Morning Brief – 28-Mar-2018

0
871
Morning Brief Images 28-Mar-2018

UK Stock Market News Today – 28-Mar-2018

Morning all!

Inland Homes (INL) – 62.5p – £125.8m – PER 7.86

Interim Results For The 6 Months To End December 2017 – NAV up 13.6% and PBT up about 10% to £5.37m, the Final Dividend is up 30% (0.65p). The current order book is £38.9m (£31.8m last time). Outlook “in a strong position”.

Still like this and it probably represents decent value here. Just can’t persuade myself to ignore the huge Debt here (well over 50% of the current Market Cap).

North Midland Construction (NMD) – 290p – £29.4m – PER 9.37

Final Results For The 12 Months To End December 2017 – Revenue £291.77m (up 16.5%), Underlying PBT £8.30m (up 40.4%), Secured workload circa £299m (£225m last time), about 90% of 2018 budgeted revenue, Total Dividend 6.0p (4.5p last time). Cash £17.01m (£11.41m last time). Outlook is positive.

Still like this company but there is still some legal dispute outstanding and I have no idea what the impact will be (could take 12 months to resolve). With that unknown I have to remain on the side-lines for now.

DFS Furniture (DFS) – 170p – £359.8m – PER 8.75

Results For The 26 Weeks To 27 January 2018 – In-line, Interim Dividend maintained – Market continues to be challenging.

That Dividend (surprised it’s been maintained to be honest) at 6%+ is attractive but I still can’t get myself interested here.

AD Dynamics (ABDP) – 878p – £170.2m – PER 22.6

Trading Update For The 6 Months To End February 2018 – Expected to be significantly ahead and in-line with management expectations.

Encouraging update and it’s already on my Watchlist- If I don’t open a position here this morning I will leave it on my Watchlist at 850p.

Tracsis (TRCS) – 510p – £144.0m – PER 20.8

Interim Results For The 6 Months To End January 2018 – Revenue up 16% to £18.1m (2017: £15.6m), Statutory PBT up 33% to £2.4m (2017: £1.8m), Cash of £18.5m (31 July 2017: £15.4m, 31 January 2017: £12.7m), Interim Dividend up 17% to 0.7p (2017: 0.6p). Confident of an in-line FY.

Nice update and I still like this company, remaining Neutral for now though – Although quite tempted!

Fulcrum Utility Services (FCRM) – 60.42p – £127.3m – PER 14.5

Trading Update For The 12 Months To End March 2018 – In-line, recent acquisitions will enhance service offerings and in-house capabilities. Confident outlook.

Not sure about the acquisitions but I will continue to hold for now and observe.

Gfinity (GFIN) – 12.15p – £28.0m – PER 43.1

Results For The 6 Months To End December 2017 – Revenue increased 103% on the same period in the prior year to £1.8m (H1 2017: £0.9m), Loss Before Tax £7.7m (H1 2017: loss of £1.7m) £7m raised in October 2017, Cash and cash equivalents of £3.9m.

There’s another placement underway (announced yesterday). I have already had a few words with myself regarding my decision to buy this. It’s on my Avoid list until there’s a profit, as it should have been in the first place.

As always, all comment most welcome – Have a great day!

Advertisement
Stockopedia Banner