Morning Brief – 19-Sep-2018

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Morning Brief Images 19-Sep-2018

UK Stock Market News Today – 19-Sep-2018

Morning all!

Innovaderma (IDP) – 168p – £24.2m – PER 22.7

Final Results For The 12 Months To End June 2018 – Revenue up 21% to £10.7m (FY2017: £8.9m), PBT £0.67m (FY2017: £1.03m) due to one off investments. Net Cash of £1.9m (as at 30 June 2017: £0.21m). Note: Skinny Tan is going into Boots, 1,000+ stores in Q1 2019 (joining Superdrug). Strong growth expected in 2019.

Will keep this on my Watchlist to keep an eye out for updates – Really needs to start improving not just Revenues but PBT and EPS too, but this is perhaps now due.

Alliance Pharma (APH) – 91p – £468.8m – PER 18.3

Interim Results For The 6 Months To End June 2018 – Revenue up 10% (12% CC) with Underlying Basic EPS up 4%, Net Debt stands at £86.3m, £72.3m last time. The Interim Dividend is up 10% to 0.487p.

On a PER of almost 20 I remain Neutral for now.

Cello (CLL) – 133p – £139.3m – PER 14.9

Interim Results For The 6 Months To End June 2018 – Revenue flat, with Statutory PBT up 23.5% and Statutory Basic EPS up 9.3%. Net Debt is down about 10% and the Interim Dividend is up 4.8%.

I said this last time “Seems like an OK company but there’s not enough here to make me want to invest at present”, I will remain Neutral.

Elektron Technology (EKT) – 48.5p – £90.3m – PER 30.7

Interim Results For The 6 Months To End July 2018 – Revenue up 17% to £15.9m, Operating Profit up 180% to £1.4m (H1 FY18: £0.5m), Net Cash at £6.8m (31 July 2017: £2.1m; 31 January 2018: £5.2m). Positive outlook for H2 and beyond, FY to be in-line with recently upgraded expectations.

I am tempted here, it’s going on my Watchlist – Forecasts look good, even on a PER of 30 or so, perhaps it’s time to take the plunge!

Quixant (QXT) – 479p – £317.8m – PER 23.5

Interim Results For The 6 Months To End June 2018 – In-line, expecting to meet FY expectations. Expects significant market growth over the medium term.

I am long here – It’s forecast +20.4% EPS growth in 2018 and +15% in 2019, so perhaps it’s getting more fairly valued now. Will remain long and, as always, keep an eye on market reaction and updated Broker notes.

Mission Marketing (TMMG) – 50p – £42.2m – PER 5.41

Interim Results For The 6 Months To End June 2018 – Revenue up 10% to £37.0m (2017: £33.8m), PBT up 23% to £3.5m (2017: £2.9m), Headline Diluted EPS up 25% to 3.22p (2017: 2.58p) and the Interim Dividend is up 27%. Expect to deliver on 2018 forecasts and beyond.

This is looking much more interesting here – Double Digit growth on a PER of 6 or so. It’s going back on my Watchlist if I don’t get involved in the sessions ahead.

Eckoh (ECK) – 33.25p – £84.0m – PER 40.1

AGM Statement – In-line.

I sold out here in June 2018 as results, although in-line were behind those (which I expected and based my buying in decision on) forecast on Stockopedia. I remain Neutral for now.

Arena Events (ARE) – 72.5p – £109.9m – PER 12.3

Interim Results For The 6 Months To End June 2018 – Revenue up 23% to £54.9m (H1 17: £44.8m), Gross Profit £16.7m (H1 17: £14.2m), Operating Profit of £0.3m (H1 17: loss of £0.8m) and the Interim Dividend is up 10% or so.

Looks more interesting now there’s a sign of Profit coming through, it’s coming off my Avoid list to Neutral.

Strix (KETL) – 168p – £319.2m – PER 11.4

Interim Results For The 6 Months To End June 2018 – In-line with FY expectations.

Perhaps attractive for the yield but growth forecasts seems to suggest a fair price here. I’m Neutral.

As always, all comment most welcome!

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