Morning Brief – 17-Jul-2018

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Morning Brief Images 17-Jul-2018

UK Stock Market News Today – 17-Jul-2018

Morning all!

Gateley Holdings (GTLY) – 166p – £180.0m – PER 13.9

Preliminary Results For The 12 Months To End April 2018 – Revenue up 11.0% to £86.1m (2017: £77.6m), PBT up 11.7% to £14.6m (2017: £13.1m), Basic EPS up 17.0% to 11.03p (2017: 9.43p) with a FY Dividend of 7.0p (2017: 6.6p).

Looks OK and I still have a feeling it’s fairly priced here – I remain Neutral.

Ideagen (IDEA) – 123.5p – £250.5m – PER 25.7

Preliminary Results For The 12 Months To End April 2018 – Revenue up 33% to £36.1m (FY2017: £27.1m), Adjusted PBT up 40% to £9.7m (FY2017: £6.9m), Adjusted diluted EPS up 33% to 4.19p (FY2017: 3.16p) and the FY Dividend is up 15%. Trading since the year end has been robust.

I am tempted here but the ROCE and Op Mgn as well as the forecast +14% growth in EPS for 2019 are just putting me off enough. Will remain Neutral for now and keep an eye out for broker notes – Tempted (it will go on my Watchlist at least)!

Amino Technologies (AMO) – 203.5p – £147.9m – PER 13.2

Results For The 6 Months To End May 2018 – In-line, with Revenue down 17% and a Statutory Loss of -£0.1m versus +£6.3m last time. Interim Dividend is up 10%. With a seasonal H2 weighting, still confident of meeting FY expectations.

The 10% Interim Dividend seems like a sweetener here where H2 weighting will make up for what looks like a woeful H1. I will remain Neutral.

Synectics (SNX) – 213p – £37.9m – PER 12.1

Interim Results For The 6 Months To End May 2018 – Revenue up 3% to £34.7m (2017: £33.7m), Order book up 18%, PBT up 12% to £1.5m (2017: £1.3m), Diluted EPS 5.9p (2017: 6.1p), Strong cash generation and net cash of £9.1m at 31 May 2018 (2017: £1.8m), Interim dividend increased to 1.2p (2017: 1.0p). FY to be in-line.

Quite like these results (and Stockpedia likes the stock, StockRank 95) but I still can’t be tempted to press the buy button here.

Somero Enterprises (SOM) – 397.5p – £223.7m – PER 16.2

Trading Update For H1 2018 – In-line.

I hold here and will continue to do so although I would of course liked to have seen a little more in the way of growth (the ROCE and Operating Margin provide me with some level of comfort).

SimplyBiz (SBIZ) – 184.99p – £141.5m – PER 15.7

Trading Update For The 6 Months To End June 2018 – Strong start, trading in-line.

A new one for me and I quite like it – Very tempted to take an initial position, if I don’t it will go on the Watchlist.

As always, all comment most welcome!

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