Morning Brief – 18-Apr-2018

Morning Brief Images 18-Apr-2018

UK Stock Market News Today – 18-Apr-2018

Morning all!

GYG (GYG) – 106.89p – £49.9m – PER 9.05

Final Results For The 12 Months To End December 2017 – Revenue up 14.7% to €62.6m (FY161 €54.6m), Operating profit of €1.4m which includes €3.9m of exceptional items, mainly related to the IPO (FY16 operating profit of €1.9m), Net Debt reduced to €6.7m at 31 December 2017 (FY16: €10.4m). Total dividend of 3.2p, reflecting the 6 month period from IPO to the year end.

I just don’t know here – Looks decent value but I am just not sure with those “exceptional items”. I will remain Neutral for now.

IG Design (IGR) – 432p – £276.0m – PER 18.5

Trading Update For The 12 Months To End March 2018 – In-line.

Still quite like this – It remains on my Watchlist, 380p (Sadly I missed a retracement to my Entry earlier in the month, perhaps I will need to revise this level now).

System1 (SYS1) – 300p – £37.4m – PER 18.0

Trading Update For The 12 Months To End March 2018 – Can’t see any good news here.

No more interested here today than I was yesterday, I remain Neutral for now.

Telford Homes (TEF) – 423.5p – £319.8m – PER 7.58

Trading Update For The 12 Months To End March 2018 – Expects to report record levels of Revenue and PBT (up by more than 30% and slightly ahead of market expectations – Assisted by an improvement in the gross and operating margins of approximately 3%).  Strong opportunity for further growth in the coming years.

Looks great value and quite tempting even if it’s just to have some exposure to a sector I am avoiding due to “uncertainty”. I have been expecting “blood on the streets” for some time in the housing and automobile sectors, perhaps wrongly! Will remain Neutral here for now.

Vianet (VNET) – 139.6p – £39.5m – PER 15.0

Trading Update For The 12 Months To End March 2018 – FY profits to be broadly in line with expectations, will recommend a maintained final dividend of 4.0p. Medium to Long term prospects are exciting (but not the Short term?).

Is this enough to see another circa 50% rise in the next 12 months? Perhaps not but this could be a long term tuck-away. I will remain Neutral but keep an eye out for updates.

Dignity (DTY) – 932.5p – £466.3m – PER 13.7

Trading Update For Q1 2018 – Revenue was approximately £95m compared to £93m last time with EBIT (£37.5m) flat (but significantly ahead of the Board’s expectations). Continues to conduct price and service trials. FY Results expected to be ahead of current market expectations.

Encouraging, perhaps turning a corner. I remain Neutral for now and will watch for updates.

Animalcare (ANCR) – 261.2p – £156.5m – PER 15.9

Trading Update – Slightly ahead of management expectations, and earnings to be broadly in linewith management expectations. Oh Dear! This year (2018) – Earnings to be significantly ahead butbelow market expectations.

I still think this is overvalued – Based on the forecasts, which will now be surely be revised (lower). I remain Neutral.

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

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