Morning Brief – 4-Apr-2019

Morning Brief Images 4-Apr-2019

UK Stock Market News Today – 4-Apr-2019

Morning all!

Concurrent Technologies (CNC) – 73p – £53m – PER 14.3

Results For The 12 Months To End December 2018 – Revenue up slightly to £16.6m (from £16.2m), Margin down slightly, PBT of £3m is the same as last year and the Dividend is up 4.5% (to 2.3p).  Cash at £7.7m (down from £8.4m last time). Started the new year with a strong Order book.

This looks in-line (ish) with the forecasts I can see and I reckon it seems priced about right here.

HSS Hire (HSS) – 35p – £60m – PER 14

Results For The 12 Months To End December 2018 – Revenue up 5%, LBT reduced significantly from -£85.2m to -£4.5m.

Complicated results and HUGE Net Debt keeps me well away for now.

IMImobile (IMO) – 287p – £191.5m – PER 17.8

Trading Update For The 12 Months To End March 2019 – Revenue to be ahead of market expectations, up 28% on last year (18% organic).  Gross Profit to be up 20% on last year and EBITDA 30%. Net Debt at £7.9m (Cash of £4.3m last time (acquired Impact Mobile for £16m).

Looks quite reasonable – I still have no conviction either way here at present but will be keeping an eye out for those FY actuals.

Mothercare (MTC) – 22p – £76m – PER 38

Trading Update For Q4 2019 (12 Weeks To End March 2019)  – FY Profit to be in-line with market expectations, on track to deliver £19m of annual cost savings.

This is a weird as I see them forecast to make a loss – Anyway, it remains on my Avoid list for now.

Ramsdens Holdings (RFX) – 179p – £55m – PER 9.5

Trading Update – Continues to trade in-line, despite Brexit, hot weather and a challenging retail environment.

I still reckon this is about fairly priced around this level – This also does sound like they’re potentially lining up a warning.

As always, all comment most welcome!

PPPR Session Banner