Morning Brief – 23-May-2019

Morning Brief Images 23-May-2019

UK Stock Market News Today – 23-May-2019

Morning all!

Alliance Pharma (APH) – 79p – £405m – PER 15

AGM Statement – FY trading in-line.

I still see no value here at present.

Gateley (GTLY) – 170p – £188m – PER 12.3

Trading Update For The 12 Months To End April 2019 – H2 strong, FY to be in-line.

Some value here perhaps but I consider it a potential for yield rather than growth.

Henry Boot (BOOT) – 254p – £339m – PER 8.8

AGM Statement And Trading Update – FY in-line but cautious sounding.

Looks cheap but I am not tempted as growth looks rather pedestrian.

Hollywood Bowl (BOWL) – 226p – £340m – PER 16.1

Interim Results For The 6 Months To End March 2019 – Revenue up 5.3% (0.4% LFL), PBT up 12.5%, EPS up 13.6%, Interim Dividend up 11.8% and Net Debt is down from £7.2m to £5.3m. FY on track.

This looks quite good but I don’t see much value on a PER of 15+ here.

HSS Hire (HSS) – 36p – £60m – PER 17.1

Q1 Results (To End March 2019)  –  Expects FY EBITDA to be in-line with market expectations.

The Net Debt here just makes this uninvestible for me and why EBITDA here and not real profit?

S & U (SUS) – 2220p – £267m – PER 8.8

Trading Update For The Period From 1st February To 22nd May 2019 – Seems positive enough but no reference to FY expectations.

I still quite like this but the sector and Net Debt keep me away at present.

StatPro (SOG) – 132p – £87m – PER 15

AGM Statement And Trading Update – FY remains in-line with expectations.

I reckon this is fairly valued (on a 2 Year view) around the 125p price level.

Strix (KETL) – 161p – £305m – PER 11

AGM Statement And Trading Update – FY still trading in-line.

Growth wise, I still see this as fairly priced here (at best) – Perhaps more attractive to those seeking income.

Tungsten (TUNG) – 38p – £48m – PER n/a

Trading Update For The 12 Months To End April 2019 – Revenue up 6% and first EBITDA Profit expected.

Will wait to see how the real profits look here.

As always, all comment most welcome!

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