT) – 81.75p – £269.9m – PER 13.3

Trading Update For The 11 Months To End November 2017 – Growth has been strong and expects to “reach at least market consensus”, which is £22.8m PBT. Net Debt is up, it seems from about £30m last time to about £45m now. Outlook is confident.

Doubled in 2018 this still looks reasonable attractive but probably priced about right. Will keep an eye on updates.

Tribal (TRB) – 79.22p – £155.3m – PER 23.9

Trading Update – Great headline “Board anticipates that Group revenues will be slightly ahead of expectations and the financial performance of the Group will be materially ahead”. This is good too – “Balance sheet remains strong, with no long-term debt. As previously indicated, the Group anticipates ending the year with a larger cash balance than reported in 2016”.

Looks all round OK here. I guess the main thing putting me off is the PER of 23.9 – I want to invest here but I just can’t bring myself too at this price. Decided to put it on the Watchlist, somewhere around the 70p level.

Tungsten (TUNG) – 59.13p – £74.5m – PER n/a

Results For The 6 Months To End October 2017 – Revenue up 10% with a statutory loss of £8.5m versus a loss of £4.5m last time.

I’m just not interested here. But, IF forecasts are to be believed – It should have enough Cash to see it through to profitability (for the first time) in 2019.

Severfield (SFR) – 73p – £218.7m – PER 11.1

Awarded Landmark Contract For Google’s UK Headquarters – “This contract win adds to our recently announced strong order book of £245m and supports Severfield’s position as the market leader with unrivaled design, fabrication and construction capabilities”.

Quite a lot to like here – It’s on my Watchlist around the 67p level.

A good day to all…

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