Morning Brief – 24-Sep-2018

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Morning Brief Images 24-Sep-2018

UK Stock Market News Today – 24-Sep-2018

Morning all!

Gama Aviation (GMAA) – 194p – £123.4m – PER 8.39

Interim Results For The 6 Months To End June 2018 – Revenue and Gross Profit both down slightly but there’s now Net Cash of $21.1m versus a Net Debt of $14.3m last time.  FY expectations unchanged.

I remain Neutral.

Instem (INS) – 300p – £47.7m – PER 19.5

Interim Results For The 6 Months To End June 2018 – Revenue up slightly, Adjusted PBT up from £0.1m to £0.8m and EPS or 4.7p (0.2p last time).

Still quite like this and taking part in a break-out above 325p could prove sensible. Going on the Watchlist.

Kape Technologies (KAPE) – 131p – £185.9m – PER 27.3

Interim Results For The 6 Months To End June 2018 – Revenue down 10% or so with Adjusted EBITDA up 45% or so, over $60m in Cash – FY to be in-line with expectations.

I am currently long here and will monitor the market reaction to this update.

Nasstar (NASA) – 11.8p – £67.8m – PER 19.5

Interim Results For The 6 Months To End June 2018 – Revenue up 6% with Operating Loss reduced by 65%.

I remain Neutral here.

Pennant International (PEN) – 123p – £40.5m – PER 12.4

Interim Results For The 6 Months To End June 2018 – Revenues of £13.2m (H1 2017: £9.6m), PBT of £2.03m (H1 2017: £0.94m), Basic EPS of 6.17p (H1 2017: 2.84p) – FY to be in-line.

First time coverage here but I will look into this a little more as forecasts (on Stockopedia) look OK, for a PER of 12 or so.

Spectra Systems (SPSY) – 98p – £44.7m – PER 17.5

Interim Results For The 6 Months To End June 2018 – Revenue up 11% with Adjusted EPS up 30% – Expects to perform well for the remainder of the year.

I remain Neutral here, need to research more into what they actually do.

XLMedia (XLM) – 106p – £233.6m – PER 9.69

Interim Results For The 6 Months To End June 2018 – Everything down but on track to meet FY expectations.

Still not enough here to make me a buyer again, I remain Neutral – Although there is a probable re-rating due if (more like when, as they have a load of Cash) acquisitions are made.

Miton (MGR) – 66.5p – £114.8m – PER 13.9

Interim Results For The 6 Months To End June 2018 – Revenue up 24.3%, Adjusted PBT up 51.7%, Adjusted Diluted EPS up about 50%.

I have been considering an investment here for a while and no idea why I am not yet involved – If I don’t buy in this week it will go on my Watchlist.

Xpediator (XPD) – 71p – £94.9m – PER 14.2

Interim Results For The 6 Months To End June 2018 – Revenue up by £29.8m of which £14.6m/49.0% was organic growth and £15.2m/51.0% came from acquisitions, Interim up 21% – Expects to deliver FY in-line.

I hold here and this update seems to give me no reason to change that stance at present.

As always, all comment most welcome!

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