Morning Brief – 28-Sep-2018

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Morning Brief Images 28-Sep-2018

UK Stock Market News Today – 28-Sep-2018

Morning all!

Numis (NUM) – 374p – £396.6m – PER 13.7

Trading Update For The 12 Months To End September 2018 – FY Revenue up 3% – Many things blamed but basically Profits will be lower this year (than last year).

I bought into this after a great set of interims at the beginning of May but sold out within the same month. The reasons, 2 fold I suppose – The results had little impact on the subsequent price action and also, I decided that the Revenue was too “lumpy” (reliant on big contract wins). Today I also note that forecast Revenue growth for the next 2 years is <10% per annum and EPS growth <5% per annum – On a PER of 15 or so I would expect more (unless there’s more hope for “lumpy” wins than I have). I remain Neutral.

Live (LVCG) – 76p – £40.9m – PER n/a

Interim Results For The 6 Months To End June 2018 – Revenue up almost 50% (to £2.84m) and an Operating Profit of £503k (Operating Loss of -£391k last time).Progressing in China, North America and looking at a potential acquisition (to accelerate organic growth).

First coverage and it only caught my eye due to the impressive chart (it turned up on my Tech screen a while ago) and the move into Profit. It’s tempting but I remain Neutral for now, needs research.

As always, all comment most welcome!

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