Morning Brief – 24-Oct-2017

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Morning Brief Images 24-Oct-2017

Morning All!

Bloomsbury Publishing (BMY) – 161.5p – £121m

Interim Results For The 6 Months To End August 2017 – An in-line update with Revenue up 15% to £72.1m (£62.7m last time). Adjusted PBT up 74% to £2.5m (£1.5m last time). Net cash up 85% to £16.9m (£9.1m last time), Interim dividend up 5%.

Stockopedia likes this, StockRank 96 and on a PER of 12.6 and a reasonably well covered 4%+ yield – I am quite liking it too. Just wondering though, how long term this will be – Especially when the Harry Potter cow has finally been completely milked! Perhaps this will never happen and perhaps I am being a little too cautious.

Carpetright (CPR) – 180p – £122.1m

Trading Update For The 25 Weeks Ending 21 October 2017 – Basically, Flat Revenues and H1 Profit expected to be below that of the prior year. Expecting a significantly stronger H2 within the current range of market expectations. I am reading, H1 lower than the lower end and H2 likely to be at thelower end, of expectations.

Seems like a bit of a Profit Warning to me – It certainly rings “caution”.

International Personal Finance (IPF) – 199.5p – £437.8

Q3 Trading Update – Cannot really find much to say about this update – Seems in-line to me. This sort of update (one I cannot make sense of) just makes me want to leave this alone.

On a PER of 6.5 it’s either wrongly priced or something is not quite right here – There is some kind of outstanding legal dispute on-going in Poland. Anyway, I just can’t get interested here.

Shoe Zone (SHOE) – 155p – £77.5m

Trading Update For The 52 Weeks Ending September 2017 – Revenue will be approximately £158m (£159.8m last time) and “the Board expects to deliver full year PBT broadly in line with expectations”. Not the most positive of updates.

To me, even the PER of 9.30 looks generous.

McBride (MCB) – 230.75p – £414.7m

AGM Trading Update – This statement kind of sums it up “At this early stage of the year the Board is comfortable that the business remains on track to deliver its full year expectations”.

It’s up almost 30% in the past couple of months so obviously some see the attraction here. Sure, it looks OK but there’s enough to put me off – Net Debt (about 20% of Mkt Cap), the low Operating Margin and the recent Broker downgrade. And of course – This lacklustre update.

Share (SHRE) – 26p – £37.3m

Trading Update For The Q3 Ending December 2017 – An in-line update for this Retail Stock Broking related company which just about makes a profit.

Extremely high PER of 68.

The only thing of real interest for me this morning to see how the market reacts to that CPR update.

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