Morning Brief – 22-Jul-2019

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Morning Brief Images 22-Jul-2019

UK Stock Market News Today – 22-Jul-2019

Morning all!

Idox (IDOX) – 31p – £130m – PER 13.5

Interim Results For The 6 Months To End April 2019 – Revenue up 1% with losses down considerably.

Still no interest here for me at present. Based on the latest Broker note this morning, 2019E EPS is forecast as down -30%, so no near term growth here.

Judges Scientific (JDG) – 3520p – £220m – PER 18.6

Trading Update For The 6 Months To End June 2019 –  Order book at 13.2 weeks, down from 15 weeks last time but confident of hitting FY expectations. Mention of exchange rate help.

Still looks overvalued to me.

Midwich (MIDW) – 560p – £445m – PER 16.7

Trading Update For The 6 Months To End June 2019 – Traded well in the first half and expects FY cash generation to be in-line with the groups long term average.

I am no more interested here today than I was yesterday.

SThree (STHR) – 279p – £365m – PER 8

Interim Results For The 6 Months To End May 2019 – Revenue up 10% (CC), PBT up 16%, EPS up 14% with the Interim Dividend up about 8% or so. FY expectations remain unchanged.

Tempting but even on a single digit PER would only be for the yield. Based on the latest Broker note this morning, in my opinion, this looks about fairly priced on a 1 Year but overvalued on a 2 Year view.

Tristel (TSTL) – 300p – £134m – PER 25

Trading Update For The 12 Months To End June 2018 – In-line and now owns 80% of Tristel Italia (20% previously), to be earnings enhancing next year.

Still not for me. Based on the latest Broker note this morning, in my opinion, this still looks overvalued on a 1 Year and 2 Year view.

As always, all comment most welcome!

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