Morning Brief – 19-Jan-2018

Morning Brief Images 19-Jan-2018

UK Stock Market News Today – 19-Jan-2018

Morning All!

A little quieter out there today with nothing much of interest investment wise for me…

Blancco Technology (BLTG) – 75.08p – £48.0m – PER 38.9

Trading Update For The 6 Months To End December 2017 – A load of waffle and then we get to the point – “We now expect full year revenues to be towards the lower end of our guidance range while AOP (Adjusted Operating Profit) and cashflow remain in line”. Additionally “The CEO recruitment process is progressing well and we will update the market at the appropriate time”.

Not the most confident of updates, for sure I am not interested here at present.

Gama Aviation (GMAA) – 236p – £103.8m – PER 9.14

Trading Update For The 12 Months To End December 2017 – In-line and confident for 2018.

Fundamental wise looks OK (ish) but for now it’s not for me.

Carpetright (CPR) – 164.5p – £111.7m – PER 9.31

Trading Update For The 11 Weeks To End 13-Jan-2018 – This doesn’t look good. Trading in the important post-Christmas period has been significantly behind expectations, Group sales down2.3%, sharp deterioration in UK trade has had a significant impact on profitability and our outlook for the reminder of the year – Revised full year profit guidance in the range of £2.0m to £6.0m.

With Stockopedia currently stating 2018 Net Profit of £10.8m this looks like a HUGE miss. It remains on my Avoid list.

Record (REC) – 43p – £85.6m – PER 13.2

Q3 Trading Update – AUME (Assets Under Management Equivalents) up 4.4% (3.7% in GBP). fee rates for all products remained broadly unchanged from the previous quarter.  No performance fees were earned in the quarter.

I think I will now put this company on my Avoid list and stop looking at it from now on. Time to just admit that It is just too difficult for me to judge. For example, AUME up 4.4%, is that good? Doesn’t seem that good to me. No performance fees earned in the quarter, I would say that’s not good. So, would expect downside here. But, as I say, it’s just too difficult for me so will no longer spend time on it.

Bonmarche Holdings (BON) – 128.1p – £64.1m – PER 8.63

Trading Update For The 13 and 39 Week Periods To 30-Dec-2017 – Sales for the 13 weeks down 5.5% LFL, sales for the 39 weeks up 0.9% LFL. On-line up 28% and 35.5% respectively. High street ischallenging but pleased with on-line growth. Expect full year to still be in-line with previous expectations.

I don’t think this is particularly good news and for me I only see this as attractive sub 100p.

Character (CCT) – 450p – £94.1m – PER 10.7

Trading Update – 4 Months Of The Current Financial Year – In-line. International sales were adversely impacted by many factors, not least of which was the global refinancing of one of the world’s largest toy retailers (Toys R Us), domestic sales continued to perform well. Performance for the half year to 28-Feb-2018 will reflect the overall lower trading compared to 2017 but the Board remains confident that, absent any major external factors, the Group will return to its previous growth pattern during the second half of this calendar year and this will be fully reflected in the strength of the trading for the financial year to 31 August 2019.

There’s not enough confidence in this update to tempt me yet.

A good weekend to all!

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