Morning Brief – 3-Oct-2018

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Morning Brief Images 3-Oct-2018

UK Stock Market News Today – 3-Oct-2018

Morning all!

Avingtrans (AVG) – 217p – £67.4m – PER 21.7

Preliminary Results For The 12 Months To End May 2018 – Driven by acquisition – Revenue is up 247% with PBT up 820% and Adjusted Diluted EPS up from 1.1p to 8.4p. Gone from having Cash (£26.4m) to Net Debt (£7.1m), which is fair enough. Dividend is increased slightly.

No conviction here either way as to how this is going to play out long term although this doesn’t look too bad – I remain Neutral for now.

Topps Tiles (TPT) – 62.7p – £123.2m – PER 9.93

Trading Update For The 52 Weeks To 29th September 2018 – Flat Revenue with FY Adjusted PBT to be slightly ahead of top end current expectations (£14.6m – £15.2m).

The yield could be tempting to some but I will remain Neutral as I don’t see much more than a pedestrian growth opportunity here at present.

Ramsdens Holdings (RFX) – 163.5p – £50.4m – PER 9.22

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

Sold out here in July 2018. I still believe there is some value here on a PER of 9 or so with a yield of 4.5% and EPS set to grow about 4% and 9% in the next couple of years. On my Watchlist as interesting at a potential bargain at a lower price than this.

SRT Marine Systems (SRT) – 25.5p – £35.3m – PER 10.3

Trading Update For The 6 Months To End September 2018 – Revenue up, Loss reduced. No mention of in-line, etc. (nada!).

There’s still nothing here to change my view from Neutral.

Wincanton (WIN) – 222.5p – £277.1m – PER 6.94

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

On a PER of 7 or so with annual EPS growth forecast at 3% or so, there’s an almost 5% yield for those looking for income. It’s attractive enough for the yield but I remain on the side-lines.

Thruvision (THRU) – 29.25p – £42.5m – PER n/a

Trading Update For The 6 Months To End September 2018 – 60 units sold compared to 57 all of last year. Cash at £12.6m. No mention of Revenue, PBT, EPS, etc.

Don’t usually cover loss makers but this popped up on my Tech Screen recently. I will look to do a little more research here whilst remaining Neutral for now.

As always, all comment most welcome!

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