Morning Brief – 26-Mar-2019

0
8384
Morning Brief Images 26-Mar-2019

UK Stock Market News Today – 26-Mar-2019

Morning all!

Alliance Pharma (APH) – 65p – £335m – PER 12.8

Results For The 12 Months To End December 2018 – Revenue up 23% (CC), with reported PBT down -19% and reported EPS down -39%, Net Debt at £85.8m (£72.3m last time). The Final Dividend is up 10%, 2019 has started well and is in-line.

Not enough to get me any more interested here yet.

Michelmersh Brick Holdings (MBH) – 88p – £81m – PER 12

Results For The 12 Months To End December 2018 – Revenue up 22% (to £46.3m), Gross Margin up from 35.4% to 38.9%, Basic EPS up 118% (5.8p), Dividend up 49% (3.2p for the year) and Net Debt is down from £17.5m to £12m. The current Order Book is 10.5% ahead of last time with new high value products introduced and recent acquisition now gives access to Europe.

I remain on the side-lines as the last forecasts I checked were for negative EPS growth in 2020E. Could be tempted here if those forecasts are revised.

Pelatro (PTRO) – 90p – £29.3m – PER 7.9

Results For The 12 Months To End December 2018 – Revenue up 95% ($6.12m), half of it is recurring. Adjusted PBT is up 73% with EPS up 13%, Net Cash down from $3.1m to $1.8m.

Something is tingling the spidey senses here – It looks attractive, I like what it does but something just doesn’t quite feel right. For that reason I am going to observe from the sidelines for now.

Note: Doesn’t help they recently spent $270,000 on a couple of cars for 2 of the directors! A great spot by @Rhomboid1 on Twitter.

Quartix Holdings (QTX) – 245p – £117m – PER 21

AGM Trading Statement – First 2 months, confident for FY.

I still don’t see value here, I just don’t like to see a forecast fall in EPS followed by a rise, especially if that rise means EPS is not hitting a new high.

S & U (SUS) – 1767p – £212m – PER 7.1

Results For The 12 Months To End January 2019 – Revenue and PBT up 15%, EPS 14%, FY Dividend 12%, the “prognosis for the next twelve months is realistic, but optimistic”.

Still a lot to like here but the Net Debt and the sector just put me off enough to keep me on the sidelines for now.

T Clarke (CTO) – 108p – £46m – PER 6.6

Results For The 12 Months To End December 2018 – Revenue up 5%, Underlying PBT and Diluted EPS up 23%, Total Dividend up 14% and the forward Order Book is up 22%.

I did this update 2 days late, due to other commitments and actually bought in after seeing an updated and favourable Broker note.

Wynnstay (WYN) – 335p – £66m – PER 9.1

Trading Update – Expects H1 to be substantially behind last year and FY is expected to be substantially below market expectations – Brexit, weather, margin pressures, etc.

I will be remaining on the sidelines here for now.

XLMedia (XLM) – 56p – £119m – PER 6

Results For The 12 Months To End December 2018 – Revenue down -14.4%, Loss of -$9.9m, Dividend is down about 10%, Adjusted EPS down -9%, Cash up from $43.3m to $47.6m. Concentrating on higher margin business, to return to growth.

Still happy to stay away from this for now, see how that return to growth goes!

As always, all comment most welcome!

Advertisement
Research Tree Banner