Morning Brief – 25-Sep-2019

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Morning Brief Images 25-Sep-2019

UK Stock Market News Today – 25-Sep-2019

Morning all!

Adept Telecom (ADT) – 359p – £85m – PER 11

Trading Update For The 6 Months To End September 2019 – Lots to say and generally seems to be in-line.

And ex-holding which I exited as I was a bit uncomfortable with the rate of acquisition and the Debt level – I also consider 300p or so to be fair value (given a 2 year view).

Hornby (HRN) – 27p – £34m – PER n/a

Trading Statement For The 5 Months To End August 2019 – Revenue and margins ahead of last year (in-line with internal budgets) but remains cautious about Brexit and Christmas.

I am no more interested here today than I was yesterday.

Mission Marketing (TMMG) – 84p – £72m – PER 9

Interim Results For The 6 Months To End June 2019 – Revenue up 9%, PBT up 10%, Adjusted EPS up 9%, the Interim Dividend is up 10%. Despite Brexit concerns remain on track to deliver FY expectations. Name is also changed today to The Mission Group.

I hold here but I have to admit I am not a fan of H2 weighting (mentioned again today) but I will continue to hold (and observe) for now.

Scientific Digital Imaging (SDI) – 52p – £50m – PER 15

Trading Update For The 12 Months To End April 2020 – Comfortable with current forecasts.

I am Long here and this seems like another an in-line update. Would still like to see an earning enhancing acquisition(s) or significant improvement in organic growth.

As always, all comment most welcome!

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