Morning Brief – 18-Jul-2018

Morning Brief Images 18-Jul-2018

UK Stock Market News Today – 18-Jul-2018

Morning all!

Carr’s (CARR) – 165p – £150.8m – PER 13.0

Trading Update For The 17 Week Period To End June 2018 – Trading slightly ahead of expectations, FY to be slightly ahead of expectations.

Looks like this was anticipated by some with the price up 10% yesterday! I will continue to sit on the side-lines here and keep an eye out for improving ROCE and Operating Margin.

Premier Foods (PFD) – 46.85p – £393.9m – PER 5.94

Trading Update For The 13 Weeks To End June 2018 – Q1 sales up 1.7%, H1 sales up 4.5% and FY expectations are unchanged.

Could be great value here (Stockopedia Value score of 88) but the Net Debt keeps me well away.

Bloomsbury Publishing (BMY) – 242p – £182.3m – PER 16.1

Trading Update For The 4 Months To End June 2018 – Revenues up 7.1% at CC or 5.5% LFL – FY in-line.

Remains on my Watchlist at 200p as I just can’t quite convince myself (probably wrongly) to pay up here.

Renold (RNO) – 29.25p – £65.9m – PER 5.89

AGM Statement – In-line.

Nothing to excite me enough to take this off my Avoid list.

MPAC (MPAC) – 218.5p – £44.1m – PER 17.5

Trading Update For The 6 Months To End June 2018 – FY Revenue to be in-line, FY Profits to be lower by £1.2m (ouch!) – Reckon that’s a 30%+ miss!

Having recently bought in here I will monitor the reaction this morning – Great broker forecasts (EPS growth for the next 4 years, starting with 2018, of 9.9, 14.1, 18.2 and 22.9 (2021)) issued just 2 months ago! Hey Ho!

Team17 (TM17) – 232.5p – £305.2m – PER 50.7

Trading Update For The 6 Months To End June 2018 – In-line.

Certainly flavour of the month, gaming companies – I need to do more research here though before considering investment. On a PER of 50.7 it better be compelling!

Hotel Chocolat (HOTC) – 346p – £390.4m – PER 32.7

Trading Update For 12 Months To 1st July 2018 – FY Revenue up 12% to £116m with PBT expected to be in-line.

I still can’t see any value here.

Headlam (HEAD) – 460.5p – £389.4m – PER 10.5

Trading Update For The 6 Months To End June 2018 – Revenue down 4.5% but still confident of delivering FY expectations.

I remain Neutral.

Strix (KETL) – 168.6p – £320.3m – PER 12.2

Trading Update For The 6 Months To End June 2018 – In-line.

As long as it protects its patents could be a decent dividend play – I am going to take this off my Watchlist now and go Neutral as I prefer Revenue and Profit growth to Dividend growth.

As always, all comment most welcome!

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