Morning Brief – 4-Jul-2018

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Morning Brief Images 4-Jul-2018

UK Stock Market News Today – 4-Jul-2018

Morning all!

Staffline (STAF) – 933p – £260.7m – PER 7.92

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

I remain Neutral.

Mattioli Woods (MTW) – 795p – £208.0m – PER 19.4

Trading Update For The 12 Months To End May 2018 –  Strong organic revenue growth 15%+, EBITDA margin ahead of 20% target, recent acquisitions performing well with Net Cash of £20m+.

Still quite like this but not enough for a conviction to buy – I remain Neutral.

Topps Tiles (TPT) – 63p – £121.9m – PER 9.25

Trading Update For The 13 Week Period To 1 July 2018 – LFL Revenue down 2.3% – This seems not to be below forecasts (which seems to be a slight FY increase).

I will remain on the side-lines (Neutral) here.

Churchill China (CHH) – 980p – £107.5m – PER 15.8

Trading Update For The 6 Months To End June 2018 – Expects trading to be ahead of earlier expectations.

I remain Neutral as I see this fairly priced, perhaps even over priced on anticipation of a bid (for the brand name)?

Gresham Technologies (GHT) – 197p – £133.2m – PER 28.7

Trading Update For The 6 Months To End June 2018 – LFL Revenue down 5%, expecting a strong H2.

This is coming off my Watchlist – Neutral now.

As always, all comment most welcome!

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