Morning Brief – 25-Jul-2018

Morning Brief Images 25-Jul-2018

UK Stock Market News Today – 25-Jul-2018

Morning all!

Joules (JOUL) – 346p – £297.5m – PER 24.7

Results For The 12 Months To The 27th May 2018 – Revenue up 18.4% to £185.9m, Underlying PBT up 28.5% to £13.0m and Basic Underlying EPS up 28.5% to 11.8p.

This was on my Watchlist at 280p and I will leave it there for now in order to keep an eye on it. Results like this though, on a PER of 24.7, may even see me paying up here.

Idox (IDOX) – 35.8p – £148.5m – PER 11.0

Results For The 6 Months To End April 2018 – Bad results (consistent with the May 2018 Trading Update).

This is going on my Avoid list for now.

Quartix Holdings (QTX) – 367p – £176.5m – PER 21.5

Interim Results For The 6 Months To End June 2018 – Revenue up 7% and in-line to meet FY expectations.

I remain on the side-lines here, still a little baffled why people are paying up here on a PER of 20 (perhaps I have missed something).

Staffline (STAF) – 1052p – £299.6m – PER 9.09

Interim Results For The 6 Months To End June 2018 – Revenue up 12% with Underlying PBT down 6.8% and Underlying Diluted EPS down 5.8%. Expecting to meet 2018 expectations.

I remain Neutral here.

Empresaria (EMR) – 79p – £36.5m – PER 5.80

Trading Update – In-line to meet FY market expectations.

This doesn’t look too bad on a PER <6 but I still can’t get excited enough – I remain on the side-lines.

Norcros (NXR) – 215p – £171.8m – PER 6.68

AGM Trading Statement – Q1 In-line and FY in-line too.

Still quite like this but I remain Neutral for now.

Vertu Motors (VTU) – 50.7p – £187.4m – PER 8.88

AGM Statement – Four month period to end June 2018 in-line and expects FY to be in-line too.

Not sure we will see anything more than pedestrian growth here in the short to medium term – I remain Neutral for now.

Medica (MGP) – 116p – £128.9m – PER 14.0

Trading Update For The 6 Months To End June 2018 – Recruitment momentum continued during H1 2018, FY to be in-line with market expectations.

I hold here and was getting a little nervous – Will see how the market reacts here, hopefully this will provide some support.

Alliance Pharma (APH) – 94p – £483.4m – PER 19.2

Trading Update For The 6 Months To End June 2018 – FY Revenue and Underlying PBT to be in-line with expectations.

Was on my Watchlist at 60p and missed the boat somewhat – At present on a PER of almost 20 I am not so attracted here, Neutral for now.

STM (STM) – 58.5p – £34.4m – PER 9.18

Trading Update For H1 2018 – In-line.

Seeking a new Group Internal Auditor and a COO to allow the current CEO (who I believe is Mr. Kentish and is being investigated for money laundering), also in the final stages of adding a new Chairman and Non-Exec Director – This remains on my Avoid list whilst the musical chairs continues.

Van Elle Holdings (VANL) – 82p – £65.6m – PER 6.92

Preliminary Results For The 12 Months To End April 2018 – Looks about in-line (not so great) and H1 this year has been challenging.

I remain Neutral.

As always, all comment most welcome!

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