Morning Brief – 26-Jul-2018

Morning Brief Images 26-Jul-2018

UK Stock Market News Today – 26-Jul-2018

Morning all!

Franchise Brands (FRAN) – 82p – £63.7m – PER 51.4

Half Year Results For The 6 Months To End June 2018 –  Revenue up 88% to £16.8m (H1 2017: £8.9m). Adjusted PBT up 41% to £1.4m (H1 2017: £1.0m).  EPS ahead by 15%, Interim Dividend will be increased by 24%. ChipsAway, Ovenclean and Barking Mad have performed solidly and Metro Rod strategy delivers, capable of significant growth.

Still quite like this, going to keep it on my Watchlist at 54p just to make sure I monitor for a potential entry.

Discoverie (DSCV) – 424p – £310.9m – PER 16.1

Trading Update For Q1 2019 (To End June 2018) – In-line.

Can’t quite get Bullish enough about this to consider investing at present, I will remain Neutral for now.

Bonmarche Holdings (BON) – 110p – £55.0m – PER 7.21

Trading Update For The 13 Weeks To End June 2018 – LFL Sales up 2.7% (on-line is up 27.3%), FY remains unchanged. Note, the Dividend policy is changed from cover between 2.5x to 3.0x earnings to between 2.0x to 2.5x earnings.

Not sure how this Dividend policy change will go down, I am guessing it will be considered as confirmation that a decent 5% or so yield will still be on offer here and the board is taking a sensible step – For now I remain Neutral.

Findel (FDL) – 292p – £252.4m – PER 10.4

AGM Trading Statement – In-line.

Some nice fundamentals here and growth looks reasonable, considering the PER – However, the Net Debt just puts me off too much so I remain Neutral for now.

YouGov (YOU) – 481.5p – £507.9m – PER 31.6

Trading Update For The 12 Months To End July 2018 – In-line.

Looks good (great even) – My bias to invest here was swayed by the accounting warnings by many respected contributors on Stockopedia, it looks like it’s now too late to overlook that, or is there more to come here. I remain Neutral and but will keep a keen eye on updates.

Flybe (FLYB) – 41.65p – £90.2m – PER 21.6

Q1 2018/2019 Trading Statement – Record load factors on reduced capacity and “looking forward to further progress towards sustainable profitability”.

I wish them well as I remain Neutral for now.

Kape Technologies (KAPE) – 126p – £178.8m – PER 31.9

Trading Update For The 6 Months To End June 2018 – A solid start with EBITDA up 48%.

Looks impressive but will wait to see the actual results (profits) in September (will be interesting to see if those who made 9% yesterday will be selling out today!!!!).

Veltyco (VLTY) – 64.5p – £48.3m – PER 7.68

Trading Update For The 6 Months To End June 2018 – In-line.

I remain Neutral, not really wanting to get involved in this section of the market at present.

As always, all comment most welcome!

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