Morning Brief – 16-Jan-2019

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Morning Brief Images 16-Jan-2019

UK Stock Market News Today – 16-Jan-2019

Morning all!

1PM (OPM) – 46p – £40.3m – PER 6

Results For The 6 Months To End November 2018 – Revenue up 15%, Basic EPS up 12%, first Interim Dividend declared, well positioned for further growth.

I am Long here and this seems quite encouraging, will remain Long subject to market reaction here.

City Pub (CPC) – 197p – £120m – PER 20.9

Trading Update For The 12 Months To End December 2018 – LFL up 1.6%, Revenue of £45.6m, in-line with market expectations. Opmitistic for 2019.

Still looks priced about right here.

EKF Diagnostics (EKF) – 31.3p – £142m – PER 24.1

Trading Update For The 12 Months To End December 2018 – EBITDA to be comfortably ahead of market expectations with Net Cash of £9.4m (£7m last time).

I still can’t see value here, will keep an eye out for Broker notes though.

Finsbury Food (FIF) – 93p – £120m – PER 8.4

Trading Update For The 6 Months To End December 2018 – Revenue flat at best.

With the price down -7.5% yesterday perhaps this was to be expected. Not for me at present.

Getbusy (GETB) – 34p – £16.5m – PER n/a

Trading Update For The 12 Months To End December 2018 – Revenue up 20%, Cash £2.5m (both ahead of expectations) and EBITDA in-line (actual Profit?).

I remain Long here and will wait to see actuals – Was unable to sell out in an illiquid market, now paying the price!

Headlam (HEAD) – 400p – £338m – PER 9.3

Trading Update For The 12 Months To End December 2018 – Seems to be in-line with market expectations. Expects next years Revenue to be in-line with this year (market weakness) with Underlying PBT expected to be lower (guides £39m – £41m).

I still expect to see more drift in the share price here, not for me at present.

Nocros (NXR) – 195p – £157m – PER 6.0

Trading Update And Acquisition – Buys South African Plumbing company for £12.1 (cash and existing facilities), to be earnings enhancing immediately. Current trading is challenging but in-line.

Would be tempting if it wasn’t for that HUGE Net Debt.

Seeing Machines (SEE) – 4.3p – £98m – PER n/a

Trading Update For The 6 Months To End December 2018 – FY 2019 Revenue to be in-line with 2018 – Remains unchanged.

Not much to change my mind here, I remain Neutral.

Somero Enterprises (SOM) – 293p – £164m – PER 9.4

Trading Update For The 12 Months To End December 2018 – Revenue and EBITDA moderately ahead of market expectations, Net Cash to be significantly ahead (circa $25m). Confident of profitable growth in 2019. There’s also an acquisition which will have a slight positive impact on 2019 earniings.

As a previous holding I still quite like. I will keep an eye out for changes in the current (modest) EPS growth forecasts of 3% and 6% in the next 2 years.

Van Elle Holdings (VANL) – 80p – £64m – PER 7.2

Interim Results For The 6 Months To End October 2018 – Revenue down -18.4%, Underlying PBT down -48.1% and Underlying EPS down -48.2%.

I still don’t like the look of this at present.

Works Co Uk (WRKS) – 136p – £84m – PER 12.2

Interim Results For The 26 Weeks To 28th October 2018 – Revenue up 15%, Adjusted LBT same as last time (-£4.4m).

First coverage here for me, I will wait for further updates (most keen to see profitability).

As always, all comment most welcome!

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