Morning Brief – 26-Sep-2018

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Morning Brief Images 26-Sep-2018

UK Stock Market News Today – 26-Sep-2018

Morning all!

Accrol Group (ACRL) – 19.5p – £38.1m – PER 27.9

Final Results For The 12 Months To End April 2018 – “A difficult year” with lots to blame.

These results look shocking, not even sure Rocky could make a comeback here. Stockopedia still classes this as a Highly Speculative Value Trap and I am (still) not really into investing in those. This is going on my Avoid list for now.

CentralNic (CNIC) – 52p – £88.7m – PER 14.0

Interim Results For The 6 Months To End June 2018 – Revenue up 5.5%, Gross Profit up 30.7% with Net Debt at £8.6m (H1 2017: Net Cash £7.7m). H2 weighting should see FY in-line.

First time I have looked at this and will remain Neutral for now whilst I do some more research.

Minds Machines (MMX) – 7.35p – £58.5m – PER 21.0

Interim Results For The 6 Months To End June 2018 – Revenue up 22% with Gross Profit up 14%. Bit of a profit warning about FY expectations.

I will remain Neutral thank you very much!

Pelatro (PTRO) – 83.5p – £27.2m – PER 8.17

Interim Results For The 6 Months To End June 2018 – Revenue up 53% to $2.38m (H1 2017: $1.55m), PBT up 24% to $1.2m (H1 2017: $972,000), EPS at 4.4¢ (H1 2017: 5.1¢) – Due to IPO. Cash of $1.6m. Not sure what this is “Adjustment (credit) to reported profits in first half of approximately $517,000 due to change to IFRS 15 revenue recognition (expected largely to reverse in second half)”.

First coverage for me and looks great except for that last sentence above – Although trading is in-line with expectations. Neutral whilst I do some research here.

Trifast (TRI) – 226.5p – £269.5m – PER 15.3

Trading Update – In-line.

Looks like there may be some value here at these levels but for now I will remain Neutral.

Fulcrum Utility Services (FCRM) – 61.5p – £132.7m – PER 13.6

AGM Statement – In-line.

I remain Neutral considering this perhaps fairly priced at these levels.

Hornby (HRN) – 35.9p – £45.1m – PER n/a

AGM Statement – In-line for FY but with plenty of things to worry about.

I still feel more risk to the downside here so I remain Neutral for now.

Equals (EQLS) – 138p – £214.4m – PER 17.3

Interim Results For The 6 Months To End June 2018 –  Revenue up 97% (15% LFL) to £12.0m (H1 2017: £6.1m) with Gross profit of £9.7m, up 100%. FY to be in-line.

I am still long here and if “in-line” can be achieved I see no reason why this will not trade higher sooner rather than later.

LoopUp (LOOP) – 425p – £233.5m – PER 35.8

Interim Results For The 6 Months To End June 2018 – FY to be in-line.

I am always thinking this is fairly priced and sometimes I am right and sometimes I am wrong. For now I will remain Neutral but will look for Broker notes today and do some more research.

As always, all comment most welcome!

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