Morning Brief – 17-Apr-2018

Morning Brief Images 17-Apr-2018

UK Stock Market News Today – 17-Apr-2018

Morning all!

TP (TPG) – 5.60p – £42.6m – PER 28.1

Results For The 12 Months To End December 2017 – Revenue up 39% to £29.5m (2016: £21.2m) with an Operating Loss £0.5m (2016: £0.3m). Closing cash of £21.9m (2016: £9.2m), £20.8m from an equity raise to “fund ambitious growth plans”. Order book up 89% to £32.1m (2016: £17.0m).

A bit of a mixed bag here and it seems quite a miss on the Profit front, e.g. making a Loss instead of a Profit. Problems handling growth perhaps? And, the intention is to grow more? Will remain on the side-lines for now.

Dialight (DIA) – 524p – £171.1m – PER 15.4

Trading Update For The 12 Months To End December 2018 – Not sure what this means but it doesn’t seem very positive.

Anyway, it will remain on my Avoid list for now.

Porvair (PRV) – 490p – £228.2m – PER 24.6

AGM Trading Update For The 4 Months To End March 2018 – In-line, Revenue growth of 9%.

I just expect more here from a company trading on a PER of 20+, I’m Neutral for now.

Findel (FDL) – 251p – £212.6m – PER 9.09

Trading Update For The 12 Months To End March 2018 – Upper end of market expectations with Net Debt down circa £7m to £74m.

There’s just way too much Net Debt here for me and, last I read, there’s a Pension Deficit of £2.5m a year too. I’m Avoiding this one for now.

Filta Group (FLTA) – 197.5p – £52.6m – PER 26.9

Results For The 12 Months To End December 2017 – PBT of £1.7m (2016: loss of £0.2m) with Revenue up by 34% at £13.5m (2016: £10.1m). Service and territory expansion seems to be progressing well. Outlook confident.

Nice update, remains on my Watchlist at 150p but perhaps it’s worth paying up here now. Will keep an eye on this this morning.

Flowtech Fluidpower (FLO) – 173.25p – £97.8m – PER 10.9

Q1 2018 Trading Update – Revenue up to £26.5m from £17.5, +51.4%. Gross Margin in-line.

Still looks good, just missed out on my 150p Watchlist Entry last month. Remains on my Watchlist but could even be worth paying up here.

Subsequent Note: I bought in here today.

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

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