Morning Brief – 3-Jul-2018

Morning Brief Images 3-Jul-2018

UK Stock Market News Today – 3-Jul-2018

Morning all!

Cohort (CHRT) – 365p – £149.5m – PER 11.9

Final Results For The 12 Months To End April 2018 – Revenue flat (£111.8m), Profits and EPS up about 7% with the Dividend up 15%. States in-line but looks like a slight miss here with the forward Order book confirmed at -25% on last year.

I’m no more interested here today than I was yesterday.

Solid State (SOLI) – 315p – £26.8m – PER 12.5

Final Results For The 12 Months To End March 2018 – Revenue is up 16% to £46.3m with Adjusted PBT down -4% to £3.0m (margins are down slightly), Adjusted Diluted EPS down -2% to 30.9p with the Dividend flat at 12.0p. The order book is about 10% up on last year and on track to deliver in-line with expectations.

Can’t see this being any more than fairly priced here.

RM (RM.) – 225p – £186.0m – PER 9.44

Interim Results For The 6 Months To End May 2018 – Revenue +33.1%, Adjusted PBT +25.9% and Adjusted EPS +7.4%. The Interim Dividend is up 15% and the board is confident of at least meeting FY expectations.

I still like this and am going to revise my Watchlist price to 200p, may even consider paying up some time this month – On a PER of 9.44 it seems decent value.

Costain (COST) – 431.5p – £459.1m – PER 11.4

Trading Update For The 6 Months To End June 2018 – In-line.

A I mentioned previously, I quite like this but find it difficult to see where any real growth can come from at present – Seems trapped (perhaps rightly) below that 500p level.

McBride (MCB) – 132p – £241.0m – PER 8.84

Trading Update For The 12 Months To End June 2018 – FY PBT to be marginally below the lower end of analyst expectations.

Remains on my Avoid list.

As always, all comment most welcome!

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