Morning Brief – 18-Jan-2018

0
515
Morning Brief Images 18-Jan-2018

UK Stock Market News Today – 18-Jan-2018

Morning All!

A lot to get through…

Headlam (HEAD) – 570p – £483.6m – PER 12.6

Trading Update For The 12 Months To End December 2017 – Margin enhancements and efficiencies offset the slightly lower than expected revenue growth – Underlying PBT to be comfortably in-linewith consensus market expectations (£42.5m, up 6% on last year).

Still attractive enough, especially for that reasonably well covered Dividend of circa 4%+. There’s also a decent cash pile. Wouldn’t mind this yield with the Cash safety net there too. It’s going on my Watchlist, 530p, where that yield will be even more attractive.

Ten Entertainment (TEG) – 262p – £170.3m – PER 13.8

Trading Update For The 12 Months To End December 2017 – In-line with the growth strategy (LFL Revenue up 3.6% (7% in the second half). Expects EBITDA to be at the top end of the range of current market consensus. Encouraged by the performance of the new innovative “Pins & Strings technology” currently being rolled out.

Seems I missed the boat here on this one. Will keep an eye on this from the side-lines for now. Actually decided to add it to my Watchlist, 210p.

Air Partner (AIR) – 151.5p – £79.1m – PER 17.5

Trading Statement – Revenue to be at least £6.4m (£5.1m last year) which is ahead of market consensus of £5.9m. Group retains a strong net cash position.

A decent update, I hold and will continue to do so.

SafeCharge International (SCH) – 311.5p – £457.5m – PER 17.8

Trading Update For The 12 Months To End December 2017 – In-line with market expectations, Revenues in the range of US$111-112 million and Adjusted EBITDA in the range of US$33-34 million. “With robust current trading, a strong sales pipeline and new clients set to join the platform, the Directors look forward with confidence to the 2018 financial year”.

I currently hold a long position here and will continue to do so.

Microgen (MCGN) – 450p – £273.9m – PER 24.6

Trading Update – Clear as mud.

Have to say fundamentally this looks quite good to me. It’s doubled in the past 12 months so well done, it seems, to those on board. Not understanding the company much and at this price I am not going to get involved at the moment.

Stadium (SDM) – 90.35p – £34.5m – PER 8.37

Trading Update For The 12 Months To End December 2017 – In-line with management’s expectations (following the trading update in November 2017). Net Debt expected to be better than expectations, circa £11.8m.

In-line with other metrics looking quite attractive. The Net Debt increase however is just enough to put me off here (it’s almost doubled and is now over 30% of the current Mkt Cap).

Cello (CLL) – 124p – £129.6m – PER 15.1

Trading Update For The 12 Months To End December 2017 – In-line and moved into a Net Cashposition.

Looks OK but I just don’t like consistency – Revenue and Profit. DownUp, Profit, Loss… Nice to have moved into Net Cash but still not enough here for me at present.

Finsbury Food (FIF) – 111.23p – £145.0m – PER 10.7

Trading Statement For The 6 Months To End December 2017 – In-line.

Will keep an eye out for actuals (Profits) when they come in.

Portmeirion (PMP) – 925.1p – £100.4m – PER 12.8

Trading Update For The 12 Months To End December 2017 – “Record Sales For The Ninth Consecutive Year” is the headline, over £84.5m, up 10% on last year. PBT expected to be slightly ahead of market expectations.

A lot to like here, it’s going on my Watchlist, 875p.

Franchise Brands (FRAN) – 55p – £42.8m – PER 18.6

Trading Update For The 12 Months To End December 2017 – Results to be ahead of market expectations. 2018 started well.

I’m tempted here, it’s going on my Watchlist, 50p.

Fairfx (FFX) – 76.8p – £119.3m – PER 14.2

Trading Update For The 12 Months To End December 2017 – In-line (but £1.1b seems to be a miss on the £1.365b Revenue estimate on Stockopedia) and has great confidence for the prospects for 2018.

Will have to wait and see actual Profits here.

Miton (MGR) – 40.4p – £69.7m – PER 12.6

Trading Update For The 12 Months To End December 2017 – Assets Under Management up 32% and overall financial performance expected to be in-line with management expectations.

I quite like this but need to look into it a little more, for now I will add it to my Watchlist, 35p.

Phew – Sorry about the late posting but was a lot to get through here, quite a few new companies for me came up today…

Advertisement
Stockopedia Banner