Morning Brief – 31-Jan-2019

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Morning Brief Images 31-Jan-2019

UK Stock Market News Today – 31-Jan-2019

Morning all!

Alumasc (ALU) – 109p – £39m – PER 6

Interim Results For The 6 Months To End December 2018 – Revenue up 4%, Underlying PBT down from £3.5m to £2.5m, Order Book up 17% YoY, Basic EPS up from 6.9p to 8.4p, Interim Dividend unchanged. Net Debt is down from £4.8m to £0.3m. Expects a better H2.

Looks like value to be had here if forecasts are met, I am just not convinced they will be.

Angle (AGL) – 3.5p – £90.4m – PER n/a

Interim Results For The 6 Months To End October 2018 – Still not making a Profit.

I will cease coverage here until I see signs of a Profit, at least a forecast one.

Avon Rubber (AVON) – 1265p – £392m – PER 16.4

Trading Update – Despite a few problems still expecting to meet FY expectations.

I see no attraction here at a price above 1000p.

Discoverie Group (DSCV) – 400p – £293m – PER 14.2

Q3 Trading Update – Continued strongly and expects FT to be in-line with their expectations.

There’s just not enough here to get me interested in being a Buyer at present.

Epwin (EPWN) – 76p – £109m – PER 7.1

Trading Update For The 12 Months To End December 2018 – “Revenue and underlying operating profit, before non-underlying items, exceptional items and discontinued operations, is anticipated to be within the range of market expectations, with leverage at less than 1x underlying EBITDA”. Not a particularly optimisitic outlook either.

Still has a high StockRank of 98 but I remain unconvinced here.

Flowtech Fluidpower (FLO) – 121p – £74m – PER 7.4

Trading Update For The 12 Months To End December 2018 – Revenue up 42% (organic 6%), Net Debt £19.9m (up from £14.9m). Expecting Underlying PBT of £10.6m – £10.8m. Dividend to be up 5% and expects a solid start to 2019.

An ex-holding of mine and not yet tempted to get back in.

Scs (SCS) – 234p – £93m – PER 9.1

Trading Update For The 12 Months To End December 2018 – Seems about in-line.

Still not enough here for me, last time I checked forecasts are for lower EPS this year than last – That’s not tempting to me.

T Clarke (CTO) – 97p – £41.6m – PER 6

Trading Update For The 12 Months To End December 2018 – In-line, on track to hit 3% Operating Profit Margin with Net Cash up from £11.7m to £12.4m. The forward Order Book is up 22%.

This remains tempting although there is I believe a £20m Pension Deficit. Not a Buyer right now but will keep an eye out for any Broker updates here.

YouGov (YOU) – 437p – £461m – PER 25.2

Trading Update For The 6 Months To End January 2019 – Half year ahead and expects FY to be slightly ahead of market expectations.

I have always remained Neutral here due to accounting warnings by many respected contributors on Stockopedia. I remain so.

As always, all comment most welcome!

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