Morning Brief – 23-Apr-2018

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Morning Brief Images 23-Apr-2018

UK Stock Market News Today – 23-Apr-2018

Morning all!

D4t4 Solutions (£D4T4) – 155p – £58.9m – PER 13.5

Trading Update For The 12 Months To End March 2018 – Revenue to be circa £20, Adjusted Profit expected to be slightly ahead of management expectations, Net cash £3.9m – Enters the new financial year in robust shape with an encouraging pipeline & opportunities ahead. Confident of meeting 2019 expectations.

Looks OK but around this level, seems reasonably priced to me.

Lok’n Store (LOK) – 412p – £121.3m – PER 30.8

Interim Results For The 6 Months To End January 2018 – Revenue up 5.7% to £8.82m, Adjusted PBT £2.55m up 21.3%. NAV is £4.18, up from £3.87. “Positive momentum carried into second half, continues to grow strongly”.

I see decent downside protection here, there’s a decent 2.5% or so Dividend and potential for growth. Not enough though to tempt me away from my Neutral stance at present.

Tax Systems (TAX) – 81p – £65.4m – PER 16.8

Audited Results For The 12 Months To End December 2017 – LFLRevenue up 17% (2017: £15.1m, 20161: £12.9m), but still making a loss. Stockopedia has it forecast at £4.0m profit and EPS of 4.24.

I just don’t like this – And, the Net Debt, although reduced 16%, is still quite large (£20.5m). Probably because I don’t properly understand the accounting here (there’s much easier numbers to analyse out there) this is going on my Avoid list for now.

Safestyle UK (SFE) – 80p – £66.2m – PER 7.16

Trading Update And Directorate Change – Competitor means market share has been weak – Expects Revenue and Underlying Profit to be significantly below market expectations. Recommending proposed 7.5p Dividend is cancelled. Board change – Whatever.

Suffice to say this is remaining on my Avoid list – Like, forever.

Equals (EQLS)100.04p – £155.4m – PER 20.4

Audited Results For The 12 Months To End December 2017 – Revenue £15.5m (2016: £10.2m), anincrease of 52% (33% LFL), Adjusted PBT of £0.9m (2016: loss £1.6m) – First full year of profitability. Outlook in-line.

This looks interesting and for the sake of keeping an eye on it – I will put it on my Watchlist, 95p. I may even pay up this morning!

Subsequent note: I bought in here today.

Zoo Digital (ZOO) – 102.73p – £75.8m – PER 68.0

Trading Update For The 12 Months To End March 2018 – Expects FY Revenue of at least $28.0m ($16.5m last time), Adjusted EBITDA of at least $2.3m ($1.8m last time) with Cash of $2.4m ($0.7m last time). “Pleased to confirm guidance for the full year results. We continue to see momentum in the business, driven by our localisation services, and remain optimistic for the future”.

This is little change to the previous guidance, it remains on my Watchlist at 65p.

As always, all comment most welcome!

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