Morning Brief – 28-May-2019

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Morning Brief Images 28-May-2019

UK Stock Market News Today – 28-May-2019

Morning all!

AFH Financial (AFHP) – 311p – £133m – PER 9.3

Results For The 6 Months To End April 2019 – Revenue up 61%, PBT up 80%, EPS up 49%, FUM up 68% – Strong outlook and re-confirms 3-5 year targets, FUM of £10bn, Revenue of £140m and EBITDA margin of 25%.

I remain Long here and have no idea why this is still on a single digit PER, perhaps I have missed something!

Altitude (ALT) – 116p – £80m – PER 15.7

Results For The 12 Months To End December 2018 – Revenue up from £6.1m to £6.6m, LBT of -£2.8m (Profit of £0.1m last time), Net Cash at £3.8m.

Results 5 months after year end is a little strange, loss making, no clear outlook given – I will be staying away here for now.

DX Group (DX.) – 16p – £92m – PER 26.2

Trading Update – Comfortably on track to deliver FY market expectations.

From the forecasts I can see this means a loss so I will wait until I see the actuals here.

Renold (RNO) – 29p – £65m – PER 5.6

Results For The 12 Months To End March 2019 – Revenue up about 5% (£202.4m), Statutory Operating Profit up almost 200%, EPS up about 10% with Net Debt at £30m.

I still see attractions here but that Net Debt (amost 50% of current Market Cap) keeps me away.

As always, all comment most welcome!

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