Morning Brief – 29-Jan-2019

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Morning Brief Images 29-Jan-2019

UK Stock Market News Today – 29-Jan-2019

Morning all!

Anpario (ANP) – 345p – £79.9m – PER 17.7

Trading Update For The 12 Months To End December 2018 – Expects to be in-line, Cash at £12.9m, up from £13.6m.

Still looks overvalued to me.

Brady (BRY) – 63.5p – £52.9m – PER 52.9

Trading Update For The 12 Months To End December 2018 – Revenue to be circa £23m and EBITDA £2.6m – Broadly in-line with consensus market expectations.

Going to keep this on my Avoid list for now.

Colefax (CFX) – 520p – £51m – PER 13.4

Results For The 6 Months To End October 2018 – Revenue up 7.8%, PBT up 41%, EPS up 55%, Net Cash up from £9.5m to £11.1m and the Interim Dividend is up 4%. Cautious about H2 as confidence has slowed recently.

I still, perhaps wrongly, cannot bring myself to be more interested here.

Filtronic (FTC) – 6.6p – £13.8m – PER 42.4

Results For The 6 Months To End November 2018 – Revenue down to £10.4m (£12.8m last time), Loss of -£0.9m (£0.9m Profit last time) and Cash is down from £3.8m to £2.2m. Expects H2 to be broadly similar.

I will be not be getting involved here any time soon.

Luceco (LUCE) – 53.2p – £85.5m – PER 10.6

Trading Update For The 12 Months To End December 2018 – In-line with Revenue down -2% to £164m with Net Debt at £32.2m (2x Adjusted EBITDA).

Still not for me and remains on my Avoid list for now.

Netcall (NET) – 31.5p – £45m – PER 22

Trading Update For The 6 Months To End December 2018 – Trading in-line and expects Revenue of £11.4m (£10.7m last time) and Adjusted EBITDA of £2m (no last time figure). Revenues to be H2 weighted.

Again, to me, an unclear update so I just have to wait to see actuals.

Next Fifteen Communications (NFC) – 501p – £418.4m – PER 13.5

Trading Update For The 12 Months To End January 2019 – In-line.

I consider this fairly priced at best around this level.

Sopheon (SPE) – 1300p – £132m – PER 30.2

Trading Update For The 12 Months To End December 2018 – Expecting Revenue of $33m (up from $28.5m last year) and PBT to be significantly ahead of expectations. Net Cash to be up from $9.5m to $16.7m. Revenue visibility of $19.4m ($18m last time).

Kicking myself for not paying up here sub 400p (just a year ago) but reckon it’s overvalued now.

Team17 (TM17) – 222p – £292m – PER 25.9

Trading Update For The 12 Months To End December 2018 – Revenues ahead of expectations with EBITDA at the upper end. A solid portfolio of game launches planned for 2019.

Could be tempted here, will keep an eye out for Broker notes.

Warpaint London (W7L) – 85.4p – £65.5m – PER 7

Trading Update For The 12 Months To End December 2018 – Expects to report Revenue of £48.5m and Adjusted PBT of £8.25m

I took a hit here on the Profit warning last year, I will keep an eye out for Broker notes but am very wary of trusting this company. The last Profit warning (which knocked 50% off the price) came 6 weeks after an in-line update.

As always, all comment most welcome!

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